@article {4370,
	title = {Los proyectos JESSICA como catalizadores del desarrollo urbano sostenible en Polonia},
	journal = {CEPAL Serie Seminarion y Conferencias "Los desaf{\'\i}os de la planificaci{\'o}n para el desarrollo en Am{\'e}rica Latina y el Caribe: algoritmos, metodolog{\'\i}as y experiencias"},
	volume = {95},
	year = {2023},
	month = {02/2023},
	pages = {203-222},
	chapter = {203},
	abstract = {Una de las consecuencias negativas de los procesos de desarrollo que han tenido lugar en la Uni{\'o}n Europea son las disparidades en el desarrollo de las ciudades y zonas urbanas, que afectan tanto a los ciudadanos como al nivel de actividad econ{\'o}mica, lo que puede conducir a la degradaci{\'o}n del propio espacio. Las disparidades pueden entenderse como el resultado de un fallo del mercado. Por lo tanto, es preciso llevar a cabo intervenciones que guarden relaci{\'o}n con un proceso de regeneraci{\'o}n. A fin de abordar este problema, la Comisi{\'o}n Europea decidi{\'o} presentar la iniciativa de Ayuda Europea Conjunta en Apoyo de Inversiones Sostenibles en Zonas Urbanas (JESSICA), como parte de la pol{\'\i}tica de cohesi{\'o}n ejecutada en el per{\'\i}odo comprendido entre 2007 y 2013. JESSICA es un instrumento financiero rotatorio que se centra en el desarrollo sostenible de las ciudades, y 11 Estados miembros decidieron poner a prueba la soluci{\'o}n propuesta. El primer pa{\'\i}s en firmar el acuerdo fue Polonia, que implant{\'o} JESSICA en cinco regiones (Pomorskie, Mazowieckie, {\'S}l{\k a}skie, Wielkopolskie y Zachodniopomorskie). Este enfoque innovador entra{\~n}{\'o} numerosos desaf{\'\i}os para todas las partes interesadas (actores europeos, regionales y locales procedentes tanto del sectorp{\'u}blico como del privado) que participaron en la planificaci{\'o}n y la implementaci{\'o}n de la iniciativa. La metodolog{\'\i}a empleada se basa en el paradigma positivista, que examina las relaciones causales entre las intervenciones p{\'u}blicas (proyectos) y sus efectos. Se ha adoptado un enfoque realista en las t{\'e}cnicas de evaluaci{\'o}n, as{\'\i} como en nuestra propia evaluaci{\'o}n de todos los proyectos, realizada por expertos, que se han fundamentado a trav{\'e}s de numerosas herramientas anal{\'\i}ticas como el agrupamiento jer{\'a}rquico y aglomerativo. De las principales conclusiones del estudio se desprende que los proyectos ejecutados en Polonia tan solo cumplen parcialmente los supuestos te{\'o}ricos, y que las imensiones social y horizontal del desarrollo sostenible han estado infrarrepresentadas. Se observan ciertas divergencias a nivel regional en lo que respecta al enfoque modelo, y una regi{\'o}n destaca en cuanto a la calidad de los proyectos (Zachodniopomorskie). Los proyectos relacionados con el patrimonio hist{\'o}rico o cultural, seguidos de los que se centran en la reconversi{\'o}n de los terrenos industriales abandonados, son los que mejor reflejan la complejidad del desarrollo urbano sostenible},
	keywords = {EU, EU funds, financial engineering, JESSICA, Poland, sustainable development, urban regeneration},
	issn = {1680-9041},
	url = {https://hdl.handle.net/11362/48685},
	author = {Ida Musia{\l}kowska and Piotr Idczak}
}
@book {4353,
	title = {Financial Engineering in Sustainable Funding of Urban Development in the EU Reflections on the JESSICA Initiative},
	year = {2022},
	pages = {1-243},
	publisher = {De Gruyter},
	organization = {De Gruyter},
	address = {Berlin/ Boston},
	abstract = {This theoretically rooted and research-based book provides insights on the JESSICA funding model which {\textendash} unlike the traditional non-repayable aid {\textendash} focuses on supporting sustainable urban development projects in a repayable and recyclable way. Looking through the lens of the JESSICA financial engineering mechanism used in urban transformation, it examines the functioning and performance thereof and formulates policy recommendations for the future. The aim of this volume is to contribute to a deeper understanding of the JESSICA sustainable funding model by exploring its repayable assistance mechanism to support sustainable urban development projects. The authors make several noteworthy contributions to the literature on EU cohesion policy and shed light on the use of the repayable instruments within public interventions, while providing, for the first time, a critical analysis of the JESSICA sustainable funding model from the holistic perspective which is especially relevant for supporting sustainable urban development. Financial Engineering in Sustainable Funding of Urban Development in the EU provides policy-significant findings that are important for EU cohesion policy in the field of repayable assistance to be reinvested in the long term in urban and regional transformation. Includes an in-depth exploration of the particular aspects of EU cohesion policy Provides theoretical discussion and empirics illustrated by figures and maps. 
