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Planning by contract: the leasehold foundation of a comprehensively planned capitalist land market
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TLDR
Hong Kong has used a system of planning by consent that predates planning by edict as discussed by the authors, which has been effective in generating fiscal revenue and producing good planning outcomes in a resource-poor economy.Abstract:
Hong Kong has used a system of planning by consent that predates planning by edict. By selling long leases on a contractual basis, the government has an incentive to provide the contractual terms, obligations and rights to the leaseholder that maximise the value of the land. This system has been effective in generating fiscal revenue and producing good planning outcomes in a resource-poor economy.read more
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Urban renewal and redevelopment: Social justice and property rights with reference to Hong Kong's constitutional capitalism
TL;DR: In this article, the authors present a review of urban renewal literature going back to 1960 in terms of diverse meanings and means, espoused reasons for government-led urban renewal, and the notion of holding out.
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The Coase Theorem and planning for sustainable development
Lawrence W.C. Lai,Frank T. Lorne +1 more
TL;DR: In this article, the authors discuss the potential contribution and limitations of the Coase Theorem to the theorisation of sustainable development, and propose a change in the mindsets of parties to a negotiation and Schumpeterian innovations.
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Lessons learned from China's fall into the poverty trap
TL;DR: In this paper, the authors illustrate how the situation in China during the current period of reform should not be forgotten when other developing countries consider the pros and cons of China's rapid development.
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Measuring and interpreting the effects of a public-sector-led urban renewal project on housing prices - An empirical study of a comprehensive development area zone developed upon 'taking' in Hong Kong
TL;DR: In this paper, the authors empirically evaluated the panel data for a district in which two large-scale commercial properties have been developed in a comprehensive development area (CDA) statutorily rezoned from commercial/residential status on land taken by compulsory purchase by a public urban renewal agency in Hong Kong.
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The Inner Logic of the Coase Theorem and a Coasian Planning Research Agenda
TL;DR: In this article, the authors explore the inner logic of and apply the Coase Theorem to empirical planning research and explore seven theoretical propositions developed on the basis of seven law and policy relevant determining variables that are manifestations of ways of assigning rights and liabilities for the application of CIT (COTE).
References
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A transaction-cost theory of land use planning and development control
TL;DR: In this article, the authors compare the opportunity costs of alternative institutional arrangements and conclude that the cost of government intervention is greater or smaller than the alternative of the unregulated market, which is a special case answer to the broader question of the societal role of planning which is still being debated.
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The economics of land-use zoning: a literature review and analysis of the work of Coase
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Development Rights Markets to Manage Urban Plans in Italy
TL;DR: In this paper, an analysis of the major case studies of development rights markets in Italy is presented, showing that markets for development rights do not replace the command-and-control tools traditionally used in planning.
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The leasehold system as a means of planning by contract: the case of Hong Kong
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Planning and Property Rights in Hong Kong under Constitutional Capitalism
TL;DR: In this article, the authors identify and discuss some constitutional law issues arising from the tensions and contradictions between the statutory land use planning and related regulations in Hong Kong and its Basic Law, and argue that these tensions are crucial from land economics and political points of view in the context that half the population of Hong Kong, a faithful student of laissez-faire philosophy, has been living in public if n...