Asia Real Estate Initiative
Subway Network and Urban Vibrancy
Principal Investigators: Siqi Zheng, Adriano Borges Costa (lead)
Researchers: Camila Ramos, Tabea Sonnenschein, Raj A Mehta, Liaoliao Duan, Weizeng Sun
Year: 2020 - 2021
Sponsor: Center for Real Estate
Topics: Real Estate, Infrastructure and Mobility
Access to Urban Vibrancy
How transit extensions promote vibrant urban places
- Subway expansion, jobs accessibility improvements and home value appreciation in four global cities: Considering both local and network effects
- Accessibility to Firms within the New York City Transit System
- Understanding Subway Vibrancy in Live-Work-Play: A Case Study from and for Santiago, Chile.
- Zoning and Urban Vibrancy, a case study of São Paulo, Brazil
- Subway extensions triggering consumer amenities formation in a cross-cities analysis
Global Air Network and Cross-border Venture Capital Mobility
Whether the global air network can facilitate cross-border venture capital movements?
- Based on the difference-in-differences estimate, one additional flight per day leads to an increase in VC investment between the city pair by 0.14 deals on average per year (1.08 times the mean value).
- The heterogeneous analysis indicates that, with more air connections, emerging industries and firms in earlier developmental stages receive more investment, and non-syndication investment increases more than syndication investment.
- The effect significantly increases with geographical distance: city pairs that are far away from each other experience a larger increase in VC flow after flight connections exist.
- Most of this increase in capital flows happen in wealthier cities. Connections between poor cities show little effect on VC flow.