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Anything new in town? The local effects of Urban Regeneration Policies in Italy

Author

Listed:
  • Giuseppe Albanese

    () (Bank of Italy)

  • Emanuele Ciani

    () (Bank of Italy)

  • Guido de Blasio

    () (Bank of Italy)

Abstract

The paper estimates the local effects of urban regeneration policies by using evidence from interventions that took place in small and medium-sized cities in the Centre and North of Italy over the period 2008-12. By using an Oaxaca-Blinder reweighting estimator, we find little support for the idea that urban regeneration projects could stimulate local economic growth in the short to medium term. Only the largest scale interventions that focused on improving the public realm seem to have led to an increase in house prices, but they have had no impact on other economic outcomes.

Suggested Citation

  • Giuseppe Albanese & Emanuele Ciani & Guido de Blasio, 2019. "Anything new in town? The local effects of Urban Regeneration Policies in Italy," Temi di discussione (Economic working papers) 1214, Bank of Italy, Economic Research and International Relations Area.
  • Handle: RePEc:bdi:wptemi:td_1214_19
    as

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    File URL: http://www.bancaditalia.it/pubblicazioni/temi-discussione/2019/2019-1214/en_tema_1214.pdf
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    urban regeneration; house prices; reweighting;

    JEL classification:

    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure

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