Unlocking Land Values to Finance Urban Infrastructure
Urban growth throughout the developing world has created a challenge for financing infrastructure. Investment in infrastructure is needed to provide basic services for newly developed parts of urban areas. It is needed to meet the demand for a safe...
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| Format: | Publication |
| Language: | English en_US |
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Washington, DC : World Bank
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2008/10/9949773/unlocking-land-values-finance-urban-infrastructure http://hdl.handle.net/10986/6552 |
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okr-10986-6552 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
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English en_US |
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ACCESS ROADS ACCOUNTABILITY ACCOUNTING ACQUISITION OF RIGHT-OF-WAY ADMINISTRATIVE COSTS AIRPORT AIRPORT CONSTRUCTION AIRPORTS ASSET MANAGEMENT ASSET SALES ASSETS AUCTIONS BALANCE SHEET BETTERMENT LEVIES BRIDGE BUDGET SURPLUS BUS BUS STATION CAPACITY FOR ROADS CAPITAL BUDGETING CAPITAL BUDGETS CAPITAL COSTS CAPITAL GRANTS CAPITAL INVESTMENT CAPITAL PROJECTS CAPITALIZATION CITIES COLLATERAL COMMERCIAL BANKS COMMUNITY DEVELOPMENT CONGESTION CONGESTION COSTS COST OF CAPITAL DEBT FINANCING DEBT SERVICE DECENTRALIZATION DEVELOPMENT CHARGES DRAINAGE ECONOMIC CONDITIONS EFFICIENCY OF INFRASTRUCTURE ELECTRICITY EXPRESSWAYS FARES FINANCE INFRASTRUCTURE FINANCING OF INFRASTRUCTURE FINANCING SOURCES FISCAL MANAGEMENT FISCAL RESPONSIBILITY FLOOR SPACE FREE TRANSFER GOVERNMENT DEBT GOVERNMENT FRAGMENTATION HIGHWAY HIGHWAY ACCESS HIGHWAY CONSTRUCTION HIGHWAY PROJECTS HIGHWAYS HOUSING INCOME INFRASTRUCTURE CAPACITY INFRASTRUCTURE COST INFRASTRUCTURE COSTS INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE FINANCE INFRASTRUCTURE FINANCING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE PROJECTS INTERGOVERNMENTAL FINANCE INTERNATIONAL AIRPORT INTERNATIONAL AIRPORTS INVENTORY INVESTMENT IN ROADS LAND DEVELOPMENT LAND PRICES LAND TAKE LAND USE LAND VALUE LAWS LICENSES LIGHT RAIL LOCAL BUDGETS LOCAL GOVERNMENT LOCAL GOVERNMENT REVENUE LOCAL GOVERNMENTS MARKET VALUE MASS TRANSIT METRO RAIL METROPOLITAN AREAS MINISTRY OF TRANSPORTATION MOBILITY MUNICIPAL MUNICIPAL BONDS MUNICIPAL DEBT MUNICIPAL FINANCE MUNICIPAL