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Informační a komunikační technologie v České republice / Information and Communication Technologies in the Czech RepublicHonsa, Viktor January 2011 (has links)
Development of information and communication technologies (ICT) has recently increasing importance. ICT has therefore become one of the effective tools in process of optimization and increase of competitiveness on the market. As a result of this trend, there are already some studies, having ambitions to explicitly formulate their importance. The application of ICT in the Czech Republic is similar, but there are not many studies with such ambitions. This thesis analyzes (i) the relations between, the use of ICT, total factor productivity and growth of gross added value in the Czech Republic in 1997-2007 based on growth accounting and (ii) based on econometric analysis of panel data for the Czech Republic, also estimates the importance of selected determinants influencing adoption of ICT. The output of the thesis consists of (i) determining the contribution of each input and discussion of possible synergies of ICT capital deepening and total factor productivity and (ii) specification of variables that are, based on the formulated model, shown to be statistically significant and they may affect the adoption of ICT.
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Postmerger financial performance: econometric analysis / Postmerger Financial Performance: Econometric AnalysisVolgina, Vera January 2009 (has links)
There are numerous researches done in the last couple decades dedicated to the observation of impact of merges and acquisitions on the performance of the company. The topic is considered to be up-to-date, as still there is no common approach to evaluating of benefits mergers are about to bring to a new established entity. In this thesis the issue of post-merger financial performance is investigated on an example of three biggest energy companies in Europe: RWE, E.ON and Vattenfall. The aim of the thesis is to find out whether financial performance of chosen companies improves after the merger occurs. This target is elaborated with a help of the analysis of commonly used financial ratios in corporate finance and construction of two regression models, which explain the interrelations between basic indicator of the company's growth (net income), the fact of the merger and determined financial ratios. As an outcome of the research, a few findings were obtained, such as worsening of financial performance three to five years after the merger, with continuing improvement in further years, quite stable financial indicators before the merger, positive interconnection between the fact of the merger and the net income. Such outcomes might be considered as significant, though further research and elaboration of the topic can be performed in the future.
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La consommation énergétique du secteur tertiaire marchand : le cas de la France avec données d’enquête à plan de sondage complexe / Energy consumption in tertiary buildings : the French case with complex sample survey dataMadelenat, Jill 16 December 2016 (has links)
Cette thèse porte sur la consommation énergétique du secteur tertiaire marchand en France. Notre approche est empirique, et s’appuie sur l’Enquête sur les Consommations d’Énergie dans le Tertiaire (ECET). À partir d’une revue de littérature consacrée à l’étude économétrique des déterminants de la consommation énergétique des bâtiments (résidentiels ou tertiaires), nous mettons en évidence la coexistence de deux méthodes d’estimation, sur lesquelles nous revenons. Nous exposons également les consensus ou les débats portant sur les effets des déterminants étudiés. Dans la mesure où les données mobilisées dans cette thèse sont issues d’une enquête à plan de sondage complexe, nous présentons les outils statistiques adaptés à l’exploitation de données issues de ce type d’échantillonnage, puis nous analysons la controverse qui continue d’exister sur l’estimation de modèles économétriques sur données d’enquête. Nous mobilisons alors notre base de données pour fournir une première description statistique des consommations énergétiques du secteur tertiaire marchand en France. Cette description statistique s’appuie sur nomenclature que nous construisons afin d’obtenir des informations à l’échelle infra-sectorielle. Enfin, nous utilisons l’ensemble des méthodes et approches préalablement identifiées pour étudier les déterminants de la demande énergétique des établissements tertiaires sur la base d’une analyse économétrique des données de l’ECET. Cela nous conduit à effectuer une double lecture de nos résultats, à la fois comme éléments de réponse à la question de l’impact des variables étudiées sur la demande d’énergie des établissements, et comme éléments de comparaison des différentes méthodes. / This thesis deals with energy consumption in the French tertiary buildings. We adopt an empirical approach based on a French national survey, the Tertiary Buildings Energy Consumption Survey (l’Enquête sur les Consommations d’Énergie dans le Tertiaire (ECET)). From a literature review, we present the econometric analyses of the drivers of energy consumption in buildings (residential and tertiary). This review highlights the coexistence of two estimation methods. We discuss these methods, and then we detail consensus and debates on the effects of every driver that has already been analyzed in the literature. Because the data we use are complex sample survey data, we describe the statistical tools that must be used to analyze this type of data, and next present the still controversial issue of econometric modeling based on survey data. Then we use our database to produce a first statistical description of energy consumption in tertiary buildings. This description is based on a nomenclature that we establish to obtain information at the subsector level. Finally, we use all the methods and approaches identified previously to study the drivers of the tertiary buildings’ energy demand by implementing an econometric analysis on the ECET data. This lead to a double analysis of our results, both as elements of knowledge on the impact of each driver on energy consumption and as materials that help to compare the different methods to use.
