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Investment Strategies and Financial Tools for Local Development

image of Investment Strategies and Financial Tools for Local 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. This book 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. 

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Overview: Why Local Development Finance?

Financing local development is not simply a question of finding the public money required to invest in a local productive base, or wider economic development opportunities. How local development is financed plays a key part in defining what the goals of local development may be, and the extent to which the outcomes will be sustainable in both financial and economic terms. There are different kinds of local economic development, that involve different means of financing. One measure of success of local economic development will be how much external finance and investment is ultimately attracted, and the extent to which local markets become sustainable without continued public investment.

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