GOVERNMENT MUNICIPAL GOVERNMENTS MUNICIPAL INFRASTRUCTURE MUNICIPAL SERVICES MUNICIPALITIES MUNICIPALITY NATIONAL GOVERNMENTS NEIGHBORHOODS OPEN AUCTIONS OPERATING COSTS PASSENGERS POPULATION GROWTH PORT AUTHORITY PRICE DIFFERENTIALS PRIVATE RAILROADS PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PRIVATIZATION PRODUCTIVITY PROPERTY SALES PROPERTY TAX BASE PROPERTY TAXES PUBLIC PUBLIC ACCOUNTABILITY PUBLIC ADMINISTRATION PUBLIC AGENCIES PUBLIC BORROWING PUBLIC DEBT PUBLIC FINANCE PUBLIC FINANCING PUBLIC INFRASTRUCTURE PUBLIC INSTITUTIONS PUBLIC INVESTMENT PUBLIC POLICY PUBLIC POLICY RISKS PUBLIC PROPERTY PUBLIC SECTOR PUBLIC SERVICES PUBLIC SPENDING PUBLIC TRANSIT PUBLIC USE PUBLIC WORKS PUBLIC WORKS PROJECTS RAIL RAIL LINKS RAIL STATIONS RAIL SYSTEM RAIL SYSTEMS RAIL TRANSIT RAIL TRANSIT SYSTEMS RAILROADS REAL ESTATE MARKETS RECURRING REVENUE REGIONAL TRANSPORTATION REGIONAL TRANSPORTATION PLAN RING ROAD RING ROADS ROAD ROAD SYSTEMS ROADS ROUTE ROUTES SAVINGS SETTLEMENTS STATE GOVERNMENT STREET PAVING STREETS SUBSIDIARY SUBWAY TAX TAX REVENUES TAXATION TECHNICAL ASSISTANCE TELECOMMUNICATIONS TRANSIT INVESTMENT TRANSIT STATIONS TRANSIT SYSTEMS TRANSPARENCY TRANSPORT TRANSPORTATION TRANSPORTATION AGENCY TRANSPORTATION INFRASTRUCTURE TRANSPORTATION PROJECTS TRUE UNDERGROUND URBAN AREAS URBAN DEVELOPMENT URBAN ECONOMIC GROWTH URBAN GROWTH URBAN HIGHWAY URBAN INFRASTRUCTURE URBAN MANAGEMENT URBAN PLANNING URBAN SERVICES URBAN SPRAWL URBANIZATION UTILITIES WATER SUPPLY WATER SUPPLY SYSTEMS WEALTH |
| spellingShingle |
ACCESS ROADS ACCOUNTABILITY ACCOUNTING ACQUISITION OF RIGHT-OF-WAY ADMINISTRATIVE COSTS AIRPORT AIRPORT CONSTRUCTION AIRPORTS ASSET MANAGEMENT ASSET SALES ASSETS AUCTIONS BALANCE SHEET BETTERMENT LEVIES BRIDGE BUDGET SURPLUS BUS BUS STATION CAPACITY FOR ROADS CAPITAL BUDGETING CAPITAL BUDGETS CAPITAL COSTS CAPITAL GRANTS CAPITAL INVESTMENT CAPITAL PROJECTS CAPITALIZATION CITIES COLLATERAL COMMERCIAL BANKS COMMUNITY DEVELOPMENT CONGESTION CONGESTION COSTS COST OF CAPITAL DEBT FINANCING DEBT SERVICE DECENTRALIZATION DEVELOPMENT CHARGES DRAINAGE ECONOMIC CONDITIONS EFFICIENCY OF INFRASTRUCTURE ELECTRICITY EXPRESSWAYS FARES FINANCE INFRASTRUCTURE FINANCING OF INFRASTRUCTURE FINANCING SOURCES FISCAL MANAGEMENT FISCAL RESPONSIBILITY FLOOR SPACE FREE TRANSFER GOVERNMENT DEBT GOVERNMENT FRAGMENTATION HIGHWAY HIGHWAY ACCESS HIGHWAY CONSTRUCTION HIGHWAY PROJECTS HIGHWAYS