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A Stated Preference Study for Assessing Public Acceptance Towards Autonomous VehiclesChristos Gkartzonikas (5929697) 29 April 2020 (has links)
<div>Technology is rapidly transforming both vehicles and transportation systems. The nature of this transformation will depend on how fast the technology resulting from three related revolutions, those in automated, electric, and shared vehicles, will diffuse. At the same time, the ‘sharing’ economy is growing and affecting mobility in urban areas that includes additional travel alternatives, such as car-sharing services, ride-hailing services, bike-sharing services, and other micro-transit services. It is evident that to prepare for these large-scale operations involving autonomous vehicles (AVs), researchers and transportation professionals need the useful insights on people’s attitudes toward and on acceptance of AVs that can be gained through behavioral experiments. In addition to this, it is also important to understand how the deployment of AVs will impact vehicle ownership and mode choice decisions.</div><div><br></div><div>The goal of this dissertation is to assess the public acceptance of AVs and shared autonomous vehicles (SAVs) via a behavioral experiment (stated preference survey) and offer insights on the potential implications of AVs and SAVs on mode choices. The following four overarching research objectives were formulated: (a) identifying the factors influencing the behavioral intention to ride in AVs; (b) identifying the characteristics of the AV market segments; (c) evaluating the attributes impacting personal vehicle ownership decisions (i.e., decisions to postpone the purchase of a non-AV due to the emergence of AVs); and (d) assessing the factors affecting mode choice decisions after the emergence of autonomous ride-sharing services operated through AVs, and evaluating the corresponding value of travel time savings. The results of each part of the research framework are integrated in the last chapter of the dissertation in order to provide the final conclusions and recommendations of the study.</div><div><br></div><div>To achieve these research objectives, a survey of the general population was distributed online in a major urban area with an advanced multimodal transportation system and captive users of ride-sharing users (Chicago, Illinois) and in an urban area with a more automobile-oriented culture (Indianapolis, Indiana). The survey sample included 400 responses of adults, representative of age and gender on each area. </div><div><br></div><div>One of the contributions of this dissertation is a theoretical model to assess the behavioral intention to ride in AVs that includes components of the theory of Planned Behavior, the theory of Diffusion of Innovation and additional factors derived from the literature while evaluating possible interrelationships between these components. A more holistic approach along these lines can help explain whether the emerging AV technology can diffuse by identifying the factors and key determinants that influence the behavioral intention to ride in AVs. The market segmentation analysis can further provide knowledge of the socio-demographic characteristics of potential AV users and an accurate classification of these groups of potential users in terms of their willingness to ride in AVs. The findings can provide insights into perceptions of and attitudes toward AVs that can help transportation and urban planners, as well as original equipment manufacturers, to prepare for the deployment of AVs by designing marketing strategies to improve people’s perceptions of AVs and increase market penetration.</div><div><br></div><div>Moreover, this dissertation provides a well-documented and easy-to-use framework that can support both planning and policy decisions in urban areas in an era of emergent automated transportation technologies. In urban areas with advanced multimodal transportation networks, the framework can be applied to identify the impact attributes affecting shared mobility in urban settings. In urban areas with a more car-oriented culture, the framework can be applied to explore the potential impacts of the emergence of AVs on personal vehicle ownership patterns. Finally, the survey that was designed to fulfill the goal of this dissertation can be replicated and distributed in metropolitan areas outside the US with more advanced multimodal transportation systems or areas within the US with traditionally higher rates of affinity to innovativeness and areas where AVs have been pilot-tested in real-world road conditions.</div><div><br></div>
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La nouvelle économie fondée sur la connaissance dans la région arabe : vers une nouvelle stratégie de développementAlsalman, Mohammad 10 July 2012 (has links)
