Now showing 1 - 10 of 18
  • Publication
    Accounting for transaction costs in planning policy evaluation
    The costs incurred in the design and implementation of planning policy instruments are not always considered sufficiently. In order to increase the efficacy of planning policy instruments, these transaction costs need to be taken into account. While such transaction costs are expected to vary according to their institutional design and arrangements, up to now there has been no systematic research concerned with how planners should consider transaction costs, and other institutional aspects, as evaluation criteria in planning policy analysis. This paper investigates how, and in which stages, these costs can be included in planning policy design and analysis. Using the literature of transaction costs and new institutional economics, this paper proposes a framework for integrating these costs into evaluating planning policy instruments. This framework consists of different factors that influence transaction costs in designing and implementing a planning policy instrument. Although some researchers have discussed the influence of factors concerning the characteristics of transactions and transactors, there has been limited consideration of the importance of factors related to the characteristics of a policy. This paper argues that policy characteristics, such as, simplicity, age of the policy, precision of the policy, policy approach, public involvement and participation, and policy credibility and consistency, can affect transaction costs in any policy. Therefore, the paper concludes that, in addition to transaction and transactor characteristics, a 'policy characteristics' category should be included to emphasise the importance of policy selection and design in transaction costs of a planning policy instrument.
      361Scopus© Citations 41
  • Publication
    Impact-based planning evaluation: Advancing normative criteria for policy analysis
    Planning decisions have considerable impacts on both natural and built environments. The impacts of these decisions may remain for many decades and many are irreversible. In order to gain a better understanding of these long-standing impacts, planners require a systematic approach to evaluate the planning policy instruments utilised. The literature on planning evaluation shows that most studies have taken a conformance-based evaluation approach, where the success of a planning policy instrument is based on the degree of conformity between the policy outcomes and its intended objectives. While evaluating such criteria is necessary, it is hardly ever sufficient largely because of unintended effects. This paper proposes an impact-based approach to planning evaluation that incorporates all the impacts, intended and otherwise, that a planning policy instrument may bring about, irrespective of the initial objectives of the policy. Using a number of economic and planning theories, this paper argues that, in addition to conformance and performance, other normative evaluation criteria, such as, efficiency, equity, social and political acceptability, and institutional arrangements, should be included to emphasize the importance of planning decisions and their substantial impacts on quality of life, social justice, and sustainability.
      1402Scopus© Citations 44
  • Publication
    A theory of the impediments to environmental tax reform
    (University College Dublin. School of Geography, Planning and Environmental Policy, 2001-12) ;
    Environmental Tax Reform (ETR) is widely accepted to be a policy with desirable environmental, and other economic effects. The question arises then as to why its implementation has been so patchy. There is a broad literature on the economic impact of ETR, however, there have been very few research efforts devoted to understanding the roles and imperatives of the public, policy-makers, businesses and other stakeholders who are addressed by ETR. This paper examines the impediments to environmental tax reform. Focus groups were formed comprising of members of the general public and these provided a forum for detailed reactions to the ETR concept. Interviews were conducted with policy makers and key business people in an attempt to identify both the patterns of thinking behind ETR and the main obstacles to its introduction. Having presented the results, a theory of the main impediments to ETR is developed. The principal potential impediments to ETR include: mistrust of the government, implausibility of the policy, means of hypothecation, information asymmetries, the political system, the structure of government, the macroeconomic environment, the impact on competitiveness, inequity between sectors, regressivity, elasticities and the level of the tax, terminology, and the marketing of ETR.
      370
  • Publication
    Timing and Distributional Aspects of Transaction Costs in Transferable Development Rights Programmes
    Planners are required to evaluate planning policy instruments to develop a better understanding of how they can improve their policy design and implementation processes. Transferable Development Rights (TDR) programmes are one of the market-based policy instruments that have attracted considerable attention among planners and economists. Given that TDR programmes have been introduced as an alternative to traditional regulatory instruments in several jurisdictions on the basis that their implementation will result in better policy outcomes, evaluation of these alternative programmes is particularly important. Like all policy instruments, the activities concerned with the design and implementation of TDR programmes may involve significant transaction costs. These activities can be considered as a series of transactions from the perspective of Transaction Cost Economics (TCE). While transaction costs are expected to vary across the lifecycle of a policy instrument, up to now there have been no systematic research studies concerned with why, and how, such transaction costs occur and are distributed among parties involved in different phases of TDR programmes. So as to aid better design and implementation of TDR programmes, this paper analyses the effects of transaction costs throughout the life of four TDR programmes (Calvert, Montgomery, St. Mary's, and Charles Counties) in the US state of Maryland in order to gain a better understanding of the timing and distribution of such costs incurred by different parties involved.
    Scopus© Citations 30  418
  • Publication
    Cost-benefit analysis of a resource and environmental survey of Ireland
    (University College Dublin. Department of Environmental Studies, 2001-11) ;
    The Geological Survey of Ireland (GSI) has proposed that a national geochemical and airborne geophysical survey of Ireland be undertaken. Together with independent input from the Geological Survey of Northern Ireland, this would cover the whole county. The proposed survey has been termed the Resource and Environment Survey of Ireland (RESI). This paper contains an ex-ante cost-benefit analysis of the GSI’s proposal. This analysis reveals a benefit-cost ratio of 5.0.
      1303
  • Publication
    Modelling winners and losers in contingent valuation of public goods : appropriate welfare measures and econometric analysis.
