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@article{ART001302272},
author={Park,Yoo-Young and Sungkyu Park},
title={A Economic Analysis on the Land Use Regulation and Compensation},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2008},
volume={18},
number={2},
pages={145-167}

TY - JOUR
AU - Park,Yoo-Young
AU - Sungkyu Park
TI - A Economic Analysis on the Land Use Regulation and Compensation
JO - Korea Real Estate Review
PY - 2008
VL - 18
IS - 2
PB - korea real estate research institute
SP - 145
EP - 167
SN - 2092-5395
AB - Since the Constitutional Court ruled that the excessive governmental regulation of land-use runs counter to the Constitution, the legal limit of restriction for the public interest has been actively discussed in the field of law. The primary issue of those discussions is whether the landowner's economic loss caused by the regulations of government should be compensated. With regard to the government's regulation and the private property right protection, the fundamental viewpoint of the field of the law is focussed on the fairness, based on the principle of "just compensation" (the Constitution 23.3) and the principle of "excess prohibition" (the Constitution 37.2). In spite of those discussions in the field of law, however, the rational yardstick of the compensation for the loss caused by the governmental regulation has not yet been proposed. Thus, this article analyzes the compensation for the economic loss caused by the governmental regulation in terms of "efficiency", from the viewpoint of and law and economics. It seems quite logical that the incentive system of government and the land owner changes in accordance with the compensation rule chosen by the court and then it affects on the economic efficiency―the efficient allocation of resource. By showing that compensation system, which can achieve fairness and efficiency at the same time, is theoretically possible, this article proposes the probability of resolution for the contradiction problem―fairness Vs. efficiency―which has been argued by some economists.
KW - Land Use Regulation;Just Compensation;Regulatory Takings
DO -
UR -
ER -

Park,Yoo-Young and Sungkyu Park. (2008). A Economic Analysis on the Land Use Regulation and Compensation. Korea Real Estate Review, 18(2), 145-167.

Park,Yoo-Young and Sungkyu Park. 2008, "A Economic Analysis on the Land Use Regulation and Compensation", Korea Real Estate Review, vol.18, no.2 pp.145-167.

Park,Yoo-Young, Sungkyu Park "A Economic Analysis on the Land Use Regulation and Compensation" Korea Real Estate Review 18.2 pp.145-167 (2008) : 145.

Park,Yoo-Young, Sungkyu Park. A Economic Analysis on the Land Use Regulation and Compensation. 2008; 18(2), 145-167.

Park,Yoo-Young and Sungkyu Park. "A Economic Analysis on the Land Use Regulation and Compensation" Korea Real Estate Review 18, no.2 (2008) : 145-167.

Park,Yoo-Young; Sungkyu Park. A Economic Analysis on the Land Use Regulation and Compensation. Korea Real Estate Review, 18(2), 145-167.

Park,Yoo-Young; Sungkyu Park. A Economic Analysis on the Land Use Regulation and Compensation. Korea Real Estate Review. 2008; 18(2) 145-167.

Park,Yoo-Young, Sungkyu Park. A Economic Analysis on the Land Use Regulation and Compensation. 2008; 18(2), 145-167.

Park,Yoo-Young and Sungkyu Park. "A Economic Analysis on the Land Use Regulation and Compensation" Korea Real Estate Review 18, no.2 (2008) : 145-167.