Cette thèse s'inscrit dans le cadre de l'économie de développement, et tente de traiter la question de blocage économique dans la région arabe, une situation qui a longtemps marqué cette zone. Nous proposons une nouvelle carde d'analyse qui adopte la notion de l'économie fondée sur la connaissance (EFC), qui a été élaboré par la Banque Mondiale, dans laquelle cette économie est composée de quatre piliers, a savoir : incitation économique et régime institutionnel, éducation et ressources humaines, Système d'innovation et l'infrastructure d'information (TIC). La thèse emploie le concept de l'EFC afin d'inspecter, d'analyser et d'évaluer la situation économiques dans les pays arabes depuis l'indépendance et jusque la veille des révolutions arabes, nommé : le printemps arabe. A travers de cette thèse nous élaborons plusieurs types d'analyse, et à la fin de thèse nous proposons un modèle économétrique permettant l'évaluation de la contribution de la connaissance à la croissance et au développement dans ces pays. / This thesis is part of the economics of development. It addresses the issue of the economic morass in which the Arab region has been mired for decades. We suggest a new analytical framework that builds upon the concept of knowledge-based economies and its four pillars – economic incentive and institutional regime, education and human resources, innovation system, and, finally, information infrastructure (ICT) - as conceived by the World Bank. Our thesis mobilizes this concept of knowledge-based economies in order to analyze and evaluate the state of the economy in the Arab region from the independence period to the eve of the revolution in Arab countries ' Arab spring'. Throughout the thesis, we develop several types of analysis and we conclude with an econometric model, that assesses the contribution of knowledge to growth and development in the Arab region.
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La combinaison de réglementation et de responsabilité civile environnementale : manifestations et efficacité dans le droit françaisBentata, Pierre 19 April 2012 (has links)
A l'origine de l'étude se trouve un paradoxe ; alors que l'analyse économique met en avant la nécessité de réglementer les activités dangereuses pour l'environnement et les hommes, on voit émerger dans la plupart des pays développés des systèmes hybrides, de plus en plus complexes, mêlant réglementation et responsabilité civile pour traiter ces problématiques. Pour expliquer ce décalage entre théorie économique et évolution juridique, la première partie de la thèse revient sur les fondements de l'économie de l'environnement et propose une approche opérationnelle qui permet de déterminer l'efficacité de chaque institution – propriété, responsabilité et réglementation – selon les caractéristiques des situations et des risques envisagés. Ce faisant, elle aboutit à la conclusion que seul un système combinant les institutions de la responsabilité civile et de la réglementation publique des activités risquées est à même de promouvoir le développement tout en maîtrisant ses dangers. Confrontant cette théorie nouvelle au cas français, la thèse met en évidence les interactions des deux acteurs clés du système, le juge et le régulateur, et observe l'influence positive et réciproque de l'un sur l'autre. A l'aide d'une base de données unique regroupant l'ensemble des litiges environnementaux traités devant la Cour de Cassation et le Conseil d'Etat au cours des soixante dernières années, la seconde partie éclaircit les rôles de chaque institution et démontre que loin d'être paradoxal, le système français a évolué spontanément vers davantage de cohérence et d'efficacité grâce à l'information diffusée par les tribunaux. / Most developed countries use a mix of public regulation and civil liability to cope with environmental risks and damages. Though, a vast majority of economic scholars tend to favour a regime of pure regulation in the domain of environmental accidents, arguing that liability cannot provide incentives for polluters and potential injurers to take socially desirable care. Our dissertation aims to answer this paradox between legal reality and economic theory. In the first part of our study, we develop an operational approach of the concept of externality based on the concrete characteristics that represent an impediment to individual cooperation and thus to the application of property rights. This method allows us to compare the efficiency of public regulation and civil liability and to reach a clear-cut conclusion: in the most complex situations, neither regulation nor liability is able to encourage socially desirable care and to ensure complete compensation for victims at the same time. In these situations, joint use of both legal instruments might be superior to regulation or liability alone because it enables each instrument to overcome the inefficiencies of the other, through interactions and informational transfers occurring between judges and regulators. In the second part, we test our theory in the French case. To observe the existence of institutional interactions between judges and regulators, we create a unique dataset gathering the whole litigations on environmental accidents from cases adjudicated by the Court of Cassation since 1956. Our econometric results show that joint use of regulation and liability emerged to promote economic efficiency of the legal system.
