dc.contributor.author |
Filippova, Olga |
en |
dc.contributor.author |
Xiao, Y |
en |
dc.contributor.author |
Rehm, Michael |
en |
dc.contributor.author |
Ingham, Jason |
en |
dc.date.accessioned |
2018-11-16T00:18:18Z |
en |
dc.date.issued |
2018 |
en |
dc.identifier.issn |
0961-3218 |
en |
dc.identifier.uri |
http://hdl.handle.net/2292/44339 |
en |
dc.description.abstract |
The marked increase in the awareness of earthquake risk following the Canterbury earthquakes in New Zealand offered a unique opportunity to investigate the economic effect of disaster-mitigation regulations on the commercial building stock. A difference-in-differences (DD) framework was used to determine whether earthquake risk has been capitalized into the property prices of buildings constructed prior to 1976, as a response to the national policy requiring assessment and strengthening (or demolition) of the existing earthquake-prone building stock. A negative externality is found in the policy announcement on affected (pre-1970s) office and retail buildings which caused office buildings to suffer a 12.5% stigma discount. However, retail properties were less impacted suffering a 2.3% stigma loss. The value of the commercial building stock has been affected by the policy. These findings provide policy-makers with timely evidence as to the economic effects of New Zealand’s earthquake-prone buildings policy. Facing losses in property value and financial responsibility for retrofitting their assets, building owners will be looking for a workable set of regulatory and non-regulatory incentives to encourage disaster risk management and protect the built environment. |
en |
dc.publisher |
Taylor & Francis (Routledge) |
en |
dc.relation.ispartofseries |
Building Research and Information |
en |
dc.rights |
Items in ResearchSpace are protected by copyright, with all rights reserved, unless otherwise indicated. Previously published items are made available in accordance with the copyright policy of the publisher. |
en |
dc.rights.uri |
https://researchspace.auckland.ac.nz/docs/uoa-docs/rights.htm |
en |
dc.title |
Economic effects of regulating the seismic strengthening of older buildings |
en |
dc.type |
Journal Article |
en |
dc.identifier.doi |
10.1080/09613218.2017.1357318 |
en |
pubs.issue |
7 |
en |
pubs.begin-page |
711 |
en |
pubs.volume |
46 |
en |
dc.rights.holder |
Copyright: The author |
en |
pubs.end-page |
724 |
en |
dc.rights.accessrights |
http://purl.org/eprint/accessRights/RestrictedAccess |
en |
pubs.subtype |
Article |
en |
pubs.elements-id |
641421 |
en |
pubs.org-id |
Business and Economics |
en |
pubs.org-id |
Property |
en |
pubs.org-id |
Engineering |
en |
pubs.org-id |
Civil and Environmental Eng |
en |
pubs.record-created-at-source-date |
2017-07-30 |
en |
pubs.online-publication-date |
2017 |
en |