Development control, planning incentive and urban redevelopment: evaluation of a two-tier plot ratio system in Hong Kong

Tang, BS; Tang, Roger M.H.

doi:10.1016/s0264-8377(98)00035-0

Cited by 49 publications

(28 citation statements)

References 0 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The abundance in planning data in Hong Kong has, in fact, had attracted a number of researchers to carry out econometric inquiries (e.g., Tang and Tang, 1999;Lai and Ho, 2001a, 2001b, 2001c, 2001d, 2002a, 2002b, 2002c, 2003Chau and Lai, 2004;Yung, 2004) long before such data became available electronically. However, there has hitherto been no study on the determinants of developers' decisions to submit planning applications.…”

Section: Planning In Hong Kongmentioning

confidence: 99%

Time Is of the Essence? An Empirical Application of the Corollary of the Coase Theorem

Lai

Wong

et al. 2008

Rev Urban & Reg Develop

View full text Add to dashboard Cite

Applying the corollary of the Coase Theorem to the development market developed in Lai et al. (2007a), we evaluate the proposition that procedural steps to use resources are not contingent on property rights assignment, unless the associated transaction costs are positive or property rights are ambiguous. Using aggregate statistics regarding planning applications for residential use, property prices, construction costs, share prices, interest rates, and application success rates in Hong Kong from 1985 to 2005, we evaluated, using regression techniques, the null hypothesis that there was no change in the relationship between readiness for submission of planning applications and property prices in response to changes in the time limits imposed on planning permissions. The relationship was more pronounced or strengthened (less obvious or weakened) when time limits were first imposed and shorter (longer). This can be explained in terms of the transaction costs of switching resource allocation according to the time limit.

show abstract

Section: Planning In Hong Kongmentioning

confidence: 99%

Time Is of the Essence? An Empirical Application of the Corollary of the Coase Theorem

Lai

Wong

et al. 2008

Rev Urban & Reg Develop

View full text Add to dashboard Cite

show abstract

“…For example, Tang, Tang, and Roger (1999) evaluated the effectiveness of a new zoning incentive (two-tier plot ratio system) in Hong Kong and concluded that it didn't achieve the stated objective in increasing private sector site amalgamation for new urban housing redevelopment. While the Hong Kong scholars are more specific and focused on the local issues, some overseas scholars are more interested in the modelling and measurement of sustainable development, which tend to be more universally applicable and of higher theoretical value.…”

Section: Introductionmentioning

confidence: 99%

A system dynamics model for the sustainable land use planning and development

Shen

Chen

Tang

et al. 2009

Habitat International

Self Cite

191

View full text Add to dashboard Cite

“…Most researchers have often assumed that the direction of correlation runs solely from planning to the market, and hence have largely ignored the possibility that the property market can influence the planning system, particularly the developers' incentive to make planning applications. Unlike past empirical works on planning decisions, which were concerned mainly with factors that could affect the decisions of regulatory bodies (Tang and Tang, 1999;Tang, Choy and Wat, 2000;Lai and Ho, 2001a, b, c, d;Lai and Ho, 2002a, b, c;Lai and Ho, 2003;Chau and Lai, 2004;Lai and Chan, 2004;Tang, Wong, and Lee, 2005), this short article investigates the possible effects of property prices on the decisions of developers during the development process under different planning arrangements within a neo-institutional arrangement framework developed on the basis of the Coase Theorem (Coase, 1960).…”

Section: Introductionmentioning

confidence: 99%

Time Is of the Essence: The Idea of the Corollary of the Coase Theorem and a Possible Application

Lai

Yung

2007

Rev Urban & Reg Develop

View full text Add to dashboard Cite

Extant theories on the application of the Coase Theorem to the development market have focused on the effects of zoning on the environment or upon property prices. As an original contribution to the Coasian research on the interface between the development market and the statutory planning machinery, this article seeks to develop a Coasian proposition informed by what has been called the corollary of the Coase Theorem, which allows for an empirical examination of the impact of property prices on decisions to use resources under different institutional arrangements. Our proposition is that the procedural steps taken to consume resources are not contingent on property prices unless the associated transaction costs are positive or property rights ambiguous.

show abstract

Development control, planning incentive and urban redevelopment: evaluation of a two-tier plot ratio system in Hong Kong

Cited by 49 publications

References 0 publications

Time Is of the Essence? An Empirical Application of the Corollary of the Coase Theorem

Time Is of the Essence? An Empirical Application of the Corollary of the Coase Theorem

A system dynamics model for the sustainable land use planning and development

Time Is of the Essence: The Idea of the Corollary of the Coase Theorem and a Possible Application

Contact Info

Product

Resources

About