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Article: Institutional innovations in land development and planning in the 20th and 21st centuries

TitleInstitutional innovations in land development and planning in the 20th and 21st centuries
Authors
KeywordsInstitutional innovations
Institutional changes
Land market
Planning market
Issue Date2018
PublisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/habitatint
Citation
Habitat International, 2018, v. 75, p. 90-95 How to Cite?
AbstractThis paper attempts to stocktake the major institutional innovations in land development and planning markets in the 20th century, and looks ahead to how these ideas may affect the evolution of institutions in the 21st century. Major ideas discussed include, i) public-private-partnerships; ii) zoning and participatory planning; iii) land readjustment and developers' obligations; iv) transfer of development rights; v) Coasean bargaining; and vi) informal institutions. We suggest that the foci of institutional innovations in the present century will shift from 20th century preoccupations as a result of rapid technological development and increasing environmental concerns. The keys for success in the institutional innovations to emerge will hinge on their abilities to reduce transaction costs for market exchange through new technologies, and align property right structures to achieve common goals of preserving the globe without compromising present economic needs too much.
Persistent Identifierhttp://hdl.handle.net/10722/258508
ISSN
2019 Impact Factor: 4.31
2015 SCImago Journal Rankings: 1.038
ISI Accession Number ID

 

DC FieldValueLanguage
dc.contributor.authorChau, KW-
dc.contributor.authorChoy, HT-
dc.contributor.authorWebster, CJ-
dc.date.accessioned2018-08-22T01:39:39Z-
dc.date.available2018-08-22T01:39:39Z-
dc.date.issued2018-
dc.identifier.citationHabitat International, 2018, v. 75, p. 90-95-
dc.identifier.issn0197-3975-
dc.identifier.urihttp://hdl.handle.net/10722/258508-
dc.description.abstractThis paper attempts to stocktake the major institutional innovations in land development and planning markets in the 20th century, and looks ahead to how these ideas may affect the evolution of institutions in the 21st century. Major ideas discussed include, i) public-private-partnerships; ii) zoning and participatory planning; iii) land readjustment and developers' obligations; iv) transfer of development rights; v) Coasean bargaining; and vi) informal institutions. We suggest that the foci of institutional innovations in the present century will shift from 20th century preoccupations as a result of rapid technological development and increasing environmental concerns. The keys for success in the institutional innovations to emerge will hinge on their abilities to reduce transaction costs for market exchange through new technologies, and align property right structures to achieve common goals of preserving the globe without compromising present economic needs too much.-
dc.languageeng-
dc.publisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/habitatint-
dc.relation.ispartofHabitat International-
dc.subjectInstitutional innovations-
dc.subjectInstitutional changes-
dc.subjectLand market-
dc.subjectPlanning market-
dc.titleInstitutional innovations in land development and planning in the 20th and 21st centuries-
dc.typeArticle-
dc.identifier.emailChau, KW: hrrbckw@hku.hk-
dc.identifier.emailChoy, HT: lennonchoy@hku.hk-
dc.identifier.emailWebster, CJ: cwebster@hku.hk-
dc.identifier.authorityChau, KW=rp00993-
dc.identifier.authorityChoy, HT=rp02078-
dc.identifier.authorityWebster, CJ=rp01747-
dc.identifier.doi10.1016/j.habitatint.2018.03.011-
dc.identifier.scopuseid_2-s2.0-85045570291-
dc.identifier.hkuros287724-
dc.identifier.volume75-
dc.identifier.spage90-
dc.identifier.epage95-
dc.identifier.isiWOS:000435751000009-
dc.publisher.placeUnited Kingdom-

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