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An Economic Analysis of Town Planning Institutions

Timlin, Raymond LU (2011) NEKM01 20102
Department of Economics
Abstract
This thesis will look at the profession of Town Planning from an economic perspective utilising New Institutional Economics (NIE) to focus on how different institutions and structures bring about trade- offs. As planning systems have considerable influence over property rights (the ability to affect one’s own lands) and over transaction costs by intervening in land markets, they are strongly contested with doubts being expressed over their rationale and existence. The key planning instrument is the land-use plan which aspires to steer development and infrastructure of an area and achieve social benefits. The level of detail and binding nature of land use plans are important considerations as interests involved in land markets are... (More)
This thesis will look at the profession of Town Planning from an economic perspective utilising New Institutional Economics (NIE) to focus on how different institutions and structures bring about trade- offs. As planning systems have considerable influence over property rights (the ability to affect one’s own lands) and over transaction costs by intervening in land markets, they are strongly contested with doubts being expressed over their rationale and existence. The key planning instrument is the land-use plan which aspires to steer development and infrastructure of an area and achieve social benefits. The level of detail and binding nature of land use plans are important considerations as interests involved in land markets are affected by decisions made in the planning system. The dimensions of flexibility, negotiation possibilities, public participation, co-ordination and enforcement incur differences in development outcomes and in controlling externalities. The planning systems as found in the UK, the Netherlands and Houston in the US are chosen to due to the differences in terms of expectations of what their planning systems should achieve outcomes and how it should occur. The 3 different systems were found to have different results according to these dimensions result in different trade-offs and outcomes with flexibility and co-ordination playing large roles. It is significant that all 3 planning systems gone through recent reforms to correct some the negative aspects that different emphasises on the dimensions has caused. (Less)
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author
Timlin, Raymond LU
supervisor
organization
course
NEKM01 20102
year
type
H1 - Master's Degree (One Year)
subject
keywords
Town Planning, land use plans, institutional economics, land markets
language
English
id
1884659
date added to LUP
2011-06-17 12:41:00
date last changed
2011-06-17 12:41:00
@misc{1884659,
  abstract     = {This thesis will look at the profession of Town Planning from an economic perspective utilising New Institutional Economics (NIE)  to focus on how different institutions and structures bring about trade- offs. As planning systems have considerable influence over property rights (the ability to affect one’s own lands) and over transaction costs by intervening in land markets, they are strongly contested with doubts being expressed over their rationale and existence. The key planning instrument is the land-use plan which aspires to steer development and infrastructure of an area and achieve social benefits.  The level of detail and binding nature of land use plans are important considerations as interests involved in land markets are affected by decisions made in the planning system. The dimensions of flexibility, negotiation possibilities, public participation, co-ordination and enforcement incur differences in development outcomes and in controlling externalities.  The planning systems as found in the UK, the Netherlands and Houston in the US are chosen to due to the differences in terms of expectations of what their planning systems should achieve outcomes and how it should occur. The 3 different systems were found to have different results according to these dimensions result in different trade-offs and outcomes with flexibility and co-ordination playing large roles.  It is significant that all 3 planning systems gone through recent reforms to correct some the negative aspects that different emphasises on the dimensions has caused.},
  author       = {Timlin, Raymond},
  keyword      = {Town Planning,land use plans,institutional economics,land markets},
  language     = {eng},
  note         = {Student Paper},
  title        = {An Economic Analysis of Town Planning Institutions},
  year         = {2011},
}