An Urban System Assessment of Land Value Capture : The Colombian Case

This paper assesses the static and dynamic neutrality of Land Value Capture (LVC) in the Colombian urban system 2003–2018, using spatially and non-spatially controlled panel models. LVC analyses are usually performed at the city or metropolitan area level, we contribute by performing the assessment on an urban system comprising 18 metropolitan areas. Our assessment builds upon a theoretical structure, where policies implemented in different metro areas generate capital shifts and land price adjustments through the spatial urban system. We find that the Colombian LVC has been statically neutral in the cities that implemented it. However, LVC has been dynamically non-neutral, due to the spatial adjustments of an urban system where most cities have not implemented it