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Advancing Revolving Funds for the Sustainable Development of Rural Regions

Author

Listed:
  • Nils-Magnus Wasser

    (Real Estate Studies, Technische Universität Kaiserslautern, Paul-Ehrlich-Straße 14, 67663 Kaiserslautern, Germany)

  • Philipp Ruhstorfer

    (IPU, Breite Gasse 4-5, 99084 Erfurt, Germany)

  • Björn-Martin Kurzrock

    (Real Estate Studies, Technische Universität Kaiserslautern, Paul-Ehrlich-Straße 14, 67663 Kaiserslautern, Germany)

Abstract

Financing measures and incentive schemes for (existing and new) building owners can promote the sustainable settlement development of rural regions or municipalities and, in a wider sense, entire countries or cross-border regions. In order to be used on a broad scale, the concept of revolving funds must continue to be further developed. In this research, the concept of an advanced revolving housing fund (ARF) for building owners to support the sustainable development of rural regions and potential mechanisms are introduced. The ARF is designed to reflect impacts and challenges with regard to rural regions in Germany, Europe and beyond. Based on New Institutional Economics, the Theory of Spatial Organisms, an expert workshop, interviews and discussions and further literature research, the fundamentals for incentive schemes and the essential mechanisms and design aspects of the ARF are derived. This includes the principal structure and governance of a holding fund and several regional funds. Based on this, input parameters for the financial modelling of an ARF are presented as well as guiding elements for empirical testing to promote more research in this area. It is found that the ARF should have a regional focus and must be a comprehensive instrument of settlement development with additional informal and formal measures. The developed concept promises new impulses, in particular, for rural regions. It is proposed to test the concept by means of case studies in pioneer regions of different countries.

Suggested Citation

  • Nils-Magnus Wasser & Philipp Ruhstorfer & Björn-Martin Kurzrock, 2020. "Advancing Revolving Funds for the Sustainable Development of Rural Regions," Sustainability, MDPI, vol. 12(20), pages 1-20, October.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:20:p:8455-:d:427732
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    References listed on IDEAS

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    1. Christian Leßmann & Beate Schirwitz, 2008. "Revolvierende Fonds als Instrument zur Neuausrichtung der Förderpolitik," ifo Dresden berichtet, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 15(02), pages .11-18, April.
    2. Achtnicht, Martin & Madlener, Reinhard, 2014. "Factors influencing German house owners' preferences on energy retrofits," Energy Policy, Elsevier, vol. 68(C), pages 254-263.
    3. Christian Westermeier & Markus M. Grabka, 2017. "Zunehmende Polarisierung der Immobilienpreise in Deutschland bis 2030," DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 84(23), pages 451-459.
    4. Mensing, Klaus, 2019. "Revitalisierung des Immobilienbestandes in Klein- und Mittelstädten durch einen revolvierenden Stadtentwicklungsfonds," Arbeitsberichte der ARL: Aufsätze, in: Nischwitz, Guido & Andreas, Verena (ed.), Stadtentwicklungsfonds: Ein neues Instrument zur Unterstützung nachhaltiger Stadtentwicklung?, volume 26, pages 123-135, ARL – Akademie für Raumentwicklung in der Leibniz-Gemeinschaft.
    5. Rudolf Richter, 2015. "Essays on New Institutional Economics," Springer Books, Springer, edition 127, number 978-3-319-14154-1, December.
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    Cited by:

    1. Alena Harbiankova & Elena Scherbina, 2021. "Evaluation Model for Sustainable Development of Settlement System," Sustainability, MDPI, vol. 13(21), pages 1-15, October.
    2. Alena Harbiankova & Lora Gertsberg, 2022. "Information Model for Sustainable Rural Development," Energies, MDPI, vol. 15(11), pages 1-15, May.
    3. Marius Mihai Micu & Eduard Alexandru Dumitru & Catalin Razvan Vintu & Valentina Constanta Tudor & Gina Fintineru, 2022. "Models Underlying the Success Development of Family Farms in Romania," Sustainability, MDPI, vol. 14(4), pages 1-17, February.
    4. Ionuț-Adrian Drăguleasa & Amalia Niță & Mirela Mazilu & Gheorghe Curcan, 2023. "Spatio-Temporal Distribution and Trends of Major Agricultural Crops in Romania Using Interactive Geographic Information System Mapping," Sustainability, MDPI, vol. 15(20), pages 1-25, October.

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