|This centre is a member of The LSE Research Laboratory [RLAB]: CASE | CVER | CEP | SERC | STICERD||Cookies?|
Paper No' SERCDP0202: | Full paper
Save Reference as: BibTeX File | EndNote Import File
Keywords: housing, planning, regulation, historic preservation, construction, land
JEL Classification: H89; L51; L74; D62; R21; R31; R38; R52; R58
Is hard copy/paper copy available? YES - Paper Copy Still In Print.
This Paper is published under the following series: SERC Discussion Papers
Share this page: Google Bookmarks | Facebook | Twitter
Abstract:I investigate the welfare effect of conservation areas that preserve historic districts by regulating development. Such regulation may improve quality of life but does so by reducing housing productivity – the efficiency with which inputs (land and non-land) are converted into housing services. Using a unique panel dataset for English cities and an instrumental variable approach, I find that cities with more conservation areas have higher house prices for given land values and building costs (lower housing productivity) and higher house prices for given wages (higher quality of life). The overall welfare impact is found to be negative.
This paper has been published as:
'The Preservation of historic districts - is it worth it?', Sevrin Waights, Journal of Economic Geography, February 2018
Copyright © RLAB & LSE 2003 - 2020 | LSE, Houghton Street, London WC2A 2AE | Contact: RLAB | Site updated 25 May 2020