Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 3, 2009 erstellt
Description:
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