2022/09/13 by Yi Zhu, Mi Diao
Economics, Econometrics and Finance · Engineering · #Aviation Industry Analysis and Trends #Housing Market and Economics #Urban and Freight Transport Logistics
paper · doi:10.1177/0739456x221121247
openalex publication_date 2022/09/13 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/25
Using Singapore as an example, we find that the opening of new rail transit lines can boost retail property values in areas not only along the new lines (local effect) but also along the existing lines (network effect) due to the increase in network size. We also show the local effect of a new rail line changes over time at different development stages. Ignoring the time-varying local effect and the network effect could lead to biased estimates of the value-added of rail transit and misguide policy formation in rail transit investment, land value capture, and transit-oriented development.