抄録
This paper is intended to empirically analyze the effects of zoning ordinance on residential land price. Hedonic land price models are applied to data in both a local city (Sendai) and the capital (Tokyo) of Japan to make an inter-city comparison of economic effects of zoning ordinance. The result of this comparison suggests that it is meaningless to apply the zoning ordinance uniformly regardless of differences in characteristics among cities. Structural change in land price functions with time in a city is investigated as well.
