Who are the public equity holders? partners needed in Philadelphia and baltimore for urban sustainability

Abstract

The Great Recession has strained governments at all levels and presented cities, especially formerly industrial cities, with nearlyunprecedented budgetary challenges. This paper examines the long-termimplications for infrastructure maintenance and service provision ofunfavorable economic and demographic trends in Philadelphia andBaltimore. The concept of the public equity holder, which borrows a term forpublic finance from corporate finance, introduces a category of potentialcontributors to the capital deficit undermining urban sustainability. Theconcept is illustrated by a case study of the two cities to explore howcandidate public equity holders, including taxpayers, nonprofits, and publicemployees, may contribute. Resulting from this research are identifiablefactors, particularly patience and risk tolerance, which have led to orimpeded partnerships promoting urban sustainability and will provide thefoundation for broader future study

Citation

Gibson, E. (2011), "Who are the public equity holders? partners needed in Philadelphia and baltimore for urban sustainability", Journal of Public Budgeting, Accounting & Financial Management, Vol. 23 No. 3, pp. 362-394. https://doi.org/10.1108/JPBAFM-23-03-2011-B004