| Title |
Effect of University Closure on the Prices of Nearby Apartments -In the Case of Dong-Pusan College- |
| Authors |
김민규(Kim, Min Kyu) ; 김현수(Kim, Hyunsoo) ; 최열(Choi, Yeol) |
| DOI |
https://doi.org/10.12652/Ksce.2022.42.2.0273 |
| Keywords |
대학폐교; 주택시장; 근린환경; 지역경제; 이중차분법(DiD) University closure; Housing market; Neighborhood environment; Regional Economy; Difference-In-Difference (DiD) |
| Abstract |
In a recent decade, university closures have been a critical regional issue as a total of 17 universities have been closed while many more are facing closure in Korea. The local impact of university closures in the regions with declining populations has been far more detrimental and considered as one of the significant factors of the declining local economy, especially in the neighboring residential sectors. This study has taken an empirical approach to investigate the local impact of university closure on the housing market through a case of Dong-Pusan College in Busan, Korea. The study utilized Difference-in-Difference (DiD) to analyze the housing prices in
proximity to the university and identified several factors associated with the local decline in the housing market in relation to university closure. |