What is it about?
The European Commission introduced revolving financial instruments to promote sustainable urban investments. However, until now there is still no empirical prove available regarding the effectiveness and efficiency of this new instrument. Our analysis is the first one to assess the impact of this innovative EU-policy instrument in all 28 member states in monetary terms.
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Why is it important?
Based on our empirical analysis it is possible to give (evidence-based) recommendations for an expansion and improvement of this financial innovation in the current programming period (Europe2020) as part of the ongoing process of a reformed EU cohesion policy.
Perspectives
As a scholar, consultant and expert in the area of financial revolving instruments for more than a decade I think that this urban financial innovation has a great potential to support private investors and developers. However, the complexity requires to true interdiciplinary understanding by all relevant stakeholders to create long term public private partnerships in urban development.
Michael Nadler
Technische Universitat Dortmund
Read the Original
This page is a summary of: Promoting investment in sustainable urban development with JESSICA: Outcomes of a new EU policy initiative, Urban Studies, April 2017, SAGE Publications,
DOI: 10.1177/0042098017702815.
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