PUBLIC DEVELOPMENT OF INDUSTRIAL ESTATES IN THE NETHERLANDS:UNDESIRED MARKET OUTCOMES AND POLICY INTERVENTIONS

摘要

The Dutch market for industrial estates is dominated by municipalities who have always feltresponsible for supplying sufficient industrial sites at all times. As a result, a number of undesiredmarket outcomes have occurred in this market, including oversupply of land and a high rate ofdeteriorating industrial estates. Policy interventions have been announced that must improvemarket outcomes. This paper analyses those undesired market outcomes and compares them withdevelopment processes in other European countries. We will argue that the effectiveness of thepresent set of interventions – all meant to adjust the present institutional order – can be improved,when they are accompanied by interventions meant to restructure this institutional order. Thelatter set of interventions, based on recent Coasian planning literature, includes the pricing ofexternalities, reduction of the rights of municipalities to develop industrial estates and a changeof the conditions in industrial properties tenancy contracts.