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The local economic impacts of regeneration projects: Evidence from UK's single regeneration budget

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  • Gibbons, Stephen
  • Overman, Henry
  • Sarvimäki, Matti

Abstract

Many governments aim to improve the labour market outcomes of people living in deprived areas through "place-making" initiatives. Economists are often sceptical about the effectiveness of such policies, but empirical evidence on their impacts remains limited. We examine the impact of building subsidised business floor space in deprived neighbourhoods in the UK. Our estimates suggest that while the £8.2bn investment into these projects increased the number of jobs located in the targeted neighbourhoods, it did little to improve the employment of local residents.

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  • Gibbons, Stephen & Overman, Henry & Sarvimäki, Matti, 2021. "The local economic impacts of regeneration projects: Evidence from UK's single regeneration budget," Journal of Urban Economics, Elsevier, vol. 122(C).
  • Handle: RePEc:eee:juecon:v:122:y:2021:i:c:s0094119020300863
    DOI: 10.1016/j.jue.2020.103315
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    2. Juanfeng Zhang & Danxia Zhang & Lele Li & Hui Zeng, 2020. "Regional impact and spillover effect of public infrastructure investment: An empirical study in the Yangtze River Delta, China," Growth and Change, Wiley Blackwell, vol. 51(4), pages 1749-1765, December.

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    More about this item

    Keywords

    Single regeneration budget; Regeneration; Employment; Neighbourhoods; Urban policy;
    All these keywords.

    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • J08 - Labor and Demographic Economics - - General - - - Labor Economics Policies
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General

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