Anything New in Town? The Local Effects of Urban Regeneration Policies in Italy
42 Pages Posted: 6 Aug 2019
Date Written: April 29, 2019
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.
Keywords: urban regeneration, house prices, reweighting
JEL Classification: R58, R11, O18
Suggested Citation: Suggested Citation