RESIDENTIAL SORTING AND ENVIRONMENTAL EXTERNALITIES: THE CASE OF NONLINEARITIES AND STIGMA IN AVIATION NOISE VALUES

This paper explores the sorting process in response to differing levels of aviation noise exposure in a housing market. Spatiotemporal hedonic pricing (HP) and stated choice (SC) results reflect nonlinearities and stigma. The HP models reveal nonlinear noise depreciation increasing from 0.40 to 2.38 percent per decibel as noise increases, while the SC noise values are lower in an area with high long‐term noise exposure. These nonlinearities are attributed to the spatial sorting of noise tolerant individuals. HP results from the same “noisy” area show a “stigma” from noise during the first year after the complete removal of aviation noise.     

Planning reform and development rights in Greece: institutional persistence and elite rule in the face of the crisis

This paper discusses the process of development rights allocation in Greece and the changes to that process which occurred from 2009 onward. It argues that the interaction of institutions which regulate the allocation of development rights, with social practices of formal and informal land development, gives rise to development pathways which demonstrate institutional persistence. In the case of Greece, these pathways range from ‘urban development by state organisations’, to development without planning permission on land that is not owned by the developer. The crisis was a shock to the Greek governance system, yet the analysis in this paper shows that the reforms of the development rights allocation process followed the pre-existing ‘mentality of rule’. The paper therefore argues that development pathways reflect a political arrangement between the ruling elites and other social strata. The technologies of governance and the associated institutions and practices which support elite rule, were sustained, if not reinforced, during the crisis. This analytical approach therefore offers insights of relevance to other countries in Europe and around the world which contemplate reforms to their development rights allocation system.     

When Innovation Does Not Pay Off: Introducing the “European Regional Paradox”

In the last few decades, innovation has been widely recognized to be the engine of wealth and prosperity as it intensifies competition and increases productivity, which both in turn lead to significant economic benefits such as higher income per capita and increased employment. However, empirical evidence in this article illustrates that innovation seems not to have paid-off for some of the most innovative regions in Europe, as these regions, despite being highly innovative, grow at a slower pace than their national counterparts, as well as presenting poor economic outcomes such as low income per capita and high unemployment rates. The aim of this article is to communicate this intriguing observation to both innovation scholars and to policy-makers, since its very existence seems to cast doubt not only on one of the most principal assumptions in the field of innovation studies (i.e. innovation as the engine of growth) but also on one of the most fundamental pillars currently underpinning several regional, national and supranational economic policies.     

Urban Development Projects in Moscow: Market/State Relations in the New Russia

Major political and economic changes have taken place in Russia and these have impacted on the nature of development projects. This paper explores the three largest projects in Moscow that have been built or planned in recent years; the Manezh Square shopping development, the rebuilding of the Christ the Saviour Cathedral and the planned international office quarter 'Moscow City'. These projects are analysed in the context of the changing relationship between politics and the market. In the conditions of the New Russia market principles have been deployed in a particular way and the public-private relationship has taken on a distinctive form.