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New Finance for America’s Cities
Hebb, Tessa Sharma, Rajiv
Hebb, Tessa
Sharma, Rajiv
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Abstract
"About Research Snapshots: Research snapshots bridge the gap between knowledge and practice through synthesizing existing research and presenting it in a way that is useful and meaningful to diverse perspectives. The snapshots are part of a knowledge mobilization program hosted by the CBERN SRI Cluster that aims to engage asset owners, investment managers, and professional service organizations that are global signatories to the Principles of Responsible Investment in advance of and during the PRI Academic Network Conference in October 2012. What is this Research About? The paper talks about new sources of finance that is available for fueling America's infrastructure projects. There is a noticeable difference between the way infrastructure projects were funded in the past and now. In the past, infrastructure projects were carried out predominantly by government with public good as the motive. But, lately because of the economic crisis, governments are facing huge deficits. As a result, institutional investors and pension funds are shouldering the role of infrastructure funding. The motive of public good is in turn substituted by private monetary benefit. A key question the research answers is - What is the impact of these new investment sources for America’s cities? The research also identifies the best practices of high impact public funds."
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2012
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With permission of the license/copyright holder