OECD Regional Development Papers
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- OECD Regional Development Working Papers
Papers from the Centre for Entrepreneurship, SMEs, Regions and Cities of the OECD cover a full range of topics including regional statistics and analysis, urban governance and economics, rural governance and economics, and multi-level governance. Depending on the programme of work, the papers can cover specific topics such as regional innovation and networks, sustainable development, the determinants of regional growth or fiscal consolidation at the subnational level.
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- ISSN: 27094065 (online)
- https://doi.org/10.1787/267a6231-en
Financing transportation infrastructure through Land Value Capture
Concepts, tools, and case studies
With tightening public finances, land value capture (LVC) can be an attractive fiscal tool to finance ever-increasing demands for transport infrastructure. This paper begins by discussing the principles of LVC and individual LVC instruments in the context of infrastructure provision, with a focus on the opportunities and challenges for LVC implementation. It then presents unique case studies of LVC use in France, Japan, Korea and the United Kingdom, highlighting how it was used to fund the construction of major subways and railways. Based on these case studies, the paper discusses some key insights, including how to use LVC together with expropriation, enacting enabling legal frameworks, and diversifying revenue streams. It also highlights some common considerations for successful implementation, most notably for eliciting public support, promoting transit-oriented development, and establishing fair and transparent rules for LVC.
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