Spatio-temporal diffusion of residential land prices across Taipei regions

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Table 7 Dynamic Spatial Durbin Models

	All Taipei (41 areas)	All Taipei (41 areas)	Core Taipei City	Core Taipei City including Satellite City	East and West Peripheral regions
	(1)	(2)	(3)	(4)	(5)
Spatial regressor W*Land Price	0.285***	0.188***	-0.471***	0.021	0.133**
Spatial regressor W*Land Price	(5.948)	(3.728)	(-5.268)	(0.301)	(2.247)
Space-time regressor: W*Land Price(lag1)	-0.178***	-0.066	0.384***	-0.068	-0.035
Space-time regressor: W*Land Price(lag1)	(-3.314)	(-1.155)	(3.791)	(-0.839)	(-0.503)
Land Price(lag1)	0.795***	0.800***	0.703***	0.735***	0.827***
Land Price(lag1)	(37.831)	(38.706)	(15.023)	(23.344)	(26.769)
Per Capita Income	0.125**	0.140**	0.236**	0.032	0.208**
Per Capita Income	(2.248)	(2.63)	(2.063)	(0.365)	(2.489)
Population Density	0.084	0.091*	0.079	0.069	0.057
Population Density	(1.576)	(1.747)	(1.098)	(0.933)	(0.631)
W*Per Capita Income	-0.123**	0.114	-0.182	-0.302	0.052
W*Per Capita Income	(-1.964)	(1.125)	(-0.602)	(-1.638)	(0.441)
W*Population Density	-0.159**	-0.113	0.047	-0.241	-0.058
W*Population Density	(-2.131)	(-1.334)	(0.311)	(-1.413)	(-0.483)
Model Description	Spatial Fixed Effects	Spatial & Time Fixed Effects	Spatial & Time Fixed Effects	Spatial & Time Fixed Effects	Spatial & Time Fixed Effects
N	738	738	216	414	324
σ²	0.0056	0.0054	0.0017	0.0038	0.0071

Note: All variables are specified in log. t statistic is reported within the parentheses. ‘***’, ‘**’, and ‘*’ denote 1 percent, 5 percent and 10 percent significance levels.