Integrating Hard-To-Measure Externalities into the Evaluation of Economic Development Program

Citation:

D., Felsenstein, Persky J., and Wiewel W. 1997. “Integrating Hard-To-Measure Externalities into the Evaluation of Economic Development Program”. Town Planning Review 68 (1):55-80.
Integrating Hard-To-Measure Externalities into the Evaluation of Economic Development Program

Abstract:

This paper seeks to illustrate that within a systematic and reproducible evaluation framework there is room for subjective inputs based on local experience and knowledge. A spreadsheet model for evaluating economic development projects is presented which also evaluates "neighbourhood spillover impacts" generated by local economic development projects. These spillover effects - visual impacts in the neighbourhood, investor confidence and so on - are classified and characterised and a quantitative index is constructed in order to gauge the magnitude of their impact. Two hypothetical case studies are presented to suggest the trade-offs between monetary benefits and neighbourhood effects.

Publisher's Version

Last updated on 02/05/2017