Historic Amenities and Housing Externalities: Evidence from the Netherlands
We study the economic effects of public investments in historic amenities by looking at their impact on house prices. We distinguish between direct and indirect effects of investments. A nationwide housing transaction is used as well as data on investments in cultural heritage. A 1 million euro per square kilometre increase in investments in cultural heritage leads to a price increase of 1.5–3.0% of non‐targeted buildings. We do not find evidence that the maintenance state of non‐eligible properties is improved, suggesting that any price effect due to investments in cultural heritage is a direct effect of investments.
Paradigm Shifts. Patterns and dynamics of innovation processes in urban planning and design.
Through the case study of the paradigm shift from modernist housing estates to compact mixed-use urban neighbourhoods this study investigates how profound novelties enter the discipline of urban planning and design. It neither focuses on the reasons for change (why?) nor on its results (what?), instead it seeks to provide insights on how a novel approach is created, disseminated and established as new routine. It finds that the compact mixed-use city model has been collectively produced and shaped by actors in an intense search for a new consensus in a milieu of heightened uncertainty, and it was successfully spread and established by referring to pressing needs in rather arbitrary ways. The study contributes to basic research in the fields of planning theory and planning history. The object of this research is the transformation in the conceptualization and planning of new housing estates in the Federal Republic of Germany and in Austria from the 1960s until today. The field of housing estates was one of the origins of the paradigm shift under investigation. As the provision of large-scale housing continues to pose a challenge to contemporary policy makers, understanding how novelties enter this field is of high importance.
One of the most important results of the economic reforms in the housing sector initiated by the law “On Privatization of Housing in the RSFSR” in July 1991 is a fundamental change in the role played by the federal government in the functioning and development of the housing sector. Critically, the government stopped operating as the principal centralized source of housing construction finance. Simultaneously, an attempt was made to improve targeting of government investments in the housing sector, which, despite acute budget deficits, the state continued to provide for the social policy goals. The intensive restructuring of the housing finance system driven by the critical condition of the state budget was truly unprecedented. Before the economic reform started in 1991, the budget was responsible for almost 80 percent of the total volume of new housing. By mid-1999 the share of developers in state ownership was down to 11.3 percent, with only 8.6 percent of the housing built by developers in federal ownership.
Characteristics is given to the concepts “housing”, “residential premise”; legal category “residential premise” is considered from the point of view of embodiment of national (basic) standard housing, established by the State; system of viewpoint of European Court in Human Rights under the name “concept of housing” developing from authority to authority is being analyzed; the issue of diffusion of inter-subject concepts “housing” and “residential premise” in connection with the process of State integration into common legal and economic European space is being considered; the shortcomings of legal definition “residential premise” are being disclosed, as not reflecting its essence, purposefulness and variety of forms of its existence; in this respect the main conclusion on introduction of changes into art.15 and 16 of Housing Code has been made.
The article attempted to analyze the categories of "dwelling" and "accommodation" with the doctrinal and normative point of view. Analyzed the jurisprudence of the Perm region in matters of classification of premises in office and industrial buildings to the category of dwelling. Attempted to identify the criteria for allocation to the residential premises.
The authors of the article identify the legal issues arising because of the apartment-market development. The article describes the apartment-market, including performance indicators of the scope of proposal in the primary housing market in apartment buildings and apartments in Moscow-city; the volume distribution of apartments proposal on administrative districts of Moscow-city, the price relation for 1 square meter of total apartment space in apartment buildings and apartments depends on the administrative district of Moscow. The articles analyses the legal status of the apartments and the reasons for the apartment market development.
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.