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DEMOCRACY, INSTITUTIONS AND GROWTH: EXPLORING THE BLACK BOXROSSIGNOLI, DOMENICO 16 April 2013 (has links)
La letteratura economica e politologica evidenzia un ampio consenso sull’esistenza di un effetto positivo sulla crescita di lungo periodo da parte di diritti di proprietà, stato di diritto e, in generale, istituzioni economiche. Contestualmente, il rapporto tra democrazia e crescita rimane teoricamente poco chiaro mentre l'evidenza empirica è in gran parte inconcludente. Questo studio cerca di riconciliare i fatti stilizzati su crescita e democrazia qui evidenziati, che dimostrano l'esistenza di un "successo sinergico" negli ultimi trent'anni, con la teoria esistente e l’evidenza empirica. Dopo aver dettagliatamente scandagliato la letteratura esistente, questo studio suggerisce che l’effetto della democrazia sulla crescita di lungo periodo sia indiretto, mediato dalle istituzioni. Per testare questa ipotesi si propone un modello di analisi originale, applicato ad un panel di 194 paesi osservati nel periodo 1961-2010, utilizzando lo stimatore System-GMM e una vasta gamma di controlli. I risultati dell’analisi suggeriscono che la democrazia è positivamente correlata a istituzioni “più favorevoli” alla crescita economica, in particolare diritti di proprietà e stato di diritto. Inoltre, l’evidenza empirica supporta la tesi di un effetto indiretto complessivamente positivo della democrazia sulla crescita. Infine, si propone uno sviluppo ulteriore dell’analisi, concentrato sulle determinanti della democrazia, ricercando possibili concause nell’interazione con i processi economici. / Economic and political science literature show a wide consensus about the positive effect of property rights, contract enforcing arrangements and, more generally, economic institutions to long-run growth. Conversely, the linkage between democracy and growth remains unclear and not conclusively supported by empirical research. This work is an attempt to reconcile the stylized facts about democracy and growth –evidencing a long-run “synergic success” between the two terms – with theoretical and empirical literature. After thoroughly surveying the relevant literature on the topic, this study claims that the effect of democracy on long-run growth is indirect, channeled by the means of institutions. To test this hypothesis, the thesis provides an original analytical framework which is applied to a panel of 194 countries over the period 1961-2010, adopting a System-GMM estimation technique and a wide range of robustness controls. The results suggest that democracy is positively related to “better” (namely more growth-enhancing) institutions, especially with respect to economic institutions and rule of law. Hence, the findings suggest that the overall effect on growth is positive, indirect and channeled by institutions. However, since the results are not completely conclusive, a further investigation is suggested, on further determinants of democracy, potentially affecting its pro-growth effect.
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Využívání sociální sítě Facebook obcemi ČR / The Use of Facebook by the Czech MunicipalitiesTurková, Kateřina January 2017 (has links)
This diploma thesis discusses the evaluation of the extent and way of using the social network called Facebook by the municipalities of the Central Bohemia Region, participating in the local Agenda 21. The subjects of the research are official Facebook pages of the municipalities on the mentioned social network. Emphasis is placed on revealing the relationships between the characteristics of individual municipalities and their activity, or the way of using Facebook. The theoretical part of the thesis provides definitions of the basic terms and the theoretical background. The research questions are formulated in the Methodology chapter. They are answered in the research section of this thesis by using combination of research methods. Official Facebook pages were created by four municipalities (until the 1 January 2016) from total number of twelve municipalities and small municipalities, participating in the local Agenda 21 in the Central Bohemian Region. According to the results of the econometric analysis, the higher the unemployment rate in these municipalities, the more likely it is that the municipality has an official Facebook page.
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DETERMINANTS OF AND RETURNS TO INNOVATION ACTIVITIES WHICH SPAN ORGANIZATIONAL BOUNDARIES: EMPIRICAL STUDIES ON A PANEL OF SPANISH FIRMSKask ., Sean Tyler 27 January 2012 (has links)
Determinantes y beneficios de las actividades de innovación que trascienden las fronteras organizativas: Estudios empíricos de un panel de empresas españolas
Tesis Doctoral
Sean Kask
Las empresas se relacionan cada vez más con agentes que se encuentran fuera de sus fronteras organizativas con el objetivo de desarrollar innovaciones tanto de productos como de procesos. Los tres estudios empíricos que componen esta tesis exploran los determinantes y beneficios de las actividades de innovación orientadas hacía el exterior. En los tres estudios se estiman diferentes modelos econométricos basados en un panel de empresas españolas.
