A smart policy instrument called “land-value capture” can help governments pay for expensive infrastructure and other public services without drawing from their general budget. Let’s look at how they do it.
Rudiger Ahrend
Rudiger Ahrend is Head of the Economic Analysis, Data and Statistics Division in the OECD Centre for Entrepreneurship, SMEs, Regions and Cities. In addition, he also oversees the activities of the OECD Laboratory for Geospatial Analysis. In these capacities, and in his previous role as Head of the Urban Programme, he has been supervising numerous projects in a wide area of subjects, including on industrial transition, regional and urban innovation and development, subnational finance, spatial productivity, metropolitan governance, land use, land value capture, housing, green growth, climate change, transport, metropolitan governance, and national urban policies. He has also supervised numerous reviews and case studies of regions and major metropolitan agglomerations, and is the main author of “The Metropolitan Century: Understanding Urbanisation and its Consequences”. During his time as Head of the Urban Programme, Dr Ahrend was also in charge of the OECD Working Party on Urban Policies, as well as the OECD Roundtable of Mayors and Ministers.
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Many readers will be familiar with the game SimCity. You play an omnipotent mayor, laying roads, planning infrastructure, and zoning land to grow your city and attract “Sims”, the inhabitants of your marvel creation. With good planning, your city prospers, Sims are happy, and you earn “Simoleons” (SimCity’s currency) to develop your city further. That is, of course, barring the occasional zombie apocalypse.