Does Government Investment in Local Public Goods Spur Gentrification? Evidence from Beijing
研究了北京政府投资绿地、地铁等公共产品是否导致周边地区绅士化，发现奥运村和地铁建设增加了住房供给、推高房价并吸引连锁餐厅，同时居民收入和教育水平上升。
In Beijing, the metropolitan government has made enormous place‐based investments to increase green space and to improve public transit. We examine the gentrification consequences of such public investments. Using unique geocoded real estate, new restaurant count data and demographic data by neighborhood, we document that the construction of the Olympic Village and two recent major subway systems have led to increased new housing supply in the vicinity of these areas, higher local prices and an increased quantity of nearby private chain restaurants. Recent time trends in local resident income and human capital attainment support the claim that these investments have caused local gentrification.