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Abstract

Several articles have theoretically and empirically verified favorable changes in the value per square meter of properties near urban mass transit infrastructure. The main purpose of this study was to demonstrate this effect under an unbiased specification using Geographical Information Systems GIS and advanced econometric techniques Pooled Cross Sections, Spatial Econometrics, Box-Cox Transformation and Structural Change. Particularly, if the construction of the bus rapid transit BRT infrastructure impacted the price market per square meter or asking price of the residential and commercial properties in Bogota and Barranquilla Colombia with access to the BRT. Results indicated the true private monetary or higher valuation of such properties, caused by public investment over several years 1999-2011. This effect is conceived as a positive economic externality of the BRT projects



Item Type: MPRA Paper -

Original Title: The Effects of the Bus Rapid Transit Infrastructure on the Property Values in Colombia-

English Title: The Effects of the Bus Rapid Transit Infrastructure on the Property Values in Colombia-

Language: English-

Keywords: Property value; BRT infrastructure; Colombia; advanced econometric techniques; unbiased specification-

Subjects: C - Mathematical and Quantitative Methods > C5 - Econometric Modeling > C52 - Model Evaluation, Validation, and SelectionL - Industrial Organization > L9 - Industry Studies: Transportation and Utilities > L92 - Railroads and Other Surface TransportationR - Urban, Rural, Regional, Real Estate, and Transportation Economics > R1 - General Regional Economics > R14 - Land Use PatternsR - Urban, Rural, Regional, Real Estate, and Transportation Economics > R2 - Household Analysis > R23 - Regional Migration ; Regional Labor Markets ; Population ; Neighborhood CharacteristicsR - Urban, Rural, Regional, Real Estate, and Transportation Economics > R4 - Transportation Economics > R42 - Government and Private Investment Analysis ; Road Maintenance ; Transportation Planning-





Autor: Perdomo Calvo, Jorge Andrés

Fuente: https://mpra.ub.uni-muenchen.de/79611/







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