HOUSING INCOME INFRASTRUCTURE CAPACITY INFRASTRUCTURE COST INFRASTRUCTURE COSTS INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE FINANCE INFRASTRUCTURE FINANCING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE PROJECTS INTERGOVERNMENTAL FINANCE INTERNATIONAL AIRPORT INTERNATIONAL AIRPORTS INVENTORY INVESTMENT IN ROADS LAND DEVELOPMENT LAND PRICES LAND TAKE LAND USE LAND VALUE LAWS LICENSES LIGHT RAIL LOCAL BUDGETS LOCAL GOVERNMENT LOCAL GOVERNMENT REVENUE LOCAL GOVERNMENTS MARKET VALUE MASS TRANSIT METRO RAIL METROPOLITAN AREAS MINISTRY OF TRANSPORTATION MOBILITY MUNICIPAL MUNICIPAL BONDS MUNICIPAL DEBT MUNICIPAL FINANCE MUNICIPAL GOVERNMENT MUNICIPAL GOVERNMENTS MUNICIPAL INFRASTRUCTURE MUNICIPAL SERVICES MUNICIPALITIES MUNICIPALITY NATIONAL GOVERNMENTS NEIGHBORHOODS OPEN AUCTIONS OPERATING COSTS PASSENGERS POPULATION GROWTH PORT AUTHORITY PRICE DIFFERENTIALS PRIVATE RAILROADS PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PRIVATIZATION PRODUCTIVITY PROPERTY SALES PROPERTY TAX BASE PROPERTY TAXES PUBLIC PUBLIC ACCOUNTABILITY PUBLIC ADMINISTRATION PUBLIC AGENCIES PUBLIC BORROWING PUBLIC DEBT PUBLIC FINANCE PUBLIC FINANCING PUBLIC INFRASTRUCTURE PUBLIC INSTITUTIONS PUBLIC INVESTMENT PUBLIC POLICY PUBLIC POLICY RISKS PUBLIC PROPERTY PUBLIC SECTOR PUBLIC SERVICES PUBLIC SPENDING PUBLIC TRANSIT PUBLIC USE PUBLIC WORKS PUBLIC WORKS PROJECTS RAIL RAIL LINKS RAIL STATIONS RAIL SYSTEM RAIL SYSTEMS RAIL TRANSIT RAIL TRANSIT SYSTEMS RAILROADS REAL ESTATE MARKETS RECURRING REVENUE REGIONAL TRANSPORTATION REGIONAL TRANSPORTATION PLAN RING ROAD RING ROADS ROAD ROAD SYSTEMS ROADS ROUTE ROUTES SAVINGS SETTLEMENTS STATE GOVERNMENT STREET PAVING STREETS SUBSIDIARY SUBWAY TAX TAX REVENUES TAXATION TECHNICAL ASSISTANCE TELECOMMUNICATIONS TRANSIT INVESTMENT TRANSIT STATIONS TRANSIT SYSTEMS TRANSPARENCY TRANSPORT TRANSPORTATION TRANSPORTATION AGENCY TRANSPORTATION INFRASTRUCTURE TRANSPORTATION PROJECTS TRUE UNDERGROUND URBAN AREAS URBAN DEVELOPMENT URBAN ECONOMIC GROWTH URBAN GROWTH URBAN HIGHWAY URBAN INFRASTRUCTURE URBAN MANAGEMENT URBAN PLANNING URBAN SERVICES URBAN SPRAWL URBANIZATION UTILITIES WATER SUPPLY WATER SUPPLY SYSTEMS WEALTH Peterson, George E. Unlocking Land Values to Finance Urban Infrastructure |
| relation |
Trends and Policy Options; No. 7 |
| description |
Urban growth throughout the developing
world has created a challenge for financing infrastructure.