El primer estudio investiga los factores que determinan que las empresas manufactureras elijan entre el desarrollo interno, la colaboración o el desarrollo externo como estrategia para el desarrollo de nuevos productos. A partir de constructos derivados de la teoría de los costes de transacción, la visión basada en recursos y la teoría de la organización industrial, los resultados destacan las diferencias existentes entre la colaboración y la contratación como modos de gobernanza de la innovación. En primer lugar, los resultados muestran que la incertidumbre de mercado tiende a llevar a las empresas a la colaboración pero no al desarrollo externo; mientras que las empresas son más proclives a colaborar bajo condiciones de incertidumbre tecnológica. En segundo lugar, los resultados ponen de manifiesto una relación en forma de U-invertida entre la capacidad de I+D de la empresa y la probabilidad de colaborar (en comparación con el desarrollo interno) y una relación negativa con la adquisición externa, reflejando una tensión entre el 'efecto de la necesidad' de encontrar fuentes externas de innovación cuando la capacidad interna es baja, y el 'efecto de la complementariedad' entre estas capacidades internas y la aptitud para beneficiarse de estas fuentes externas. / Kask ., ST. (2011). DETERMINANTS OF AND RETURNS TO INNOVATION ACTIVITIES WHICH SPAN ORGANIZATIONAL BOUNDARIES: EMPIRICAL STUDIES ON A PANEL OF SPANISH FIRMS [Tesis doctoral no publicada]. Universitat Politècnica de València. https://doi.org/10.4995/Thesis/10251/14574 / Palancia
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空地開發外部性對住宅土地價格影響之研究-台南市的實證分析 / Spatial Externalities Impact of development of vacant land on Residential Land Prices-Evidence from Tainan City曾菁敏, Tseng,Ching Min Unknown Date (has links)
人類的思考決策與行為結果,大多是依循一個明確的市場制度而為的,故市場經濟制度的重要性,就在於有利個人形成如何有效配置資源的合理預期,同時也富有約束及激勵個人行為的誘因,讓個人能在制度約束的條件下,追求自利動機的極大化。都市空地再利用及市地重劃的法令制度,就具有這樣的經濟效應,所以本研究主要在探討,在空地再利用及市地重劃制度的約束與激勵條件下,都市中的經濟人行為決策與個體互動所形成的空間外部性,其會如何反應在住宅土地價格的變動,以探討空地再利用及空地開發所產生的空間外部性對住宅土地價格之影響。本文主要包括(1)空地再利用對住宅土地價格之影響;(2)空地再利用及鄰里土地開發對新建住宅土地價格之影響;(3)空間外部性、交易成本與市地重劃對新建住宅土地價格之影響等。
首先,有關「空地再利用對住宅土地價格之影響」,本文以Geoghegan(2002)的理論模型為基礎,主要探討空地再利用所產生的開放空間效果,其對於住宅土地價格的影響分析。本文運用地理資訊系統及空間計量分析,並建立民國九十三年及九十四年住宅土地的特徵價格模型,研究對象以台南市為例。實證結果發現,公有空地再利用作為公園及臨時停車場使用,其對於住宅土地價格產生正的空間外溢效果,此表示空地再利用所產生的開放空間的外溢利益,其大於空地管理維護的外溢成本。私有空地再利用作為運動場使用,民國九十三年的外部成本大於外部利益,但於民國九十四年的外部利益大於外部成本,故就私有空地再利用的外溢效果而言,私有空地再利用作為運動場使用的外溢效果可由負向轉為正向。公有空地再利用的邊際價格較私有空地再利用的邊際價格為高,故政府應繼續推動公有空地再利用的政策,以彌補鄰里的開放空間不足。
其次,有關「空地再利用及鄰里土地開發對新建住宅土地價格之影響」,本文主要在探討空地再利用所產生的開放空間效果,及鄰里土地開發所產生的空間外溢效果,兩者對於新建住宅土地價格的影響分析,本研究範圍以台南市民國九十三年的新建住宅為對象。實證結果發現,公有空地再利用對於新建住宅土地價格具有正的空間外溢效果,此表示開放空間的外溢利益大於空地管理維護的外溢成本。鄰里土地開發作為住宅使用時,會對新建住宅土地價格形成正的空間外溢效果,但當鄰里土地開發作為工廠使用時,卻會對新建住宅土地價格形成負的空間外溢效果。最有價值的住宅土地為,開放空間數量最大化及土地開發數量的最小化,故當永久性的開放空間(如鄰里公園)、可開發性的開放空間(如公有空地再利用)數量增加,以及鄰里工廠土地開發數量減少等,其將有助提高新建住宅土地價格。
最後,有關「空間外部性、交易成本與市地重劃對新建住宅土地價格之影響」,本文主要從政府實施市地重劃有助於降低交易成本的觀點,探討政府實施市地重劃制度及建設商的土地開發行為所產生的空間外部性,其反應在新建住宅土地價格的影響。本文運用空間計量分析及地理資訊系統,並結合Box-Cox函數轉換,以建構具有空間外部性的特徵價格模型。本文研究範圍以台南市民國八十年、八十五年及九十年的新建住宅為對象。實證結果得知,空間誤差Box-Cox模型對於空間外部性提供良好的解釋力。政府實施市地重劃之後對住宅土地價格具有正向外部性,且有政府參與的重劃區所反應的住宅土地邊際價格為正向關係。而建設商個體互動關係則具有正向及負向外部性,並在長期下出現由正向轉為負向之情況,此證明空間外部性會呈現相互性的現象,進而反應在新建住宅土地價格上會有增減的作用。 / This study mainly assumes that development of vacant land give rise to spatial externalities from the reuse of vacant land and the institution of land readjustment. Finally, this effect will be reflected in the residential land prices. To test this hypothesis, this study applies spatial econometric and geographic information systems based on hedonic pricing model. This study mainly includes that (1) The Impact of Reusing Vacant Land on Residential Land Prices, ( 2) The Impact of Reusing Vacant Land and Neighboring Land Development on Newly-Built Residential Land Prices, ( 3) The Impact of Spatial Externalities, Transaction Costs and Land Readjustment on Newly-Built Residential Land Prices, and evidence from Tainan City in Taiwan.
