Every year, billions of dollars are spent on cleaning up urban water pollution worldwide. Nevertheless, it is unclear whether cleaner waterways can raise local property values or boost local businesses.
This presentation will explore recent research on the Black-and-Smelly Water Program in China as a natural experiment. First implemented in 2016, this program has cleaned up almost all the heavily polluted waterways in the 36 most developed cities in China. Through comparison of property values and neighbourhood revitalization factors, researchers can provide causal evidence of the value of cleaner waterways capitalized into real estate properties.
Yue Yu, Assistant Professor, Department of Management, University of Toronto Scarborough & Economic Analysis & Policy, Rotman School of Management