Municipal Finance of Urban Infrastructure: Knowns and Unknowns
AbstractVarious trends, including an increasing emphasis on fiscal decentralization; political democratization in many areas; globalization and the financial liberalization that often accompanies it; growing demands for urban services as urbanization continues in major cities around the world; all argue compellingly for finding ways to help municipalities finance large scale infrastructure. Improved urban infrastructure, for water supply, sanitation, urban transportation and solid waste management is widely believed essential in encouraging and facilitating economic growth. Evidence indicates that those countries most successful in sustaining high growth supported their cities with transformative investments to improve urban infrastructure that could accommodate rapid population growth in major economic centers. This evidence suggests that infrastructure has a strong â€œsupplysideâ€ orientation and in practice, it is the effects of infrastructure on â€œsupplyâ€ that are most often emphasized. There is also a strong â€œdemand-sideâ€ aspect: individuals and businesses value the services that flow from the stock of infrastructure facilities and these demands should be (but are often not) considered in determining the appropriate level of infrastructure investment. In addition to the potential supply-and-demand-side impacts on economic growth, the services of infrastructure also play a significant role in the distribution of income.[Working paper No. 19]
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political democratization; liberalization; urbanization; economic growth; income;
Other versions of this item:
- James Alm, 2011. "Municipal Finance of Urban Infrastructure: Knowns and Unknowns," Working Papers, Tulane University, Department of Economics 1103, Tulane University, Department of Economics.
- NEP-ALL-2010-06-26 (All new papers)
- NEP-GEO-2010-06-26 (Economic Geography)
- NEP-URE-2010-06-26 (Urban & Real Estate Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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International Center for Public Policy Working Paper Series, at AYSPS, GSU, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University
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