Zdolność projektów JESSICA do oddziaływania na procesy rynkowe w miastach

TitleZdolność projektów JESSICA do oddziaływania na procesy rynkowe w miastach
Publication TypeJournal Article
Year of Publication2019
AuthorsIdczak, Piotr, Musiałkowska Ida, and Mrozik Karol
JournalBiuletyn KPZK
Start Page202
Date Published10/2019
Keywordsfinancial engineering instruments, JESSICA initiative, regeneration, sustainable urban development

JESSICA initiative as a financial engineering instrument was introduced to enhance and accelerate investments in disadvantaged urban areas. The novel aspect of JESSICA is that this instrument should not only support and promote sustainable urban development but also provide incentives that lower risk capital investments and consequently allow to overcome existing market failures. Thus, the paper aims to identify whether JESSICA projects have contributed to generating positive market effects, as well as to indicate the factors that were most responsible for the occurrence of these phenomena. The results show that 75% out of all projects generated positive market effects in form of new jobs, services or products. The generation of revenues by particular project was the most influential factor determining the capacity of a given project to create positive markets effects.

Refereed DesignationRefereed