Contributors are experts, representing policy-oriented and academic research.},
	keywords = {cohesion policy, EU, EU funds, financial engineering, JESSICA, Poland, urban development, urban policy, urban regeneration},
	isbn = {9783110762198},
	doi = {https://doi.org/10.1515/9783110762198},
	url = {https://www.degruyter.com/document/doi/10.1515/9783110762198/html$\#$overview},
	author = {Piotr Idczak and Ida Musia{\l}kowska}
}
@inbook {4273,
	title = {JESSICA Initiative to Support Sustainable Urban Development Projects in Poland},
	booktitle = {Successes \& Failures in EU Cohesion Policy: An Introduction to EU cohesion policy in Eastern, Central, and Southern Europe},
	year = {2020},
	pages = {173{\textendash}204},
	publisher = {De Gruyter},
	organization = {De Gruyter},
	address = {Warsaw/Berlin},
	abstract = {<p style="text-align: justify;">The JESSICA initiative has been set up to respond to development needs of urban areas, which are of key importance for stimulation of sustainable economic growth. It is supposed to provide a more efficient alternative to the traditional EU grants for the implementation of developmental projects. The funding available under the JESSICA framework relies on a repayable and recyclable basis. This means that it not only offers revolving funds, increasing financing capacity of EU cohesion policy, but also creates scope for cooperation between public authorities, financial institutions, and private investors to support implementation of this policy. Since JESSICA supports projects being part of an integrated plan for sustainable urban development, its primary challenge is to combine the objectives focused on urban sustainability and policy intervention with revolving financial models that assume, in principle, the long-term viability of projects. However, taking into particular consideration the needs of urban areas and the EU cohesion policy objective on the one hand, and the organisation and operation of financing engineering instruments on the other, JESSICA seems to be a very ambitious undertaking. The evaluations carried out, up to now, have been mainly focused on its legal and institutional framework, or limited to some selected project. Our study concerns the assessment of all projects implemented within the framework of the JESSICA initiative in five Polish regions, namely: Pomorskie, Mazowieckie, {\'S}l{\k a}skie, Wielkopolskie and Zachodniopomorskie, in the years between 2007-2015. To do so, we designed a methodological approach for assessing the extent to which projects implemented under the JESSICA initiative have contributed to achieving its fundamental assumptions. Subsequently, we made an assessment of the results of JESSICA through the conceptual lens of sustainable urban development. The main findings show that the range of achieving the assumptions of the JESSICA funding model by projects diverges widely. Many projects were quite well adjusted to the requirements but there were also projects that fulfilled them to a very limited extent.</p>},
	keywords = {cohesion policy, JESSICA, revenue-generating projects, revolving instruments, sustainable urban development},
	doi = {https://doi.org/10.1515/9788395720451-009},
	author = {Ida Musia{\l}kowska and Piotr Idczak}
}
@article {4046,
	title = {Ocena dopasowania projekt{\'o}w realizowanych w ramach inicjatywy Jessica do potrzeb wyst{\k e}puj{\k a}cych na obszarach miejskich},
	journal = {Studia KPZK},
	volume = {184},
	year = {2018},
	month = {11/2018},
	pages = {233-246},
	chapter = {233},
	abstract = {<p style="text-align: justify;">Regeneration {\textendash} an integrated process of activities undertaken in the spatial, social and economic dimensions should lead to the improvement of the living conditions of inhabitants of degraded urban areas. The European Union in 2007-2013 allocated financial resources for this purpose in the form of JESSICA initiative which is based on financial engineering mechanism. Experiences gained so far allow conclusions to be drawn that JESSICA is a highly financially-efficient instrument but, however, not always delivers the desired outcomes in the spatial and social sphere. The scope of projects often is limited to infrastructural investments and does not reflect the complexity of regeneration process. In the article the authors analyse experiences of the five Polish regions with the use of JESSICA, point out main problems and formulate recommendations for sustainable urban policy.</p>},
	keywords = {financial engineering instruments, JESSICA, regeneration, sustainable urban development},
	isbn = {978-83-63563-51-6},
	issn = {0079-3493},
	url = {http://journals.pan.pl/dlibra/publication/125745/edition/109724/content},
	author = {Ida Musia{\l}kowska and Piotr Idczak}
}
@inbook {3924,
	title = {The use of repayable financial instruments in the process of regeneration of degraded urban areas on the example of the JESSICA initiative},
	booktitle = {Changes and Challenges in the Modern World Economy},
	volume = {1},
	year = {2016},
	pages = {115-136},
	publisher = {PUEB Press},
	organization = {PUEB Press},
	edition = {1},
	address = {Pozna{\'n}},
	keywords = {EU funds, financial instruments, JESSICA, Poland, regeneration, urban areas, Wielkopolskie},
	isbn = {978-83-7417-918-8},
	url = {https://depot.ceon.pl/handle/123456789/12083},
	author = {Ida Musia{\l}kowska and Piotr Idczak}
}
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