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1. Taxing Development: The Law and Economics of Traffic Impact Fees

Author:
Edward P. Stringham, Benjamin Powell, and Jack Estill
Publication Date:
12-2006
Content Type:
Working Paper
Institution:
Independent Institute
Abstract:
Should developers be charged fees for negatively impacting residents? New development often uses existing (or requires new) infrastructure including roads, sewers, refuse collection, parks, fire, police, and schools. When developers provide this infrastructure to users for “free,” who should pay? Over the past fifty years governments have increasingly charged new development impact fees for imposing costs on communities. California is one of the leaders in the development of impact fees. The modern Pigovian idea is that government can set a fee at the value of the impact to internalize externalities and encourage the economically efficient amount of development. While developers can often provide the necessary infrastructure within their own developments as part of the construction process, additional impacts from new development may spill over into existing communities that necessitate additional capital improvements. Local government can hypothetically charge the development a fee that is equal to this impact, thereby internalizing this externality. If the exact value of the external impact is known and implemented as a fee, this process can encourage the economically efficient amount of development. Despite the increasing popularity of development impact fees, several issues make the government's “economically efficient” solution easier said than done.
Topic:
Civil Society, Development, Economics, and Education
Political Geography:
California

2. Somalia After State Collapse: Chaos or Improvement?

Author:
Benjamin Powell, Alex Nowrasteh, and Ryan Ford
Publication Date:
11-2006
Content Type:
Working Paper
Institution:
Independent Institute
Abstract:
Many people believe that Somalia's economy has been in chaos since the collapse of its national government in 1991. We take a comparative institutional approach to examine Somalia's performance relative to other African countries both when Somalia had a government and during its extended period of anarchy. We find that although Somalia is poor, its relative economic performance has improved during its period of statelessness. We also describe how Somalia has provided basic law and order and a currency, which have enabled the country to achieve the coordination that has led to improvements in its standard of living.
Topic:
Development, Economics, and Government
Political Geography:
Africa and Somalia

3. Development Aid and Economic Freedom: Are They Related?

Author:
Benjamin Powell and Matt Ryan
Publication Date:
05-2005
Content Type:
Working Paper
Institution:
Independent Institute
Abstract:
For more than 50 years individual countries and international agencies have given aid to third world countries to promote economic development, yet poverty still persists in many recipient nations. In recent years development economists and agencies have increasingly recognized the importance of institutions that support property rights and economic freedom in promoting development. Nevertheless, nations continue to provide aid to less developed countries. This raises two important questions. Does the receipt of aid lead to increases or decreases in economic freedom, and are increases in economic freedom rewarded with more aid or punished with reduced aid?
Topic:
Development, Economics, Government, and Poverty

4. Is Cybersecurity a Public Good? Evidence from the Financial Services Industry

Author:
Benjamin Powell
Publication Date:
03-2005
Content Type:
Working Paper
Institution:
Independent Institute
Abstract:
The September 11, 2001, terrorist attacks on the United States heightened concerns about vulnerabilities to future attacks. One new area of concern is cyberterrorism: the possibility of terrorists using computers to attack our critical infrastructure electronically. The government has made efforts to better secure its own computer networks to prevent terrorists from hacking into computer systems in the Pentagon, FBI, and other government agencies. Increasingly, however, the government has been concerned that the private sector is vulnerable to cyberterrorism. The private sector owns approximately 85 percent of the critical infrastructure in the U.S. (Deloitte 2004 p. 15). There are concerns that a cyber attack on dams, trains, electrical grids, pipeline pumps, communications networks, or the financial services industry could cause significant physical or economic damage to the U.S. The policy question being asked is whether private businesses, when left to their own devices, provide enough cybersecurity or if some form of government involvement is justified.
Topic:
International Relations, Development, Industrial Policy, and Science and Technology
Political Geography:
United States and United Nations