The Effect of Property Value on Crime - A Case Study of the City of Dallas, Texas -
0
조회
0
다운로드
0
인용
0
참고문헌
키워드
초록
Urban crime undermines the safety of a community and ultimately leads to depressed property values. Consequently crime is seen as a critical determinant of property values. Meanwhile, the causal effect of property values on crime appears to be something of a mystery. Higher property values may contribute to improving the environment of a neighborhood and mitigating the occurrence of crime, while at the same time increasing area’s attractiveness as a target to potential criminals. Interestingly, most prior literature has focused merely on the impact of crime on property values and has never clearly examined the possibility of any reverse causality which may exist between property values and crime. This paper analyzes the effect of property values on crime in the City of Dallas, Texas in 2002. Through two stages least squares regression models that control endogeneity of property values and crime, the present study supports the hypothesis that property values influence crime rates. The results demonstrate that the impact of property values on crime rates varies according to the type of property values. Regardless of the types of crime, higher residential property values lead to lower crime rates whereas higher commercial property values are found to cause higher crime rates.
Abstract
Urban crime undermines the safety of a community and ultimately leads to depressed property values. Consequently crime is seen as a critical determinant of property values. Meanwhile, the causal effect of property values on crime appears to be something of a mystery. Higher property values may contribute to improving the environment of a neighborhood and mitigating the occurrence of crime, while at the same time increasing area’s attractiveness as a target to potential criminals. Interestingly, most prior literature has focused merely on the impact of crime on property values and has never clearly examined the possibility of any reverse causality which may exist between property values and crime. This paper analyzes the effect of property values on crime in the City of Dallas, Texas in 2002. Through two stages least squares regression models that control endogeneity of property values and crime, the present study supports the hypothesis that property values influence crime rates. The results demonstrate that the impact of property values on crime rates varies according to the type of property values. Regardless of the types of crime, higher residential property values lead to lower crime rates whereas higher commercial property values are found to cause higher crime rates.
참고문헌 (36)
- Baller, R. D., "Structural Covariates of U.S. County Homicide Rates: Incorporating Spatial Effects", Criminology, 39(3), pp.561~590 (2001)
- Bowes, D. R., "A Two-Stage Model of the Simultaneous Relationship Between Retail Development and Crime", Economic Development Quarterly, 21(1), pp.79~90 (2007)
- Bowes, D. R., "Identifying the Impacts of Rail Transit Stations on Residential Property Values", Journal of Urban Economics, 50(1), pp.1~25 (2001)
- Buck, A. J., "Endogenous Crime Victimization, Taxes, and Property Values", Social Science Quarterly, 74(2), pp.334~348 (1993)
- Buck, A. J., "An Economic Model of Social Sensitivity: The Case of Individual Criminal Behavior", Journal of Quantitative Criminology, 5(4), pp.353~372 (1989)
- Burnell, J. D., "Crime and Racial Composition in Contiguous Communities as Negative Externalities", American Journal of Economics and Sociology, 47(2), pp.177~193 (1988)
- Campbell, D., "Crime and Property Values", pp.19~21 (2008), Business Perspectives
- Cohen, L. E., "Social Change and Crime Rate Trends: A Routine Activity Approach", American Sociological Review, 44, pp.588~605 (1979)
- Cullen, J. B., "Cr ime, Urban Fl ight , and the Consequences for Cities", The Review of Economics and Statistics, 81(2), pp.159~169 (1999)
- Ding, C., "Property Values in Inner City Neighborhoods: The Effects of Homeownership, Housing Investment, and Economic Development", Housing Policy Debate, 13(4), pp.701~728 (2003)
- Dugan, L., "The Effect of Criminal Victimization on a Household’s Moving Decision", Criminology, 37(4), pp.901~929 (1999)
- Fabrigar , L. R, "Evaluating the use of exploratory factor analysis in psychological research", Psychological Methods, 4(3), pp.272~299 (1999)
- Gibbons, S., "The Costs of Urban Property Crime", The Economic Journal, 14, pp.441~463 (2004)
- 구경민, "서울시 뉴타운 개발이 주변지역 주택가격에 미치는 영향 분석 - 2·3차 뉴타운 개발 사업을 중심으로 -", 국토계획, 44(4), pp.79~93 (2009), 대한국토·도시계획학회
- Hakim, S., "Crime Spillover" (1981), Sage
- Hausman, J., "Specification tests in econometrics", Econometrica, 46, pp.1251~1271 (1978)
- Hellman, D. A., "The Impact of Crime on Urban Residential Property Values", Urban Studies, 16, pp.105~112 (1979)
- Jargowsky, P. A., "Poverty and place: ghettos, barrios, and the American city" (1997), Russell Sage Foundation
- Jargowsky, P. A., "Cause or Consequence? The Relationship between Subur-bani zat i on and Cr ime in U.S. Met ropol i tan Areas", Crime and Delinquency, 55(1), pp.28~50 (2009)
- Kain, J. F., "Measuring the value of housing quality", Journal of the American Statistical Association, 65(330), pp.532~548 (1970)
- Land, K. C., "Religious pluralism and church membership: A spatial diffusion model", American Sociological Review, 56(2), pp.237~249 (1991)
- There Goes the Neighborhood? Estimates of the Impact of Crime Risk on Property Values from Megan’s Laws, "Linden, L.", ~, pp.NBER Working Paper, No.12253 (2006)
- Lynch, A. K., "Measuring the impact of crime on house prices", Applied Economics, 33(15), pp.1981~1989 (2001)
- Miethe, T. D., "Crime and its social context: Toward an integrated theory of offenders, victims, and situations, Albany" (1994), State University at New York Press
- Naroff, J. L., "Estimates of the Impact of Crime on Property Values", Growth and Change, 11(4), pp.24~30 (1980)
- Parker, K. F., "Structural condi t i ons and racial homi cide pat terns: A l ook at the multiple disadvantages in urban areas", Criminology, 37, pp.447~473 (1999)
- Rizzo, M. J., "The Effect of Crime on Residential Rents and Property Values", American Economist, 23(1), pp.16~21 (1979)
- Sampson, R. J., "Neighborhoods and violent Crime: A Multilevel Study of Collective Efficacy", Science, 277, pp.918~924 (1997)
- Sargan, J. D., "Wages and Prices in the United Kingdom: A Study in Econometric Methodology. in: Econometric Analysis for National Economic Planning" (1964), Butterworths
- Shaw, C. R., "Juvenile delinquency and urban areas" (1942), University of Chicago Press
- Thaler, D., "A note on the value of crime control: Evidence from the property market", Journal of Urban Economics, 5(1), pp.137~145 (1978)
- Tita, G. E., "Crime and Residential Choice: A Neighborhood Level Analysis of the Impact of Crime on Housing Prices", Journal of Quantitative Criminology, 22(4), pp.299~317 (2006)
- "American Community Survey 2006 Demographic Estimates"[URL]
- Wadsworth, T., "Factors and Black Interracial Homicide: A New Examination of the Causal Process", Criminology, 42, pp.647~672 (2004)
- Wirth, L., "Urbanism as a Way of Life", The American Journal of Sociology, 44(1), pp.1~24 (1938)
- "A Spatial Analysis of Neighborhood Crime in Omaha, Nebraska using alternative measures of crime rates"[URL]