Financing Green Urban Infrastructure
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2020 Lectures on Urban Economics
2020 Lectures on Urban Economics Lecture 5: Cities in Developing Countries J. Vernon Henderson (LSE) 9 July 2020 Outline of talk • Urbanization: Moving to cities • Where are the frontiers of urbanization • Does the classic framework apply? • “Spatial equilibrium” in developing countries • Issues and patterns • Structural modelling • Data needed • Relevant questions and revisions to baseline models • Within cities • Building the city: investment in durable capital • Role of slums • Land and housing market issues Frontiers of urbanization • Not Latin America and not much of East and West Asia • (Almost) fully urbanized (60-80%) with annual rate of growth in urban share growth typically about 0.25% • Focus is on clean-up of past problems or on distortions in markets • Sub-Saharan Africa and South and South-East Asia • Urban share 35-50% and annual growth rate in that share of 1.2- 1.4% • Africa urbanizing at comparatively low-income levels compared to other regions today or in the past (Bryan at al, 2019) • Lack of institutions and lack of money for infrastructure “needs” Urbanizing while poor Lagos slums, today Sewers 1% coverage London slums, 120 years ago Sewer system: 1865 Models of urbanization • Classic dual sector • Urban = manufacturing; rural = agriculture • Structural transformation • Closed economy: • Productivity in agriculture up, relative to limited demand for food. • Urban sector with productivity growth in manufacturing draws in people • Open economy. • “Asian tigers”. External demand for manufacturing (can import food in theory) • FDI and productivity growth/transfer Moving to cities: bright lights or productivity? Lack of structural transformation • Most of Africa never really has had more than local non-traded manufactures. -
Keeping the Government Whole: the Impact of a Cap-And-Dividend
RESEARCH INSTITUTE POLITICAL ECONOMY Keeping the Government Whole: The Impact of a Cap-and-Dividend Policy for Curbing Global Warming on Government Revenue and Expenditure James K. Boyce & Matthew Riddle November 2008 Gordon Hall 418 North Pleasant Street Amherst, MA 01002 Phone: 413.545.6355 Fax: 413.577.0261 [email protected] www.peri.umass.edu WORKINGPAPER SERIES Number 188 KEEPING THE GOVERNMEGOVERNMENTNT WHOLE: The Impact of a CapCap----andandand----DividendDividend Policy for Curbing Global Warming on Government Revenue and Expenditure James K. Boyce & Matthew Riddle Political Economy Research Institute University of Massachusetts, Amherst November 2008 ABSTRACT When the United States puts a cap on carbon sure that additional revenues to government emissions as part of the effort to address the compensate adequately for the additional costs problem of global climate change, this will in- to government as a result of the carbon cap. We crease the prices of fossil fuels, significantly compare the distributional impacts of two policy impacting not only consumers but also local, alternatives: (i) setting aside a portion of the state, and federal governments. Consumers can revenue from carbon permit auctions for gov- be “made whole,” in the sense that whatever ernment, and distributing the remainder of the amount the public pays in higher fuel prices is revenue to the public in the form of tax-free recycled to the public, by means of a cap-and- dividends; or (ii) distributing all of the carbon dividend policy: individual households will come revenue to households as taxable dividends. out ahead or behind in monetary terms depend- The policy of recycling 100% of carbon revenue ing on whether they consume above-average or to the public as taxable dividends has the below-average amounts of carbon. -
544 Urban Growth
