Factor Analysys of Spatial Repercusssions in Land Price by Panel Data

Abstract

Japan had experienced the sudden rise and fall of land price for last ten years, which had never occured before. The sudden change in land price caused many social and economical problems. This study aims to explain the mechanism of the repercussion in land price variation between regions by panel data analysis. By analysing panel data, we found that there was a phenomenon of spatial repercussion in land price variation. We also analysed the factors of repercussion in land price variation by a model analysis using Generalized Least Square Method.