Abstract
Land use regulation per se is neither good nor bad. What matters is the cost and benefit of specific regulations in specific market conditions. This paper presents a straightforward cost-benefit framework for analyzing land use and related regulations in such a context, and presents an application of the method to Malaysia. We use these results to illuminate several important issues, namely the effects of such land use regulations on housing markets, how to use such analyses to suggest revisions to common land use regulations, and what changes in higher-order incentives facing regulatory authorities might be required to encourage an appropriate regulatory environment for urban land.
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