Loading...
|
Please use this identifier to cite or link to this item:
https://nccur.lib.nccu.edu.tw/handle/140.119/131763
|
Title: | 臺北市社子島解除禁建之宣告效果 Announcement Effect of Lifting Ban on Land Development – A Case Study of Shezidao in Taipei City |
Authors: | 李一勤 Lee, I-Chin |
Contributors: | 林子欽 丁秀吟 Lin, Tzu-Chin Ding, Hsiu-Yin 李一勤 Lee, I-Chin |
Keywords: | 升級管制 解除禁建 宣告效果 社子島 自我迴歸落遲分配模型 特徵價格 Upzone Shezidao Announcement Effect ARDL Hedonic Price Model |
Date: | 2020 |
Issue Date: | 2020-09-02 12:41:14 (UTC+8) |
Abstract: | 禁建乃極為嚴格的管制手段,目的在維持農業生產環境或對高受災風險地區予以保護,然而為因應經濟發展與都市型態的改變,對於土地的使用管制策略必須適時做出調整。過往文獻中於制度變更(rezone)與降級管制(downzone)對土地市場的影響有諸多討論,然升級管制(upzone)常為都市發展飽和地區所應用之策略,以填補可開發土地之不足,研究對象則以住宅市場居多,較少對土地市場投以關注。另一方面,土地市場參與者可能會依據政策改變所傳達之資訊形成投資決策,任何與土地使用相關的政策或計畫宣告可能造成供需價量的變動,從而引起地價之漲跌,故分析政策或計畫方案改變對土地市場的影響時應將宣告時點納入考量,以獲取完整的市場資訊。而本研究即利用社子島土地市場的特殊性,分析解禁(升級管制手段之一)計畫方案宣告的價格效果。 於研究設計上,首先建立時間序列自我迴歸落遲分配模型,判斷解禁計畫方案中各階段之宣告對社子島地價趨勢的影響效果,再利用特徵價格模型分析社子島地價之影響因素,並評估其於宣告前後對地價貢獻程度的變化。實證結果顯示,當解禁方案宣告終止時,將對社子島地價產生負向影響。申言之,若已發佈的升級管制政策因故未通過相關審查或不執行,則可以判斷地價將面臨下行風險。此外,當地價因解禁方案的不繼續執行而下跌時,區位可及性因素對於地價的貢獻程度隨之下降,惟大面積土地仍較小面積者受到青睞,以避免未來可能面臨的土地整合成本。 The prohibition on land development is an extremely strict method that aimed at maintaining the agricultural environment or protecting areas from high risk of disasters. However, in response to the change of economic and urban development, the land-use policies should be adjusted in a timely manner. According to the past literature, there have been many discussions on the impact of rezoning or downzoning on land market. Nevertheless, as a strategy that being implemented to fill the deficiencies of developable land for developed areas, most of the articles about upzoning focus mainly on the residential market. Therefore, the lack of papers about the response of land market to upzoning policies is worthy of more attention. On the other hand, any announcement related to land-use policies will immediately cause supply and demand to change, which could result in the volatility on land value. Thus, the timing of announcement should be taken into consideration to obtain complete market information when analyzing the impact of changes in land-use policies on land market. Consequently, this study tried to analyze the announcement effect of the projects, name in Manhattan Program and Eco-Shezidao, of lifting ban on land development (one of the means of upzoning) with the particularity of the land market in Shezidao in Taipei City. Autoregressive Distributed Lag (ARDL) model and Hedonic Price Model were used in this study for capturing the announcement effect of the projects on land value and land market. Empirical results showed that once the project is declared to be terminated or suspended, it would have a negative impact on land value in Shezidao, which is the key to change the trend of land value from rising to falling. In other words, if an upzoning policy fails to pass the relevant reviews, it could be predicted that land value is going to have a downside risk. In addition, the contribution of location accessibility factors to land value would also decrease, while developers still prefer large plots, which can avoid the cost of land assembly that may be faced in the future. |
