Title:

Are Place-Based Policies a Boon for Everyone?, No. 24-07

PREVIOUS | NEXT

Are Place-Based Policies a Boon for Everyone?, No. 24-07

DATE: February 2024

PART OF: AUTHOR:

ABSTRACT:

Despite the widespread implementation of locally targeted "place-based" interventions, their optimal design and effectiveness in addressing regional economic disparities remains open. Proponents argue that they can leverage powerful agglomeration economies and benefit underserved areas. Critics highlight potential pitfalls like inefficiency, gentrification and negative spillovers. Evaluating their effectiveness is challenging due to policy heterogeneity and data limitations, as existing evidence presents a mixed picture: Some programs seem to contribute to job creation and poverty reduction, while others exhibit negligible or even detrimental effects. Ultimately, a balanced approach is recommended. Place-based policies should be considered alongside other interventions within a comprehensive strategy addressing regional disparities.

Download (pdf) View Full Text

Share this page:


Diversity is critical to the Federal Reserve, and we are firmly committed to fostering a diverse and inclusive culture throughout the Federal Reserve System. Collections within FRASER contain historical language, content, and descriptions that reflect the time period within which they were created and the views of their creators. Certain collections contain objectionable content—for example, discriminatory or biased language used to refer to racial, ethnic, and cultural groups. These viewpoints and attitudes are inconsistent with our values, but the original descriptions are retained to ensure that they are not erased from the historical record.
Save & Share
less

Federal Reserve Bank of Richmond. "Are Place-Based Policies a Boon for Everyone?, No. 24-07" in Economic Brief (February 2024). https://fraser.stlouisfed.org/title/6034/item/660860, accessed on November 23, 2024.

More Information
less

THEMES:

Metadata (XML)
Metadata (JSON)