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The Impact of Transport Infrastructure on Productivity, Employment Center Growth, and Land Values in the Seoul Region

Lee, Jae Kwang; (2019) The Impact of Transport Infrastructure on Productivity, Employment Center Growth, and Land Values in the Seoul Region. Doctoral thesis (Ph.D), UCL (University College London). Green open access

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Abstract

Transport infrastructure investment has been a pillar of urban and regional development strategies as well as a key policy tool for economic growth in the European Union, the United States, China and many other countries. It has also been regarded as one of the key planning tools for tackling a range of urban and regional issues. However, the link between transport infrastructure investment and economic performance remains unclear. Debates regarding the magnitude of the effects of transport infrastructure investment on economic performance have been ongoing for decades, and it is still unclear how and to what extent transport infrastructure investment leads to increased economic performance and economic development. This knowledge gap makes it difficult draw any reliable conclusion about the impact of transport infrastructure investment and makes it difficult for policy makers to evaluate transport infrastructure projects. In addition, little is known about the economic effects of transport infrastructure at the micro level. In the present research, sophisticated statistical and spatial methods have been used to better understand and analyse the impact of transport infrastructure on economic performance. // This research aims to provide reliable empirical evidence regarding the effect of transport infrastructure on three aspects of economic performance: productivity, employment centre growth and land values. The objective of this research is to (1) develop empirical strategies for the three analyses and create various accessibility measures and spatial variables, (2) investigate the link between transport-induced economic effects and firm productivity, (3) examine the relationship between transportinduced labour accessibility and the growth of employment centres and (4) explore the impact of rail transit investment on residential and commercial land values. // The results reveal that transport infrastructure is influential in promoting productivity, employment centre growth and land values. Specifically, (1) transport-induced workforce accessibility is positively related to firm productivity, (2) transport-induced labour accessibility is a determinant of job growth in employment centres and (3) the completion of rail transit leads to positive yet modest proximity and accessibility effects on residential and commercial land in the vicinity of rail stations as well as on land in the wider neighbourhood of rail stations. Transport infrastructure can lead to an Abstract 4 increase in economic performance and economic development. The economic effects of transport infrastructure include more than just time-saving benefits. It not only reduces travel costs but also increases productivity, land values and job growth in employment centres. The spatial extent of the economic effect of transport infrastructure is not confined to the area near the transport network but can extend to the wider neighbourhood beyond the vicinity of the transport network.

Type: Thesis (Doctoral)
Qualification: Ph.D
Title: The Impact of Transport Infrastructure on Productivity, Employment Center Growth, and Land Values in the Seoul Region
Open access status: An open access version is available from UCL Discovery
Language: English
Additional information: Copyright © The Author 2019. Original content in this thesis is licensed under the terms of the Creative Commons Attribution 4.0 International (CC BY 4.0) Licence (https://creativecommons.org/licenses/by/4.0/). Any third-party copyright material present remains the property of its respective owner(s) and is licensed under its existing terms. Access may initially be restricted at the author’s request.
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment
URI: https://discovery.ucl.ac.uk/id/eprint/10079995
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