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Transformation for Feature Upgrades or Higher Property Prices: Evidence from Industrial Land Regeneration in Shanghai

Sustainability, 2022-05, Vol.14 (9), p.5280 [Peer Reviewed Journal]

2022 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License. ;ISSN: 2071-1050 ;EISSN: 2071-1050 ;DOI: 10.3390/su14095280

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  • Title:
    Transformation for Feature Upgrades or Higher Property Prices: Evidence from Industrial Land Regeneration in Shanghai
  • Author: Yang, Fan ; Tao, Peihong ; Cai, Xiao ; Wang, Jiayin
  • Subjects: Bivariate analysis ; Construction ; Econometrics ; Efficiency ; Growth rate ; Housing prices ; Hypotheses ; Industrial development ; Industrial parks ; Industrial production ; Leasing ; Manufacturing ; Site planning ; Sustainable development ; Transformation ; Transformations ; Urban development
  • Is Part Of: Sustainability, 2022-05, Vol.14 (9), p.5280
  • Description: In recent years, an increasing amount of industrial land has been left idle in China. This gave rise to a wide range of urban issues hindering sustainable urban development. To solve this problem, industrial land transformation has been promoted. However, factors affecting industrial land transformation have not been adequately explored. To fill this gap, this study employs the bivariate K-function to analyze the spatial association between agglomeration patterns of industrial land parcels and living quarters. Moreover, a series of discrete choice models (i.e., the LOGIT, PROBIT, and IVPROBIT model) are adopted to examine empirically complicated relationships between industrial land transformation and its influencing factors. This study argues that the land price and its rising expectations are major determinants of industrial land transformation. The results revealed that transformation-oriented industrial land tended to be located next to accessible living quarters with higher prices. A higher-level industrial park typically had less possibilities for industrial land transformation. The findings also indicated that production efficiency served as a moderator variable to regulate the transformation process. Implications are formulated for policymakers to guide industrial land transformation in an appropriate manner.
  • Publisher: Basel: MDPI AG
  • Language: English
  • Identifier: ISSN: 2071-1050
    EISSN: 2071-1050
    DOI: 10.3390/su14095280
  • Source: GFMER Free Medical Journals
    ROAD: Directory of Open Access Scholarly Resources
    ProQuest Central
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