Description

An important change is upon us in terms of what is needed to finance local economic development. Global opportunities for cities and localities have led to a renewed impetus for new financial tools. Addressing how public assets can be better used to generate private co-investment (rather than just sold for a once only 'current value' price) is now the new mind-set, and thinking about the organisational vehicles needed at local and regional levels to promote financial innovation has moved on. As cities have to help nations respond to shifts in new global value chains, so renewed interest in supporting investment into cities is occurring. However, improving local and regional investment is not solely about increasing the supply of finance. It rests much more upon the quality of the propositions, the way their implementation is managed, and the returns they can offer to private and public investors. Investment Strategies and Financial Tools for Local Development provides a comprehensive overview of financial instruments and investment strategies being implemented throughout OECD Member and non-Member countries. It highlights effective tools, explores the roles and responsibilities of governments, public agencies and inter-governmental organisations. The lessons from this book are essential reading for policy makers, practitioners and all actors involved in delivering local development.