Barriers to urban spatial development: Evidence from the 2010–2011 Christchurch earthquakes
研究新西兰基督城地震前后土地价值变化，发现地震导致的结构资本损失缓解了相邻土地所有者之间的再开发激励不协调问题，从而减少了城市空间发展的扭曲。
Abstract Rational urban spatial development with durable structural capital entails discontinuous central densification. Such densification can be held back by interdependent redevelopment incentives among adjacent landowners—a market failure that distorts spatial development. We investigate such distortion in Christchurch, New Zealand, by studying land‐value change across neighborhoods in the city before and after the 2010‐2011 earthquakes. We show that neighborhood‐wide loss in structural capital due to seismic hazard exposure raised land value in central neighborhoods but reduced it in non‐central ones. These divergent land‐value changes reflect the mitigation of spatial‐development distortion because of reduced barriers to neighborhood redevelopment.