The Research On Economic Externalities Of Urban Renewal Projects

As national economic development mode transforms and upgrades and the urbanization progresses rapidly,urban scale,capacity and structure are shocked dramatically.Meanwhile,most of cities control the newly-added land use strictly,and control the disorder expanding of new districts and development areas of new cities.The conflict between urban development demands,residents' living demands and land supply becomes prominent increasingly,and the future urban development mainly depends on activating stock and saving intensive use of land.As the effective mode of improving land-use efficiency,optimizing urban industrial structure,and promoting urban functional transformation,urban renewal is implemented massively in China.At present,urban renewal has become a normality of urban construction,and it is parallel with the high-speed urban propulsion.However,Chinese urban renewal is endowed with the responsibility of pushing economic development inevitably with the establishment of market economy system and the influence of local government's tax sharing system,and most of urban renewal projects are driven by economic benifits.As the basis of project implementation,economic problems become the emphasis concerned by developers and the plan which government formulates and implements,one of the major indicators measuring plan scheme.Studying economic externality generated by urban renewal project can provide more scientific guidance and specifications for implementation of urban renewal project,which is extremely important for promoting the long-term urban development and prosperity.In this project,the economic externalities of urban renewal project is studied from the perspective of project.First,based on economic externality,the economic externality of urban renewal is defined,and the principles for generating economic externality of urban renewal project are discussed,proposing that urban renewal project generates economic externality through utility value and mechanism of supply and demand balance,sorting out the acting path of economic externality of urban renewal projects.Second,based on principles,acting mechanism and path for the generation of economic externality project of urban renewal project,the characteristic factors of economic externality of urban renewal projects is identified and studied preliminarily with literature study,and moreover,the hedonic price model is established.Third,taking Shenzhen urban renewal project as an example,it found out that urban renewal project can effectively reduce the negative influences genenrated by the areas before renewal through employing model and combining with the actual transaction data,and the influences are very strong within the scope of 400 meters.Business and office are the main factors for generating the positive externality,while plot ratio is the main factor for generating the negative externality.In the end,the relevant suggestions on how to guaranttee the economic externality of urban renewal project are proposed.economic externality.