Evaluation of regional policies in town centre areas in Japan

This paper examines the value assessment system on town revitalisation policies in rural areas in Japan. The paper is comprised of five sections: firstly, we briefly review previous literatures with a special reference to policy impact. Secondly, this paper looks at the evaluation system of policies, dividing assessed value into three categories, such as value calculated by DCF (discount cash flow) method, value consist of capital gains and qualitative values. Thirdly, we present empirical methodology such as ordered logit techniques and questionnaire data information. Fourthly, we discuss empirical results and develop index. Finally, the summary and conclusions are given. Our results suggest that the policy such as ' sales of special local goods in the rural area' has gained the highest point in our index framework. Policy such as providing infrastructure such as maintenance of commercial building with city produces the lowest mark in our index.