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The Local Economic Impacts of Regeneration Projects: Evidence from UK's Single Regeneration Budget

Stephen  Gibbons,  Henry  Overman,  Matti  Sarvimäki,  August 2017
Paper No' SERCDP0218: | Full paper (pdf)
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Keywords: single regeneration budget; regeneration; employment; neighbourhoods; urban policy

JEL Classification: R11; J08; H50

Is hard copy/paper copy available? YES - Paper Copy Still In Print.
This Paper is published under the following series: SERC Discussion Papers
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Abstract:

We study the local economic impacts of a major regeneration programme aimed at enhancing the quality of life of local people in deprived neighbourhoods in the UK. The analysis is based on a panel of firm and area level data available at small spatial scales. Our identification strategies involve: a) exploiting the fine spatial scale of our data to study how effects vary with distance to the intervention area; and b) comparing places close to treatment in early rounds of the programme with places close to treatment in future rounds. We consider the long run impact of schemes funded between 1995 and 1997 on outcomes up to 2009. Our estimates suggest that the programme increased workplace employment in the intervention area but this had no impact on the employment rates of local residents.