Based on the spatial and land price data of innovation cities and their periphery areas in Korea, this study examines the degree and timing of changes in land price in relation to projects concerning innovation city. The study result confirms that the current system is inconsistent with the principle of restitution of development gain and therefore, this study attempts to seek improvement measures so that the current system can better fit the principle.

The analysis reveals that most innovation cities, excluding Sinseo- dong of Daegu and Ujeong-dong of Ulsan, recorded a statistically significant increase in land prices since 2005, compared to those of their neighboring areas. It can be said that the information related to projects concerning innovation city was reflected in the land price since 2005. However, the standard land price pursuant to Article 70 of the Land Compensation Act is the officially assessed land price released on 1st of January 2007, and this official land price was actually applied to the compensation process. Therefore, estimating the compensation amount for land expropriation based on this land price will contradict the principle of restitution of development gain. In other words, despite the fact that development-related information was already reflected in land prices of innovation cities from 2005 to the end of 2006, the compensation process were carried out without institutional arrangements or efforts to exclude such reflection.

To solve this problem, this study makes two suggestions. First, it is necessary to cast aside the limitations of the official land price that can be retroactively applied in accordance with Paragraph 5 of Article 70 of the Land Compensation Act, and instead apply the land price which is the most latest but deemed to have no reflection of development gains. Based on this revised standard land price, if the compensation amount is corrected by the average inflation rate and the average rate of increase in land price during the period until the time of the recognized land price, the amount would better satisfy the principle of restitution of development gain.

Second, it is necessary to clearly stipulate the standards of development gains being reflected on the land price by including it in the secondary legislation. Under the current system, it is highly likely that appraiser's arbitrary interpretation on development gains is included in the process of calculating the amount of compensation for land expropriation. In this regard, it is necessary to improve the standards on determining whether development gains are reflected based on the results of this academic research and the existing guidelines for appraisal of compensation for land expropriation published by the Korea Association of Property Appraisers.

요 약

제1장 서 론
　제1절 개발이익 배제원칙과 보상 갈등
　제2절 문제의 제기

제2장 선행연구 검토
　제1절 공공사업으로 인한 지가변동 관련 선행연구
　제2절 토지보상 관련 선행연구
　제3절 계량모형 관련 선행연구
　제4절 본 연구의 의의

제3장 혁신도시사업 개요
　제1절 혁신도시사업
　제2절 혁신도시사업 추진 현황

제4장 실증분석
　제1절 분석 모형
　　1. 이중차감추정법(DID)
　　2. 공간의존성을 고려한 추정방법
　제2절 데이터 개요
　　1. 자료 설명
　　2. 사용변수 설명 및 기초 통계량
　제3절 실증분석 결과
　　1. 이중차감추정법 추정 결과
　　2. 공간의존성을 고려한 추정 결과
　　3. 추정 결과 요약

제5장 정책적 함의 및 결론

참고문헌

부록

ABSTRACT