Murtaza Haider

Effects of Transportation Infrastructure and Location on Residential Real Estate Values: Application of Spatial Autoregressive Techniques

Proximity to transportation infrastructure (highways and public transit) influences residential real estate values. Housing values also are influenced by propinquity to a shopping facility or a recreational amenity. Spatial autoregressive (SAR) models were used to estimate the impact of locational elements on the price of residential properties sold during 1995 in the Greater Toronto Area. A large data set consisting of 27,400 freehold sales was used in the study. Moran’s I was estimated to determine the effects of spatial autocorrelation that existed in housing values. SAR models, using a combination of locational influences, neighborhood characteristics, and structural attributes, explained 83 percent variance in housing values. Using the “comparable sales approach,” a spatiotemporal lag variable was estimated for every property in the database. This research discovered that SAR models offered a better fit than nonspatial models. This study also discovered that in the presence of other explanatory variables, locational and transportation factors were not strong determinants of housing values. On the other hand, the number of washrooms and the average household income in a neighborhood were found to be significant determinants of housing values. Stepwise regression techniques were used to determine reduced spatial hedonic models.

Shipper Preferences Suggest Strong Mistrust of Rail: Results from Stated Preference Carrier Choice Survey for Quebec City-Windsor Corridor in Canada

The Quebec City–Windsor corridor is the busiest and most important trade and transportation corridor in Canada. The transportation sector is the second-largest contributor to greenhouse gas emissions in the country. Governments around the world, including Canadas, are considering increasing mode share by rail as a way of reducing transportation emissions. To understand whether freight mode shift is a realistic means of reducing transportation emissions, an analytical model is needed that can predict the effect of government policy on mode split. This paper presents the findings of the first such model developed for the Quebec City–Windsor Corridor. The model itself is a stated preference carrier choice model of shippers in this busy route. The model was developed by using the results of a stated preference survey undertaken in fall 2005. The survey was designed explicitly to evaluate shipper preferences for the carriage of intercity consignments, particularly their preferences for carriers that contract the services of rail companies to carry these shipments via rail. The results of the study (a) show that shippers are mistrustful of using rail to move their consignments and (b) suggest that increasing rails share of freight transport faces tremendous challenges.

Urbanization and Local Governance Challenges in Pakistan

The state of municipal services and infrastructure has deteriorated in Pakistan over the years. With the rapid increase in urbanization in Pakistan the need for effective and efficient local governments is felt more now than ever. The checkered history of local government initiatives in the country has contributed to the poor state of municipal service delivery. The military regimes, in the past, used local governments to create a loyal cadre of politicians who the military later pitted against the democratic forces. With the return of civilian democratic rule in Pakistan, the local governments were often abolished because these institutions were viewed as part and parcel of the military dictatorships. The tug-of-war between the democratic governments and military regimes has left Pakistan with an inadequate local government framework. The challenge for the democratic forces in Pakistan is to realize the importance of local governments and there-fore to take steps to offer them constitutional cover. Failing to do so may lead to further deterioration of urban and rural environments.

Modeling Location Choices of Housing Builders in the Greater Toronto, Canada, Area

An analysis of the spatial choice of housing builders in the greater Toronto area (GTA), Canada, is presented. A spatially disaggregate database of 126,462 new housing units built by 445 builders is used to analyze the determinants of the intrametropolitan location of new housing. Housing starts are classified into four types: single-family detached (SFD), semidetached, condominiums, and row-link housing. An accessibility analysis shows that the GTA remains a monocentric region where accessibility for most activities declines with distance from the central business district. The location choice of homebuilders differs by housing type. For instance, the construction of new condominiums is more likely to be in high-density areas with high accessibility to jobs. Similarly, the likelihood of construction of low-rise (SFD or semidetached) housing is higher in low-density areas with low accessibility to work and other activities. Neighborhood attributes help determine the type of housing likely to be built in the vicinity. Also, the location of low-rise residential units and planned residential construction is influenced by proximity to major transport corridors in the GTA. The location of condominiums is influenced by proximity to the subway system. Builders are attracted to zones with higher dwelling values, where they can obtain higher values for their products. Spatial inertia in housing markets is presented, which implies that the presence of a certain type of housing attracts more housing of that type to the vicinity.

Hedonic Analysis of Office Space Rent

This paper presents the hedonic analysis of office space rent in the Greater Toronto area of Canada. The effects of accessibility, quality, location, and market conditions on rent are explored. Data indicate a high degree of spatial heterogeneity and clustering effects. Spatial analysis techniques are incorporated within the hedonic framework to capture these effects. Results indicate that access to transport infrastructure, distance from the central business district, and vacancy rate are significant in explaining variation in the rent.

Impact of terrorism on FDI flows to Pakistan

This study explores the adverse impacts of terrorism on the net Foreign Direct Investment (FDI) flows to Pakistan. Since 2003, terrorist violence has killed over 52,000 individuals in Pakistan. The unrelenting violence has substantially increased investment and security risks. This study uses time series econometrics to develop theoretically and empirically sound estimates for the impact of terrorism on FDI flows. This study has found that an increase in terrorist violence reduces FDI. Furthermore, the disaggregated analysis by individual sectors explores the nuances in considerations for FDI, where some sectors are affected while others remain immune to terrorism-related risks.

Investing in Ontario's Infrastructure for Economic Growth and Prosperity

This paper documents the potential employment and other value-added benefits of infrastructure investments in Ontario. In particular, it details the impact of infrastructure investment as a counter-cyclical fiscal policy tool. A review of the recent literature reveals that infrastructure investment serves both as a tool for job creation and as a stimulus for the economy as a whole. During recessionary times infrastructure investments have been able to boost the economy and have served as a primary job creation tool, especially when the private sector investments have dried up. At the same time, these investments have produced the infrastructure necessary to support future economic growth. Published research also revealed that the input-output models have been the preferred tool to capture the relationship between infrastructure investments and their impact on economy. Thus, the primary aim of this paper is to illustrate the impact of infrastructure investment on job creation, GDP, and tax revenue in the Province of Ontario using an input-output model. The paper documents the results of a simulation exercise, using an input-output model of the Ontario economy based on a 2008 industry structure that estimated the economic impact of a

The 2012 Smart Growth Report: Progress Towards Smart Growth in Canada

12-billion public sector (government) investment in non-residential building and engineering construction in Ontario. This infrastructure investment is estimated to have a

Beyond the hype

38.4-billion impact on the province’s economy. The

An Analysis of Public Bus Transit Performance in Indian Cities

12-billion investment would create an estimated 203,000 jobs (person-years of employment) in the provincial economy, generate an estimated