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Premium Effect And Land Value Capture Along Urban Rail Transit

Posted on:2020-10-02Degree:MasterType:Thesis
Country:ChinaCandidate:D F ZhangFull Text:PDF
GTID:2439330575998452Subject:Industrial Economics
Abstract/Summary:PDF Full Text Request
Vigorously developing urban rail transit is an important transportation measure in major cities in China in recent years,especially in some capital cities in the central and western regions.However,the problem of "operating income cannot offset investment and construction expenditure" has always restricted the development of urban rail transit in these cities.The idea of "internalization of external effects through the comprehensive development of rail transit and the realization of premium recovery of rail transit" has also been basically recognized.However,there has been no consensus on the mode of operation and core elements of comprehensive development in China,which has seriously affected the sustainable process of "realizing the premium recovery of rail transit by comprehensive land development".Based on this,this paper takes the premium effect of urban rail transit as the starting point and uses HPM to study the premium law of rail transit.On this basis,the general framework of"recovering the premium of rail transit by comprehensive land development" is constructed,and the core elements affecting the recovery efficiency are proposed,and corresponding policy recommendations are given.Firstly,this paper theoretically analyzes the mechanism of the premium effect of rail transit,and concludes that the accessibility and expected effects are the causes of the time and space effects of the premium and the heterogeneity.Then use the HPM model for empirical analysis.Taking the time distance of walking road network as the index to measure the accessibility,and verifying the premium law of rail transit by using the first phase project of Zhengzhou Metro Line 1 and Line 2 as the empirical research object.The results show that the premium effect of rail transit is significantly positive overall;It presents a "U"-type heterogeneity in space;and there is temporal heterogeneity in the construction and operation of rail transit:from the overall effect of the premium,the operating period>the construction period;in addition,during the construction period The premium effect is the weakest within the 4-8 min walk from the site.On the basis of the above,this paper further studies how the rail transit enterprises can realize the recovery of this part of the premium through comprehensive land development.Firstly,several common practices in China are downgraded to the factor level and summarized into six typical premium recovery models,and then a general framework of "realized land transportation premium recovery" is constructed.The framework points out that "to integrate land The development and realization of premium recovery is actually the three responsible entities of "local government","railway enterprise" and "social capital party"to realize comprehensive development through the coordination and unification ofrailway construction" and "property development".The overall benefits and the process of maximizing the benefits of each responsible entity.At the same time,based on the comparative analysis of typical cases,this paper refines the three core elements of rail transit enterprises to achieve premium recovery through this method:the way in which the land for the track property is transferred,the positioning of the rail transit enterprise,and the way the social capital party enters.In addition,the study found that due to the differences in capital requirements and the scale of passenger flow at various stages of rail transit,there are differences and interpretations of the comprehensive development model choices at different stages of rail transit development in each city.Finally,taking Zhengzhou as an example,combined with the empirical results of the article and the general framework of "recovering premiums through comprehensive land development",it provides suggestions on how to effectively realize the premium recovery of rail transit enterprises in Zhengzhou.At present,the cities with rapid development of rail transit construction,especially those in the central and western regions,are mostly faced with the difficulty of raising funds for rail transportation.This part of the proposal can also provide reference for other cities.The full text focuses on Zhengzhou City as a case to calculate the premium effect law of rail transit,discusses the typical practices of comprehensive development of rail transit land in various cities,and builds a general framework for realizing premium recovery by comprehensive land development,and gives the effect of affecting premium recovery.The core elements provide policy recommendations for achieving premium recovery through comprehensive development of urban rail transit land,providing an important reference for local governments and rail transit related departments.
Keywords/Search Tags:Urban Rail Transit, Transit Joint Development, Land Value Capture
PDF Full Text Request
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