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Article: Waste disposal and housing price: new evidence from the landfill clean-up program in Hong Kong

TitleWaste disposal and housing price: new evidence from the landfill clean-up program in Hong Kong
Authors
KeywordsLandfill clean-up
housing price
cost–benefit analysis
difference-in-difference
stigma effect
Issue Date2021
PublisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/09640568.asp
Citation
Journal of Environmental Planning and Management, 2021, v. 64 n. 10, p. 1795-1815 How to Cite?
AbstractAccurately measuring the costs and social benefits of environmental programs may have significant public sector policy implications. When considering environmental programs, governments may choose to conduct landfill clean-ups to improve urban living environments and health. However, these programs may generate substantial costs, and it is not clear whether their social benefits can recover these costs. Since the 1990s, the Hong Kong government has restored 13 closed landfills. This study seeks to quantify the short-term social benefits of this landfill clean-up program by measuring its impact on the housing market. Using the difference-in-differences method, we find that housing prices near landfill sites increase about 2.2%, on average, within two years after landfill restoration. However, housing prices show no further change after the restored landfill sites are redeveloped into urban parks and other facilities. We argue that removal of the stigma effect is likely the main channel for housing price hikes. Through a back-of-the-envelope estimation, we find that the social benefits from housing value appreciation can sufficiently recover the program costs.
Persistent Identifierhttp://hdl.handle.net/10722/300902
ISSN
2023 Impact Factor: 4.4
2023 SCImago Journal Rankings: 0.960
ISI Accession Number ID

 

DC FieldValueLanguage
dc.contributor.authorChang, Z-
dc.contributor.authorLi, W-
dc.contributor.authorLi, X-
dc.contributor.authorDeng, C-
dc.date.accessioned2021-07-06T03:11:48Z-
dc.date.available2021-07-06T03:11:48Z-
dc.date.issued2021-
dc.identifier.citationJournal of Environmental Planning and Management, 2021, v. 64 n. 10, p. 1795-1815-
dc.identifier.issn0964-0568-
dc.identifier.urihttp://hdl.handle.net/10722/300902-
dc.description.abstractAccurately measuring the costs and social benefits of environmental programs may have significant public sector policy implications. When considering environmental programs, governments may choose to conduct landfill clean-ups to improve urban living environments and health. However, these programs may generate substantial costs, and it is not clear whether their social benefits can recover these costs. Since the 1990s, the Hong Kong government has restored 13 closed landfills. This study seeks to quantify the short-term social benefits of this landfill clean-up program by measuring its impact on the housing market. Using the difference-in-differences method, we find that housing prices near landfill sites increase about 2.2%, on average, within two years after landfill restoration. However, housing prices show no further change after the restored landfill sites are redeveloped into urban parks and other facilities. We argue that removal of the stigma effect is likely the main channel for housing price hikes. Through a back-of-the-envelope estimation, we find that the social benefits from housing value appreciation can sufficiently recover the program costs.-
dc.languageeng-
dc.publisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/09640568.asp-
dc.relation.ispartofJournal of Environmental Planning and Management-
dc.rightsThis is an Accepted Manuscript of an article published by Taylor & Francis in [JOURNAL TITLE] on [date of publication], available online: http://www.tandfonline.com/[Article DOI].-
dc.subjectLandfill clean-up-
dc.subjecthousing price-
dc.subjectcost–benefit analysis-
dc.subjectdifference-in-difference-
dc.subjectstigma effect-
dc.titleWaste disposal and housing price: new evidence from the landfill clean-up program in Hong Kong-
dc.typeArticle-
dc.identifier.emailLi, W: wfli@hku.hk-
dc.identifier.authorityLi, W=rp01507-
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1080/09640568.2020.1838265-
dc.identifier.scopuseid_2-s2.0-85096982557-
dc.identifier.hkuros323296-
dc.identifier.volume64-
dc.identifier.issue10-
dc.identifier.spage1795-
dc.identifier.epage1815-
dc.identifier.isiWOS:000596208400001-
dc.publisher.placeUnited Kingdom-

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