Research On The Externality Of The Urban Rail Transit

Twenty first century, it is generally realized by all the countries in the world that developing the public transit system is the fundamental way to solve the city transit problem. The urban rail transit is characteristic in large transit quality, quick rapid and good environment protection, so it takes great effect in solving city transit jams, improving city space structure, protecting city environment and promoting city sustainable development. However,according to the constructing and operating actuality, most urban rail transits are still allowanced by the government with a low profit except Honkong, London and Tokyo. As quasi city public goods, the urban rail transit has great externality. According to Western Economics , this paper make a classifying, analyzing, evaluating and internalizing research on the externality, in order to minimize the negative externality of the urban rail transit and maximize the positive one. Firstly, the urban rail transit externality is classified into the positive and the negative according to the effect of the externality influence. For the negative, countermeasures are presented respectively. According to the benefit of the supply subject, the positive externality is classified into the direct positive externality of the urban rail transit and the indirect one. It would be possible for the rail transit to make a profit if the direct positive externality be internalized. Consequently, it is demonstrated that the land increment is biggest direct externality. The land increment theory is dissertated by using Land Tax Theory. Secondly, this paper presents the appraisal method of the urban rail transit externality, including Contingent Value Method, Land Price Function Model, Transit Cost and Land Price theory, and Hedonic Price Method. Primarily, Hedonic Price Method is presented in detail and the HPM of WuHan Rail Transit is established. Finally, by using the theory and city management theory, this paper puts forward the countermeasures to internalize the positive externality inter internality, which are as following: Imposing real estate tax and annual land tax as Pigou's view; Having an integrative zoning between rail transit and land use as city management theory; As Coase's view, having a joint development by enduing the rail transit company with the developing right along the rail transit line.