Economic Cycles and Urban Growth with Land Value and Land Rent

  • Wei-Bin Zhang Ritsumeikan Asia-Pacific University


The purpose of this study is to examine the existence of business fluctuations in an urban growth model of endogenous wealth and land value with residential distribution over a linear city by Zhang (2017). Zhang synthesised the Solow growth model and the Alonso model. This paper generalises Zhang’s model by allowing all the timeindependent parameters to be time-dependent. It examines the relationship between growth, urban structure and land value with different time-dependent exogenous shocks. We simulate the model to demonstrate the existence of equilibrium points, motion of the dynamic system, and oscillations due to different exogenous shocks. The paper makes a unique contribution to the literature of spatial economic growth by identifying cycles in a spatial growth model built on microeconomic foundation.


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Author Biography

Wei-Bin Zhang, Ritsumeikan Asia-Pacific University

College of International Management

How to Cite
ZHANG, Wei-Bin. Economic Cycles and Urban Growth with Land Value and Land Rent. Malaysian Journal of Economic Studies, [S.l.], v. 56, n. 2, p. 267-277, dec. 2019. ISSN 1511-4554. Available at: <>. Date accessed: 14 aug. 2020. doi: