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作者

Hee Jin Yang;Mack Joong Choi

来源

JOURNAL OF HOUSING AND THE BUILT ENVIRONMENT,Vol.34,Issue4,P.987-1004

语言

英文

关键字

Korean housing development;Apartment complex;Community and commercial facilities;Agglomeration benefits;Causal mediation analysis

作者单位

Research Institute of Agriculture and Life Sciences,Seoul National University,Seoul,Republic of Korea,,,;Graduate School of Environmental Studies,Seoul National University,Seoul,Republic of Korea,,,

摘要

The Korean government has codified a unique set of regulations that requires developers to provide certain types and sizes of community and commercial facilities in proportion to the number of housing units in an apartment complex, given the lack of public funds necessary to create a livable and self-sufficient environment. To answer the question of why large-scale apartment complexes have been popular in the Korean housing market, this study illuminates the agglomeration benefits resulting from the integration of community and commercial facilities in apartment complexes. Using hedonic regressions and causal mediation analysis, it concludes that the agglomeration benefits of apartment complexes associated with an increase in the size of both community and commercial facilities outweigh the congestion diseconomies caused by an increase in the number of housing units. This implies that the government’s intervention has made large-scale development of residential areas financially feasible without the use of public expenditure.