Reference: | 一、中文部分 呂哲源、江穎慧與張金鶚(2019)。土壤液化潛勢區公布對房價之影響。都市與計劃,46(1),33-59。 沈中華與李建然(2000)。事件研究法:財務與會計實證研究必備。臺北市:華泰。 林元興、黃淑惠與蔡吉源(2006)。台灣地區九二一地震對地價影響之研究。農業經濟半年刊,80,1-22。 花敬群與張金鶚(1999)。住宅空間次市場價格比例與市場規模之關係。都市與計劃,26(1),79-94。 彭建文與張金鶚(2000)。預期景氣與宣告效果對房地產景氣影響之研究。管理學報,17(2),343-368。 黃佳鈴與張金鶚(2005)。從房地價格分離探討地價指數之建立。台灣土地研究,8(2), 73-106。 楊重信(1986)。臺北市關渡平原開發可行性之研究(臺北市政府研究發展考核委員會委託研究報告)。臺北市:國立中興大學法商學院都市計畫研究所。 楊奕農(2017)。時間序列分析:經濟與財務上之應用 = Time Series Analysis in Economics and Finance (三版)。臺北市:雙葉書廊。 楊麗玲(2016)。社子島:囚禁半世紀,被遺忘的孤島。新北市:遠足文化。 翟珮慈(2017)。公布住宅竊盜地圖會影響房價嗎?國立政治大學地政學系碩士論文,臺北市。 鄭美幸與康信鴻(2002)。台商赴大陸投資與重大非經濟事件對我國房地產景氣的影響。住宅學報,11(2),101-120。 二、英文部分 Anderson, G. D., & Edwards, S. F. (1986). Protecting Rhode Island`s coastal salt ponds: an economic assessment of downzoning. Coastal Management, 14(1-2), 67-91. Box, G. E., & Jenkins, G. M. (1976). Time Series Analysis: Forecasting and Control. San Francisco, CA: Holden Day. Court, A. T. (1939) Hedonic Price Indexes with Automotive Examples. In The Dynamics of Automotive Demand (ed. Charles F. R., 99-117). New York, NY: General Motors. Deaton, B. J., & Vyn, R. J. (2010). The Effect of Strict Agricultural Zoning on Agricultural Land Values: The Case of Ontario’s Greenbelt. American Journal of Agricultural Economics, 92(4), 941-955. Dehring, C. A. (2006). Building Codes and Land Values in High Hazard Areas. Land Economics, 82(4), 513-528. Dehring, C. A., Depken, C. A., & Ward, M. R. (2007). The Impact of Stadium Announcements on Residential Properity Values: Evidence From a Natural Experiment in Dallas-Fort Worth. Contemporary Economic Policy, 25(4), 627. Dolley, J. C. (1933). Characteristics and Procedure of Common Stock Split-ups. Harvard Business Review, 11(3), 316-326. Etgen, R., Bernstein, J., Taylor-Rogers, S., Gray, R., Caldwell, P., Perry, E., Chapman, J.& Dehart, H. G. (2003). Downzoning: Does It Protect Working Landscapes and Maintain Equity for the Landowner? Queenstown, MD: Maryland Center for Agro-Ecology. Fama, E. F. (1969). The Adjustment of Stock Prices to New Information. International Economic Review, 10(1), 1-21. Follain, J. R., & Malpezzi, S. (1980). Dissecting Housing Value and Rent: Estimates of Hedonic Indexes for Thirty-nine Large SMSAs (Vol. 249, No. 17). Washington, D.C.: Urban Institute Press. Freemark, Y. (2019). Upzoning Chicago: Impacts of a zoning reform on property values and housing construction. Urban Affairs Review, 00(0), 1-32. Gottlieb, P. D., & Adelaja, A. (2009). The Impact of Down-zoning on Land Values: A Theoretical Approach. Agricultural Finance Review, 69(2), 206-227. Granger, C. W. J., & Newbold, P. (1974). Spurious Regressions in Econometrics. Journal of Econometrics, 2(2), 111-120. Grieson, R. E., & White, J. R. (1981). The Effects of Zoning on Structure and Land Markets. Journal of Urban Economics, 10(3), 271-285. Gujurati, D. N. (2003). Basic Econometrics(4/e). New York, NY: McGraw-Hill Higher Ed.. Henneberry, D. M., & Barrows, R. L. (1990). Capitalization of Exclusive Agricultural Zoning into Farmland Prices. Land Economics, 66(3), 249-258. Hickey, R. (2014). Inclusionary Upzoning: Tying Growth to Affordability. Inclusionary Housing: A Series of Research and Policy Briefs. Washington, D. C.: Center for Housing Policy. Holway, J. M., & Burby, R. J. (1990). The Effects of Floodplain Development Controls on Residential Land Values. Land Economics, 66(3), 259-271. Immergluck, D. (2009). Large Redevelopment Initiatives, Housing Values and Gentrification: The Case of the Atlanta Beltline. Urban Studies, 46(8), 1723-1745. Jud, G., & Winkler, D. (2006). The Announcement Effect of an Airport Expansion on Housing Prices. The Journal of Real Estate Finance and Economics, 33(2), 