    (University College Dublin. School of Economics, 1998-08) ;
    Contingent Valuation is now the most widely used method for valuing non-marketed goods in cost benefit analysis. Yet, despite the fact that many externalities manifest themselves as costs to some and benefits to others, most studies restrict willingness to pay (WTP) to being non-negative. This paper explores appropriate welfare measures for assessing losses and gains and demonstrates how these can be elicited explicitly. Statistical / econometric methods are presented for modelling such responses. Median WTP is estimated non-parametrically. Grouped regression / Tobit and grouped regression / hurdle models are used to identify the determinants of WTP and to estimate mean WTP.
      758
  • Publication
    Acting Now While Preparing for Tomorrow: Competitiveness upgrading under the shadow of COVID-19
    (Harvard Business School, 2020-04-29) ;
    This paper aims to provide policy makers, especially those focused on the longer-term growth potential of their countries, with an initial framework to think about their action priorities in the context of the overall COVID-19 response. Our focus is on the supply-side, microeconomic, and firm-centric response to the virus and its economic repercussions, a dimension that, in our view, needs to be added to the public health and macroeconomic issues currently dominating the debate. We argue that, for the approach towards partial re-opening of economies to be effective in reviving economic activity, public health measures need to be accompanied by a microeconomic toolkit. China’s economic data suggests that a full recovery is not automatic even when restrictions are removed, and the US evidence suggests that the degree of economic slowdown by state is not simply a function of the public health restrictions put in place. A large set of microeconomic barriers, from disrupted supply chains to weakened balance sheets to the need to establish new safe operating procedures, will need to be addressed as well to get closer towards economic normality. We argue that, in the approach to post-pandemic recovery, macroeconomic policies need to be accompanied by upgrading microeconomic competitiveness to ensure sustained, robust growth. The microeconomic factors to address include the quality of institutions, the quality of factor-input conditions, the openness of markets, the rules and regulations affecting businesses, and the presence of dynamic clusters and the sophistication of companies. The global financial crisis (GFC) showed how even successful macroeconomic stabilization can result in lower long-term productivity and prosperity growth. We outline a set of key factors to consider as countries develop a post-COVID plan for competitiveness upgrading to achieve a sustained and healthy recovery. The paper focuses on identifying key policy issues governments will have to address, without being overly prescriptive on the specific actions to take. While providing specific answers will obviously be important, past crises have shown that countries tripped up not only because they provided the wrong answers but also because they failed to focus on the right questions.
      326
  • Publication
    A spatial econometric analysis of well-being using a geographical information systems approach
    (University College Dublin. Planning and Enviornmental Policy, 2006-07) ; ;
    In recent years, economists have being using socio-economic and socio-demographic characteristics to explain self-reported individual happiness or satisfaction with life. Using Geographical Information Systems (GIS), we employ data disaggregated at the individual and local level to show that while these variables are important, consideration of amenities such as climate, environmental and urban conditions is critical when analyzing subjective wellbeing. Location-specific factors are shown to have a direct impact on life satisfaction. Most importantly, however, the explanatory power of our happiness function substantially increases when the spatial variables are included, highlighting the importance of the role of the spatial dimension in determining well-being. This may have potentially important implications for setting priorities for public policy as, in essence, improving well-being could be considered to be the ultimate goal of public policy.
      868
  • Publication
    Environmental and wider economic implications of modifications to environmental tax reform
    (University College Dublin. School of Geography, Planning and Environmental Policy, 2002-03) ;
    The most common definition of Environmental Tax Reform (ETR) is the use of the revenue from environmental taxes to reduce distortionary labour taxes. However, the PETRAS project has shown that there are a number of social and political impediments to implementing such reform. This paper firstly outlines some of the environmental and economic implications of environmental taxes generally. It goes on to explore three broad approaches to ETR, based on the allocation of the tax revenues, and explores the environmental and economic implications of each approach and the likelihood of political and social acceptance. Particular attention is paid to ameliorating regressive impacts and impacts on competitiveness. It is concluded that some combination of hypothecating a proportion ofrevenues to environmental projects and diverting rest to reduce labour taxes is probably the best approach in light of the results of the project. The balance should depend upon local labour market and macroeconomic conditions, the extent to which environmental projects are already funded and the extent of government failure. Funding should only provided to environmental projects if it can be shown that, in themselves, they are economically efficient. In addition, it is most important that a proportion of the funds be used to ameliorate any regressive impacts. It is also important to bear in mind that hypothecation or recycling of revenue is not the same as a tax shift, which is a reform of the entire system, so some of these approaches may take away from the integrity of ETR. The paper concludes with some of the initiatives that are likely to be necessary to facilitate social and political acceptance of this approach to ETR.
      313
  • Publication
    Valuing the environment using the life-satisfaction approach
    (University College Dublin. School of Geography, Planning and Environmental Policy, 2006-05) ; ;
    This paper presents a comprehensive theoretical and methodological framework clarifying the relationship between non-market environmental valuation techniques, in particular hedonic and life-satisfaction methods. The paper shows how life satisfaction scores can be used to test correctly the equilibrium condition in location markets required by the hedonic approach and that in the absence of equilibrium, the life-satisfaction approach is still a theoretically valid valuation technique. Valuation using the life-satisfaction approach suffers from caveats associated with the cardinalisation of utility, however. Using data from Ireland, we apply this framework to the valuation of amenities linked to respondents’ dwelling areas using Geographic Information Systems (GIS).
      992