An Empirical Approach to Land Monopoly: The Case of Barranquilla, Colombia

University of Cambridge Real Estate Research Centre, Working Paper Series No. 2015-03

31 Pages Posted: 9 Jul 2016 Last revised: 8 Jun 2019

See all articles by Nestor Garza

Nestor Garza

California State University Dominguez Hills

Colin Lizieri

University of Cambridge - Department of Land Economy

Date Written: January 1, 2015

Abstract

A land monopoly is a theoretical “impossibility” which, nonetheless, allows for a spatial empirical approach. We specify spatial tests of land monopoly, understood as a pricing strategy where land prices can be ‘over and above’ the ones determined by city-wide location and market regulation. We use the city of Barranquilla (Colombia) as a case study. This city offers ideal conditions to investigate theories of land monopoly given extreme land concentration in its highly regulated elite northern fringe. We found no evidence of land monopoly pricing by using different specifications of the spatial tests, which conformed to standard urban economic expectations.

Keywords: Urban Land Markets; Land Monopoly; Land Price; Spatial Panel Model; Colombia; Barranquilla

Suggested Citation

Garza, Nestor and Lizieri, Colin M., An Empirical Approach to Land Monopoly: The Case of Barranquilla, Colombia (January 1, 2015). University of Cambridge Real Estate Research Centre, Working Paper Series No. 2015-03, Available at SSRN: https://ssrn.com/abstract=2807024 or http://dx.doi.org/10.2139/ssrn.2807024

Nestor Garza (Contact Author)

California State University Dominguez Hills ( email )

1000 E. Victoria Street
Carson, CA 90747
United States
90747 (Fax)

HOME PAGE: http://https://www.csudh.edu/cbapp/contact-us/faculty/nestorgarza

Colin M. Lizieri

University of Cambridge - Department of Land Economy ( email )

19 Silver Street
Cambridge, CB3 9EP
United Kingdom

HOME PAGE: http://www.landecon.cam.ac.uk/staff/profiles/clizieri.htm

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
42
Abstract Views
389
PlumX Metrics