Investment in infrastructure is needed to provide basic
services for newly developed parts of urban areas. It is
needed to meet the demand for a safer and more reliable
water supply, higher standards for the removal and treatment
of wastewater and solid waste, and the transportation
requirements of a population whose expectations of mobility
rise with household incomes. Infrastructure investment also
is essential to the economic productivity of cities. This
book examines an important additional option for local
infrastructure finance: capturing land value gains for
public investment. Land values are highly sensitive to
infrastructure investment and urban economic growth. Public
works projects such as road construction, water supply, and
mass transit investment produce benefits that are
immediately capitalized into surrounding land values. Many
cities in developing countries have underused public lands
that would be more valuable if sold and converted into
infrastructure assets. Tapping land values was a large part
of the investment strategy of Western countries in financing
urban infrastructure during the 19th century, when cities
were growing most rapidly. As part of the overall financing
mix, using land assets for infrastructure finance has
several advantages. Most instruments of this type generate
revenues upfront, making it easier to finance lumpy
investment projects. Mobilizing finance from land
transactions also generates price signals that increase the
efficiency of urban land markets and help rationalize the
urban development pattern. |
| format |
Publications & Research :: Publication |
| author |
Peterson, George E. |
| author_facet |
Peterson, George E. |
| author_sort |
Peterson, George E. |
| title |
Unlocking Land Values to Finance Urban Infrastructure |
| title_short |
Unlocking Land Values to Finance Urban Infrastructure |
| title_full |
Unlocking Land Values to Finance Urban Infrastructure |
| title_fullStr |
Unlocking Land Values to Finance Urban Infrastructure |
| title_full_unstemmed |
Unlocking Land Values to Finance Urban Infrastructure |
| title_sort |
unlocking land values to finance urban infrastructure |
| publisher |
Washington, DC : World Bank |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2008/10/9949773/unlocking-land-values-finance-urban-infrastructure http://hdl.handle.net/10986/6552 |
| _version_ |
1764398045556899840 |
| spelling |
okr-10986-65522021-04-23T14:02:25Z Unlocking Land Values to Finance Urban Infrastructure Peterson, George E. ACCESS ROADS ACCOUNTABILITY ACCOUNTING ACQUISITION OF RIGHT-OF-WAY ADMINISTRATIVE COSTS AIRPORT AIRPORT CONSTRUCTION AIRPORTS ASSET MANAGEMENT ASSET SALES ASSETS AUCTIONS BALANCE SHEET BETTERMENT LEVIES BRIDGE BUDGET SURPLUS BUS BUS STATION CAPACITY FOR ROADS CAPITAL BUDGETING CAPITAL BUDGETS CAPITAL COSTS CAPITAL GRANTS CAPITAL INVESTMENT CAPITAL PROJECTS CAPITALIZATION CITIES COLLATERAL COMMERCIAL BANKS COMMUNITY DEVELOPMENT CONGESTION CONGESTION COSTS COST OF CAPITAL DEBT FINANCING DEBT SERVICE DECENTRALIZATION DEVELOPMENT CHARGES DRAINAGE ECONOMIC CONDITIONS EFFICIENCY OF INFRASTRUCTURE ELECTRICITY EXPRESSWAYS FARES FINANCE INFRASTRUCTURE FINANCING OF INFRASTRUCTURE FINANCING SOURCES FISCAL MANAGEMENT FISCAL RESPONSIBILITY FLOOR SPACE FREE TRANSFER GOVERNMENT DEBT GOVERNMENT FRAGMENTATION HIGHWAY HIGHWAY ACCESS HIGHWAY CONSTRUCTION HIGHWAY PROJECTS HIGHWAYS HOUSING INCOME INFRASTRUCTURE CAPACITY INFRASTRUCTURE COST INFRASTRUCTURE COSTS INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE FINANCE INFRASTRUCTURE FINANCING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE PROJECTS INTERGOVERNMENTAL FINANCE INTERNATIONAL AIRPORT INTERNATIONAL AIRPORTS INVENTORY INVESTMENT IN ROADS LAND DEVELOPMENT LAND PRICES LAND TAKE LAND USE LAND VALUE LAWS LICENSES LIGHT RAIL LOCAL