544 urban growth changes in spatially delineated public goods. the physical structure of cities and how it may change as International Economic Review 45, 1047-77. cities grow. It also focuses on how changes in commuting Tolley, G. 1974. The welfare economics of city bigness. costs, as well as the industrial composition of national Journal of Urban Economics 1, 324-45. output and other technological changes, have affected the United Nations Population Division. 2004. World Population growth of cities. Another direction has focused on Prospects: The 2004 Revision Population Database. Online. understanding the evolution of systems of cities - that Available at http://esa.un.orglunpp, accessed 28 June is, how cities of different sizes interact, accommodate and 2005. share different functions as the economy develops and what the properties of the size distribution of urban areas are for economies at different stages of development. Do the properties of the system of cities and of city size urban growth distribution persist while national population is growing? Urban growth - the growth and decline of urban Finally, there is a literature that studies the link between areas - as an economic phenomenon is inextricably urban growth and economic growth. What restrictions linked with the process of urbanization. Urbanization does urban growth impose on economic growth? What itself has punctuated economic development. The spatial economic functions are allocated to cities of different distribution of economic activity, measured in terms of sizes in a growing economy? Of course, all of these lines population, output and income, is concentrated. The of inquiry are closely related and none of them may be patterns of such concentrations and their relationship fully understood, theoretically and empirically, on its to measured economic and demographic variables con own. -
Well Isnjt That Spatial?! Handbook of Regional and Urban Economics
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Research Papers in Economics Well Isn’tThat Spatial?! Handbook of Regional and Urban Economics: A View From Economic Theory Marcus Berlianty February 2005 I thank Gilles Duranton, Sukkoo Kim, Fan-chin Kung and Ping Wang for comments, implicating them only for baiting me. yDepartment of Economics, Washington University, Campus Box 1208, 1 Brookings Drive, St. Louis, MO 63130-4899 USA. Phone: (314) 935-8486, Fax: (314) 935-4156, e-mail: [email protected] 1 As a younger and more naïve reviewer of the …rst volume of the Handbook (along with Thijs ten Raa, 1994) more than a decade ago, it is natural to begin with a comparison for the purpose of evaluating the progress or lack thereof in the discipline.1 Then I will discuss some drawbacks of the New Economic Geography, and …nally explain where I think we should be heading. It is my intent here to be provocative2, rather than to review speci…c chapters of the Handbook. First, volume 4 cites Masahisa Fujita more than the one time he was cited in volume 1. Volume 4 cites Ed Glaeser more than the 4 times he was cited in volume 3. This is clear progress. Second, since the …rst volume, much attention has been paid by economists to the simple question: “Why are there cities?” The invention of the New Economic Geography represents an important and creative attempt to answer this question, though it is not the unique set of models capable of addressing it. -
810 South Sterling Ave. Tampa, FL 33609 [email protected]
810 South Sterling Ave. Tampa, FL 33609 813.289.88L.L, [email protected] - RBANECONOMICS.COM ECONOMICS INC. MICHAEL A. MCELVEEN, MAI, CCIM, CRE President Urban Economics, Inc. 810 South Sterling Avenue Tampa, FL 33609-4516 Urban Economics, Inc. - Tampa, Florida - Michael A. McElveen is president of Urban Economics, Incorporat ed, a real estate consultancy providing econometrics, valuation, spat ia l analytics, economic impact and st igma effect advice and opinions for 31 years. The focus of Michael A. McElveen has been expert witness t estimony, having testified numerous times at either a jury trial , hearing or by deposition. Mr. McElveen has been accepted by the Ninth Jud icial Circuit Court of Florida an d the Thirteenth Judicial Circuit Court as an expert in the use of econometrics in real estate. Mr. McElveen has performed the following econometric studies: • Econometric study of the marginal impact of an additional 18-hole golf course and equestrian facility o n the value of residential lots, Lake County, FL; • Sales price index trend of fractured condominium sales in O sceola County; • Econometric study of the rent effect of deficient parking at neighborhood retail centers, Charlotte County, FL; • Economet ric study of the sales price effect of location and community w aterfront in Martin County, FL; and • Hedonic regression model analysis of the sales price effect vehicul ar traffic volume and roadway elevation on nearby ho mes in Duval County, Florida. Ed uca ti o n Bachelo r of Arts Finance, University of South Bachelor of Science, Florida State University Florida Professional Associations Appraisal Institute (MAI), Certificate No. -
