2017, Vol.92, No.

The Korea Spatial Planning Review 2023 KCI Impact Factor : 1.2

pISSN : 1229-8638
https://journal.kci.go.kr/krihs

Both the wealth effect and common-factor hypotheses have long been in conflict to explain the effects of housing prices on consumption. This research is to examine the hypotheses and determine which may be more suitable in South Korea after the worldwide financial crisis occurred in 2008. The analysis found that, first, the effect of the rise in housing prices on household consumption has not been statistically significant since 2009. Second, household debt itself had a positive and statistically significant effect on inducing consumption, but changes in housing prices did not have such a significant effect on the consumption of households in debt. Third, there was no uniform pattern in the effect of changes in housing prices on the consumption of households owning more than one house. Fourth, no statistical significance was found for the effects of changes in housing prices on household consumption by income class. Contrary to the previous literature, the common-factor hypothesis was found to be adequate for South Korea after the financial crisis. Various policies implemented so far in anticipation of the household wealth effect may have only resulted in social cost without any benefits of increase in consumption. Therefore, policies to boost the economy by stimulating the housing market should be considered with caution.

The purpose of this study is to examine the relations between various citizens' value recognition through historical- cultural contents' use and the building and working variables of functional communities. This study establishes 3 hypotheses in the large and employs factor analysis, regression analysis, and variance analysis. The analysis results are as follows: value recognition factors are largely classified into individual value, group value, and public value factors; the building and working factors of functional communities are grasped as meeting, interacting, talking, understanding, or empathizing factors; the value recognition differently shows positive impacts on the building and working processes of functional communities; in addition, the differences in the importance of MIT&UE variables were almost all identified by the stages of historical-cultural contents' use. In consequence, this research suggests the necessities to consider various citizens' value recognition, to identify the impact factors differentiated by policy objectives, and to try policy approaches differentiated by the stages of historical-cultural contents' use.

When travelling, the level of the road area and facility condition is different by region. In general, road ratio is the index to show how much the area of roads in the subject place and roughly measure the level of road service. The concept of road ratio can be differently defined by the purpose of the use, but it has been simply calculated by the ratio between the area and the road length of the administrative district. Therefore the capability of the road throughput and quality service elements were not fully considered, which is highly linked to the road rank, the number of lanes, and the accessibility to freeways. In order to tackle the limitation of the current road ratio index, this study developed the methodology for estimating road service index which consisted of two elements; 1) inner regional accessibility index and 2) inter regional accessibility index. The proposed methodology were greatly improved in that those indexes could capture the seamlessness and mobility of the road trips. With the proposed indexes, the subject area of the case study was the Chungcheongnam-do in South Korea. By doing so, the expert survey was conducted to the regional specialists for the Chungcheongnam-do who were taking charge of regional development, policies and public investment projects. As a result, there were the huge difference between the existing road ratio and the proposed index.For example, the cities with the high road ratio in Chungcheongnam-do show that the quality of the road service is relatively low because of high traffic volume. In other words, although the infrastructure is well constructed, the service index is sometimes underestimated. In the goodness of fitness, the congestion map is much more accuracy than the service index with the road ratio and is more understandable than the current methodology to describe the level of road service. Therefore, the proposed methodology is noteworthy in that both factors with the low penetration rate for the road infrastructure and the low service quality of the road throughput. In addition, the under-developedness index with this proposed index is most likely to assisting the reasonable judgement when applying to the Analytic Hierarchy Process.