BUDGETS LOCAL GOVERNMENT LOCAL GOVERNMENT REVENUE LOCAL GOVERNMENTS MARKET VALUE MASS TRANSIT METRO RAIL METROPOLITAN AREAS MINISTRY OF TRANSPORTATION MOBILITY MUNICIPAL MUNICIPAL BONDS MUNICIPAL DEBT MUNICIPAL FINANCE MUNICIPAL GOVERNMENT MUNICIPAL GOVERNMENTS MUNICIPAL INFRASTRUCTURE MUNICIPAL SERVICES MUNICIPALITIES MUNICIPALITY NATIONAL GOVERNMENTS NEIGHBORHOODS OPEN AUCTIONS OPERATING COSTS PASSENGERS POPULATION GROWTH PORT AUTHORITY PRICE DIFFERENTIALS PRIVATE RAILROADS PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PRIVATIZATION PRODUCTIVITY PROPERTY SALES PROPERTY TAX BASE PROPERTY TAXES PUBLIC PUBLIC ACCOUNTABILITY PUBLIC ADMINISTRATION PUBLIC AGENCIES PUBLIC BORROWING PUBLIC DEBT PUBLIC FINANCE PUBLIC FINANCING PUBLIC INFRASTRUCTURE PUBLIC INSTITUTIONS PUBLIC INVESTMENT PUBLIC POLICY PUBLIC POLICY RISKS PUBLIC PROPERTY PUBLIC SECTOR PUBLIC SERVICES PUBLIC SPENDING PUBLIC TRANSIT PUBLIC USE PUBLIC WORKS PUBLIC WORKS PROJECTS RAIL RAIL LINKS RAIL STATIONS RAIL SYSTEM RAIL SYSTEMS RAIL TRANSIT RAIL TRANSIT SYSTEMS RAILROADS REAL ESTATE MARKETS RECURRING REVENUE REGIONAL TRANSPORTATION REGIONAL TRANSPORTATION PLAN RING ROAD RING ROADS ROAD ROAD SYSTEMS ROADS ROUTE ROUTES SAVINGS SETTLEMENTS STATE GOVERNMENT STREET PAVING STREETS SUBSIDIARY SUBWAY TAX TAX REVENUES TAXATION TECHNICAL ASSISTANCE TELECOMMUNICATIONS TRANSIT INVESTMENT TRANSIT STATIONS TRANSIT SYSTEMS TRANSPARENCY TRANSPORT TRANSPORTATION TRANSPORTATION AGENCY TRANSPORTATION INFRASTRUCTURE TRANSPORTATION PROJECTS TRUE UNDERGROUND URBAN AREAS URBAN DEVELOPMENT URBAN ECONOMIC GROWTH URBAN GROWTH URBAN HIGHWAY URBAN INFRASTRUCTURE URBAN MANAGEMENT URBAN PLANNING URBAN SERVICES URBAN SPRAWL URBANIZATION UTILITIES WATER SUPPLY WATER SUPPLY SYSTEMS WEALTH Urban growth throughout the developing world has created a challenge for financing infrastructure. Investment in infrastructure is needed to provide basic services for newly developed parts of urban areas. It is needed to meet the demand for a safer and more reliable water supply, higher standards for the removal and treatment of wastewater and solid waste, and the transportation requirements of a population whose expectations of mobility rise with household incomes. Infrastructure investment also is essential to the economic productivity of cities. This book examines an important additional option for local infrastructure finance: capturing land value gains for public investment. Land values are highly sensitive to infrastructure investment and urban economic growth. Public works projects such as road construction, water supply, and mass transit investment produce benefits that are immediately capitalized into surrounding land values. Many cities in developing countries have underused public lands that would be more valuable if sold and converted into infrastructure assets. Tapping land values was a large part of the investment strategy of Western countries in financing urban infrastructure during the 19th century, when cities were growing most rapidly. As part of the overall financing mix, using land assets for infrastructure finance has several advantages. Most instruments of this type generate revenues upfront, making it easier to finance lumpy investment projects. Mobilizing finance from land transactions also generates price signals that increase the efficiency of urban land markets and help rationalize the urban development pattern. 2012-05-29T16:40:18Z 2012-05-29T16:40:18Z 2008 http://documents.worldbank.org/curated/en/2008/10/9949773/unlocking-land-values-finance-urban-infrastructure 978-0-8213-7709-3 http://hdl.handle.net/10986/6552 English en_US Trends and Policy Options; No. 7 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC : World Bank Publications & Research :: Publication Publications & Research :: Publication |