Healthy Benefits of Green Infrastructure in Communities
Healthy Benefits of Green Infrastructure in Communities What is Green Infrastructure? to the natural environment, reduces discharges associated with exposure to harmful substances pollutant loading, flooding, When rain falls on our roofs, and conditions, provides combined sewer overflow (CSO) streets, and parking lots, the water opportunity for recreation and events, and erosion. cannot soak into the ground as it physical activity, improves safety, should. If not managed well, it can Reducing these stormwater-related promotes community identity and a lead to flooding, sewer overflows, impacts also reduces a person’s sense of well-being, and provides and water pollution. Unlike exposure to water pollution and economic benefits at both the conventional gray infrastructure, flooding-related health hazards and community and household level. which uses pipes, storm drains, their associated health outcomes, and treatment facilities to manage These benefits are all known to such as waterborne illness, stormwater, green infrastructure directly or indirectly benefit public respiratory disease and asthma uses vegetation, soils, and other health. The degree to which the associated with mold and bacteria, natural landscape features to environmental, social, economic, vector-borne disease, stress, manage wet weather impacts, and public health benefits of green injury, and death. Trees, bushes, reduce and treat stormwater at its infrastructure are realized is and greenery have the ability to source, and create sustainable and dependent on a number of factors, absorb air pollutants and trap healthy communities. including the design, installation, airborne particulates on their and maintenance of the green leaves, reduce surface and air Green infrastructure can include infrastructure features. temperatures through shading and features such as rain gardens, evapotranspiration, and provide a bioswales, planter boxes and physical barrier to traffic and street planting strips, urban tree The City of Philadelphia Triple [5] noise pollution. -
Environmental Taxes and the Double-Dividend Hypothesis: Did You Really Expect Something for Nothing?
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Research Papers in Economics Environmental Taxes and the Double-Dividend Hypothesis: Did You Really Expect Something for Nothing? by Don Fullerton Department of Economics University of Texas Austin, TX 78712-1173 and NBER [email protected] and Gilbert E. Metcalf Department of Economics Tufts University Medford, MA 02155 and NBER [email protected] August 1997 This paper was prepared for a "Symposium on Second-Best Theory" to appear in the Chicago- Kent Law Review. We are grateful for helpful comments and suggestions from Charles Ballard, Larry Goulder, Ian Parry and Kerry Smith. The first author is grateful for financial support from a grant of the Environmental Protection Agency (EPA R824740-01-0), and the second author is grateful for financial support from a grant of the National Science Foundation to the National Bureau of Economic Research (NSF SBR-9514989). This paper is part of NBER's research program in Public Economics. Any opinions expressed are those of the authors and not those of the EPA, the NSF, or the National Bureau of Economic Research. Environmental Taxes and the Double-Dividend Hypothesis: Did You Really Expect Something for Nothing? ABSTRACT The "double-dividend hypothesis" suggests that increased taxes on polluting activities can provide two kinds of benefits. The first dividend is an improvement in the environment, and the second dividend is an improvement in economic efficiency from the use of environmental tax revenues to reduce other taxes such as income taxes that distort labor supply and saving decisions. -
CURRICULUM VITAE Ping Wang