First of all, about’ The Impact of Reusing Vacant Land on Residential Land Prices’, This study is based on Geoghegan’s theoretical model (2002) and focuses on open space effect of reusing vacant land on residential land prices. The data are selected from residential land prices in 2004, 2005. Empirically, I find that the reuse of publicly-owned vacant land used for green and park has positive spatial spillover effects. This means that spillover benefit of open space is more than spillover cost of vacant land management. The reuse of privately-owned vacant land used for sport has negative spatial spillover effects in 2004. The marginal price of publicly-owned vacant land is over than privately-owned vacant land. It is concluded that, the government should continue promoting the reuse of publicly-owned vacant land and used for open space of the neighborhood.
Secondly, about’ The Impact of Reusing Vacant Land and Neighboring Land Development on Newly-Built Residential Land Prices’, This study focuses on open space effect of reusing vacant land and spatial spillover effect of neighboring land development on newly-built residential land prices. The data are selected from newly-built residence in 2004. Empirically, I find that the reuse of publicly-owned vacant land has positive spatial spillover effects on newly-built residential land prices. This means that spillover benefit of open space is more than spillover cost of vacant land management. Land development used for residence has positive spatial spillover effects and used for factory has negative spatial spillover effects in a neighborhood. This means that more the reuse of publicly-owned vacant land will increase newly-built residential land prices, while more land development used for factory will decrease newly-built residential land prices in a neighborhood.
Finally, about’ The Impact of Spatial Externalities, Transaction Costs and Land Readjustment on Newly-Built Residential Land Prices’, This Study mainly assumes that land readjustment can reduce transaction costs in terms of the spatial externalities from developers’ behavior and the institution of land readjustment. This effect will be reflected in the newly-built residential land prices. To test this hypothesis, I apply spatial econometric analysis and geographic information systems based on the Box-Cox hedonic pricing model. The data are selected from newly-built residence from between 1991, 1996 and 2001. Empirically, I find that the spatial error Box-Cox model is appropriate for engaging in spatial externalities analysis. This is because the results show that land readjustment gives rise to positive spatial externalities on newly-built residential land prices and the marginal price of residential land in areas where land readjustment takes place is also positive. The effects of developers’ interactions give rise to positive spatial externalities but these change to negative spatial externalities in relation to newly-built residential land prices in the long term. It is concluded that, land readjustment as implemented by the government really does contribute to reducing uncertainty in the land development process, and also reduces transaction costs between construction practitioners and landlords.
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