91-103. Kavetsos, G. (2012). The Impact of the London Olympics Announcement on Property Prices. Urban Studies, 49(7), 1453-1470. Kmenta, J. (1986). Elements Of Econometrics.2^nd ed., New York, NY: Macmillan Co. Knaap, G. J., Ding, C., & Hopkins, L. D. (2001). Do Plans Matter? The Effects of Light Rail Plans on Land Values in Station Areas. Journal of Planning Education and Research, 21(1), 32-39. Lancaster, K. J. (1966). A New Approach to Consumer Theory. Journal of Political Economy, 74(2), 132-157. Levy, D., Dong, Z., & Young, J. (2016). Unintended consequences: the use of property tax valuations as guide prices in Wellington, New Zealand. Housing Studies, 31(5), 578-597. Lin, T. C., & Evans, A. W. (2000). The Relationship between the Price of Land and Size of Plot when Plots are Small. Land Economics, 386-394. Markusen, J. R. (1979). Elements of real asset pricing: a theoretical analysis with special reference to urban land prices. Land Economics, 55(2), 153-166. Nelson, A. C. (1988). An Empirical Note on How Regional Urban Containment Policy Influences an Interaction between Greenbelt and Exurban Land Markets. Journal of the American Planning Association, 54(2), 178-184. Palmquist, R. B., & Danielson, L. E. (1989). A Hedonic Study of the Effects of Erosion Control and Drainage on Farmland Values. American Journal of Agricultural Economics, 71(1), 55-62. Peiser, R. B. (1987). The Determinants of Nonresidential Urban Land Values. Journal of Urban Economics, 22(3), 340-360. Pogodzinski, J. M., & Sass, T. R. (1990). The Economic Theory of Zoning: a Critical Review. Land Economics, 66(3), 294-314. Pollakowski, H. O., & Wachter, S. M. (1990). The Effects of Land-Use Constraints on Housing Prices. Land Economics, 66(3), 315-324. Rosen, S. (1974). Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition. Journal of Political Economy, 82(1), 34-55. Said, S. E., & Dickey, D. A. (1984). Testing for Unit Roots in Autoregressive-Moving Average Models of Unknown Order. Biometrika, 71(3), 599-607. Samuels, M. (2004). The Impact of Downzoning on Agricultural Land Value in New Jersey. New Jersey: Study by Clarion/Samuels Associates for the New Jersey Farm Bureau. Sirmans, S., Macpherson, D., & Zietz, E. (2005). The Composition of Hedonic Pricing Models. Journal of Real Estate Literature, 13(1), 1-44. Thorsnes, P. (2000). Internalizing Neighborhood Externalities: The Effect of Subdivision Size and Zoning on Residential Lot Prices. Journal of Urban Economics, 48(3), 397-418. Thorson, J. A. (1997). The Effect of Zoning on Housing Construction. Journal of Housing Economics, 6(1), 81-91. Vaillancourt, F., & Monty, L. (1985). The Effect of Agricultural Zoning on Land Prices, Quebec, 1975-1981. Land Economics. 61(1), 36-42. Wen, H., & Goodman, A. C. (2013). Relationship between urban land price and housing price: Evidence from 21 provincial capitals in China. Habitat International, 40, 9-17. Zhou, J., McMillen, D. P., & McDonald, J. F. (2008). Land values and the 1957 comprehensive amendment to the Chicago zoning ordinance. Urban Studies, 45(8), 1647-1661. |
Description: | 碩士 國立政治大學 地政學系 107257024 |
Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0107257024 |
Data Type: | thesis |
DOI: | 10.6814/NCCU202001254 |
Appears in Collections: | [地政學系] 學位論文
|
Files in This Item:
File |
Description |
Size | Format | |
702401.pdf | | 3108Kb | Adobe PDF2 | 0 | View/Open |
|
All items in 政大典藏 are protected by copyright, with all rights reserved.
|