I'm not a runner, only cause I can't yet... heh, but I think they are both good for weight loss as far as I've read. The key is to keep your heart rate elevated in a good zone either way.
You will burn more calories in a short time period with running though so if you have a good fitness base you might look at running or a couch to 5k program. If walking very briskly is enough to get your heart rate up start from there you'll be getting your cardio geared up for running.
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