December 2020 CURRICULUM VITAE Ping Wang ADDRESS: Department of Economics, Washington University in St. Louis, One Brookings Drive, Campus Box 1208, St. Louis, MO 63130, U.S.A. (Phone) 314-935-5632; (Fax) 314-935-4156; (E-mail) [email protected]; (Web) https://sites.wustl.edu/pingwang/ EDUCATION: 1979-June B.S., Ocean Transportation, National Chiao Tung University, Taiwan 1981-July M.A., Economics, National Chengchi University, Taiwan 1986-May M.A., Economics, University of Rochester, NY, U.S.A. 1987-May Ph.D., Economics, University of Rochester, NY, U.S.A. EXPERIENCE: Primary-Academic: 1981-1982 Assistant Research Fellow, Center for the Quality of Life, TAIWAN 1981-1983 Economic Researcher, Council for Economic Planning and Development, Taiwan 1986 Instructor, Department of Economics, University of Rochester 1987-1994 Assistant Professor, Department of Economics, Penn State University 1994-1998 Associate Professor, Department of Economics, Penn State University 1994-1998 Fellow, Center for Criminology and Public Policy 1999-2005 Professor, Department of Economics, Vanderbilt University 2001-2005 Senior Fellow, Vanderbilt Institute for Public Policy Studies 2001-present Research Associate, National Bureau of Economic Research 2005-present Seigle Family Distinguished Professor, Washington University in St. Louis 2013-present Senior Research Fellow, Federal Reserve Bank of St. Louis 2015-present Senior Fellow, Asian Bureau of Finance and Economic Research Primary-Administrative: 2002-2005 Chair, Department of Economics, Vanderbilt University -
Place-Based Policies
CHAPTER 18 Place-Based Policies David Neumark*, Helen Simpson† *UCI, NBER, and IZA, Irvine, CA, USA †University of Bristol, CMPO, OUCBT and CEPR, Bristol, UK Contents 18.1. Introduction 1198 18.2. Theoretical Basis for Place-Based Policies 1206 18.2.1 Agglomeration economies 1206 18.2.2 Knowledge spillovers and the knowledge economy 1208 18.2.3 Industry localization 1209 18.2.4 Spatial mismatch 1210 18.2.5 Network effects 1211 18.2.6 Equity motivations for place-based policies 1212 18.2.7 Summary and implications for empirical analysis 1213 18.3. Evidence on Theoretical Motivations and Behavioral Hypotheses Underlying Place-Based Policies 1215 18.3.1 Evidence on agglomeration economies 1215 18.3.2 Is there spatial mismatch? 1217 18.3.3 Are there important network effects in urban labor markets? 1219 18.4. Identifying the Effects of Place-Based Policies 1221 18.4.1 Measuring local areas where policies are implemented and economic outcomes in those areas 1222 18.4.2 Accounting for selective geographic targeting of policies 1222 18.4.3 Identifying the effects of specific policies when areas are subject to multiple interventions 1225 18.4.4 Accounting for displacement effects 1225 18.4.5 Studying the effects of discretionary policies targeting specific firms 1226 18.4.6 Relative versus absolute effects 1229 18.5. Evidence on Impacts of Policy Interventions 1230 18.5.1 Enterprise zones 1230 18.5.1.1 The California enterprise zone program 1230 18.5.1.2 Other recent evidence for US state-level and federal programs 1237 18.5.1.3 Evidence from other countries 1246 18.5.1.4 Summary of evidence on enterprise zones 1249 18.5.2 Place-based policies that account for network effects 1250 18.5.3 Discretionary grant-based policies 1252 18.5.3.1 Summary of evidence on discretionary grants 1259 18.5.4 Clusters and universities 1261 18.5.4.1 Clusters policies 1261 18.5.4.2 Universities 1264 18.5.4.3 Summary of evidence on clusters and universities 1267 Handbook of Regional and Urban Economics,Volume5B © 2015 Elsevier B.V. -
Seigniorage and Fixed Exchange Rates: an Optimal Inflation Tax Analysis
NBER WORKING PAPER SERIES SEIGNIORAGEANDFIXED EXCHANGERATES: ANOPTIMALINFLATION TAX ANALYSIS Stanley Fischer Working Paper No. 783 NATIONALBUREAUOF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge MA 02138 October 1981 The research reported here is part of the NBER's research program in Economic Fluctuations and International Studies. Any opinions expressed are those of the author and not those of the National Bureau of Economic Research. NBER Working Paper #783 October 1981 Seigniorage and Fixed Exchange Rates: An Optimal Inflation Tax Analysis ABSTRACT A country that decides to fix its exchange rate thereby gives up control over its own inflation rate and the determination of the revenue received from seigniorage. If the country goes further and uses a foreign money, it loses all seigniorage. This paper uses an optimal inflation tax approach to analyze the consequences for optimal rates of income taxation