Impacts of a Pedestrianisation Scheme on Retail Rent - An Empirical Study in Hong Kong

16 Pages Posted: 4 Jun 2009

See all articles by Edward Chung Yim Yiu

Edward Chung Yim Yiu

University of Auckland Business School

Date Written: June 3, 2009

Abstract

Most of the previous studies on the impacts of pedestrianised areas on the environment were qualitative ones, and without controls. This study, in contrast, using panel market data in Hong Kong to estimate the effect of a pedestrianisation scheme on the retail rent of the area, in a controlled manner. The results show a net 17% increase in rental value of retail shops in the pedestrianised area is achieved, ceteris paribus.

Keywords: Pedestrianised areas, retail rent, empirical test

JEL Classification: C93

Suggested Citation

Yiu, Edward Chung Yim, Impacts of a Pedestrianisation Scheme on Retail Rent - An Empirical Study in Hong Kong (June 3, 2009). Available at SSRN: https://ssrn.com/abstract=1414108 or http://dx.doi.org/10.2139/ssrn.1414108

Edward Chung Yim Yiu (Contact Author)

University of Auckland Business School ( email )

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Private Bag 92019
Auckland, 1010
New Zealand

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