Delays in obtaining development approvals have been advanced as a major reason for shortages if not also increase in cost of housing. This paper is the first systematic attempt to examine whether the apparently long period of time taken to obtaining statutory planning permissions by developers...

A state monopoly over a scarce natural resource under open access can arguably reduce the costs of supply by constraining rent dissipation. A monopoly over the collection and trading of sand was formed in Hong Kong by legislation in 1935 in the wake of disputes between sandmen and villagers and...

This interdisciplinary study, which references previous research on the evolution of land law and real world examples of land market operating with unclear property boundaries, demonstrates that Ronald Coase’s argument that delimitation of property rights is a prelude to market transaction...

Hong Kong has used a system of planning by consent that predates planning by edict. By selling long leases on a contractual basis, the government has an incentive to provide the contractual terms, obligations and rights to the leaseholder that maximise the value of the land. This system has been...

"Hong Kong has used a system of planning by consent that predates planning by edict. By selling long leases on a contractual basis, the government has an incentive to provide the contractual terms, obligations and rights to the leaseholder that maximise the value of the land. This system has...

This paper uses 1372 sets of cross-sectional data to evaluate empirically the probit estimates for five hypotheses regarding planning applications for the conversion of leasehold land lying fallow or under active agriculture to nonagricultural uses in agriculture zones in Hong Kong. Though the...

Through comprehensive case studies of privately planned cities and neighbourhood in Asia, Europe and North America, this book characterizes the theoretical basis and empirical manifestations of private urban planning. In this innovative volume, Andersson and Moroni develop an under-studied...

This paper discusses the espoused and actual achievements of government urban planning in Hong Kong in terms of the ideas of Hayek and Mises. With reference to observed facts, it is argued that it is indeed the spontaneous forces of the land market predicated on a leasehold system, a system of...