and welfare of the alternative exchange rate and monetary arrangements. From the viewpoint of seigniorage, a system in which the country is free to determine its own rates of inflation is optimal; fixed exchange rates are second best, and the use of a foreign money is worse. The paper notes that seigniorageis only one of the factors determining the choice of op- timalexchange rate regime, but also points out that rates of seigniorage collection are high, typically accounting for five or more percent of government revenue. StanleyFischer Hoover Institution Stanford University Stanford, CA 94305 (415)497—9175 Fischer September 1981 Seigniorage and Fixed Exchange Rates: An Optimal Inflation Tax Analysis Stanley Fischer* In choosing fixed over flexible exchange rates, a country gives up the right to determine its own rate of inflation, and thus the amount of revenue collected by the inflation tax. -
Private Enterprises As Major Source of Government Revenue
A change of perspective Private enterprises as major source of government revenue How the private sector delivers on SDG 17 This report is a result of DEG’s evaluation work regarding development effectiveness. DEG's monitoring and evaluating team checks at regular intervals whether the transactions it co-finances help to achieve sustainable development successes and points to ways of making further improvements for DEG and its customers. To ensure the independence of evaluation results, external consultants regularly support the work of the team. This study was prepared by DEG: Dr. Clemens Domnick, Dr. Julian Frede, Leoni Kaup, Mirjam Radzat. June 2020 Title picture produced by DEG based on open source data by WorldDataBank DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH Kämmergasse 22 50676 Cologne Phone 0221 4986-0 Fax 0221 4986-1290 [email protected] www.deginvest.de A change of perspective 1 Executive Summary Sustainable Development Goal 17 (SDG) states that governments and their budgets play a crucial role in reaching the global SDG targets and to boost human development. When discussing government revenue and revenue creation, the role of the private sector is often underestimated. In this context, most discussions focus exclusively on the role of corporate income tax – a tax that is levied on a company’s profits – and often include the negative impact of tax optimizing structures on government revenues in Emerging Markets. While this discussion is important, there exist various other linkages between the private sector and government revenues that are rarely taken into account. This paper discusses how private sector contributes through different linkages to govern- ment revenue. -
A Practical Guide to Implementing Integrated Water Resources Management and the Role for Green Infrastructure”, J
A Practical Guide to Implementing Integrated Water Resources Management & the Role of Green Infrastructure Prepared for: Prepared for: Funded by: Prepared by: May 2016 ACKNOWLEDGEMENTS Environmental Consulting & Technology, Inc. (ECT), wishes to extend our sincere appreciation to the individuals whose work and contributions made this project possible. First of all, thanks are due to the Great Lakes Protection Fund for funding this project. At Great Lakes Commission, thanks are due to John Jackson for project oversight and valuable guidance, and to Victoria Pebbles for administrative guidance. At ECT, thanks are due to Sanjiv Sinha, Ph.D., for numerous suggestions that helped improve this report. Many other experts also contributed their time, efforts, and talent toward the preparation of this report. The project team acknowledges the contributions of each of the following, and thanks them for their efforts: Bill Christiansen, Alliance for Water Efficiency James Etienne, Grand River Conservation Christine Zimmer, Credit Valley Conservation Authority Authority Cassie Corrigan, Credit Valley Conservation Melissa Soline, Great Lakes & St. Lawrence Authority Cities Initiative Wayne Galliher, City of Guelph Clifford Maynes, Green Communities Canada Steve Gombos, Region of Waterloo Connie Sims – Office of Oakland County Water Julia Parzens, Urban Sustainability Directors Resources Commissioner Network Dendra Best, Wastewater Education For purposes of citation of this report, please use the following: “A Practical Guide to Implementing