Smart Funding Options for Developing Smart Cities: A Proposal for India

Vadgama, Chintan Vadgama; Khutwad, Aditi; Damle, Madhavi; Patil, Sunil A.

doi:10.17485/ijst/2015/v8i1/85418

Cited by 11 publications

(6 citation statements)

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“…Appendix A provides more detailed information about the 56 studies including country/initiative studied, method of the study and the aims/objectives of the study. Geographical locations (country/continent) of the included studies by descending order (based on the number of studies identified) India [28,[32][33][34][35][36][37][38][39][40][41][42][43][44][67][68][69][70]79] China [45][46][47][48][49][50][51][52][53]71,76,80] Indonesia [54][55][56][57] Brazil [3,58,72] Malaysia [59][60][61] Vietnam [62,73] Mexico [63] Turkey [78] Egypt [81] Romania [64] Nepal [65] ...…”

Section: Study Contexts and Characteristicsmentioning

confidence: 99%

“…The financing capacity of the government is arguably one of the most pivotal engines of the smart city. Developing countries have a higher propensity to be budget constrained and thus require a wide range of conventional and innovative financing instruments to beef up capital investments in developing smart cities [35,36,53]. In India, land-based financing instruments (i.e., property tax, vacant land tax, development impact fees, and betterment charges), congestion charging instruments (i.e., fuel taxes, motor vehicle taxes, and highway tolls), and debt-financing have been proposed as the ideal mix for the government in financing smart cities [35].…”

Section: Financing Capacity Of the Governmentmentioning

confidence: 99%

“…In India, land-based financing instruments (i.e., property tax, vacant land tax, development impact fees, and betterment charges), congestion charging instruments (i.e., fuel taxes, motor vehicle taxes, and highway tolls), and debt-financing have been proposed as the ideal mix for the government in financing smart cities [35]. Other innovative financing instruments proposed are crowdfunding, earmarking government funding, monetising the big data collected, carbon offset, and creating smart government bonds [36]. China's experience in developing the International Low-Carbon City in Shenzhen has also seen the deployment of a wide range of innovative instruments [53].…”

Section: Financing Capacity Of the Governmentmentioning

confidence: 99%

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Smart City Governance in Developing Countries: A Systematic Literature Review

2020

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Smart cities that make broad use of digital technologies have been touted as possible solutions for the population pressures faced by many cities in developing countries and may help meet the rising demand for services and infrastructure. Nevertheless, the high financial cost involved in infrastructure maintenance, the substantial size of the informal economies, and various governance challenges are curtailing government idealism regarding smart cities. This review examines the state of smart city development in developing countries, which includes understanding the conceptualisations, motivations, and unique drivers behind (and barriers to) smarty city development. A total of 56 studies were identified from a systematic literature review from an initial pool of 3928 social sciences literature identified from two academic databases. Data were analysed using thematic synthesis and thematic analysis. The review found that technologyenabled smart cities in developing countries can only be realised when concurrent socioeconomic, human, legal, and regulatory reforms are instituted. Governments need to step up their efforts to fulfil the basic infrastructure needs of citizens, raise more revenue, construct clear regulatory frameworks to mitigate the technological risks involved, develop human capital, ensure digital inclusivity, and promote environmental sustainability. A supportive ecosystem that encourages citizen participation, nurtures start-ups, and promotes public-private partnerships needs to be created to realise their smart city vision.

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Section: Study Contexts and Characteristicsmentioning

confidence: 99%

Section: Financing Capacity Of the Governmentmentioning

confidence: 99%

Section: Financing Capacity Of the Governmentmentioning

confidence: 99%

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Smart City Governance in Developing Countries: A Systematic Literature Review

2020

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“…The second latent variable that emerged from the SEM analysis was named optimization and smart technologies included four factors: appropriate capital structure and collaterals, smart asset management, diffusion of smart technologies and technical innovation. There was an obvious influence of the innovation diffusion theory in modifying this cluster, which focuses on the study of how, why and at what rate innovative ideas and technologies spread in a social system (Wani and Ali, 2015).…”

Section: Resultsmentioning

confidence: 99%

“…City redevelopment model: Replace existing infrastructure with new infrastructure that meets the needs of the future. City extension model: determine the city's potential urban extension trends and then support current infrastructure in these directions to accommodate this potential future extension, which will have a significant impact on lowering the total cost of potential urban extension phases, beginning with planning, implementation and maintenance (Selim and ElGohary, 2020;Vadgama et al, 2015).…”

Section: Literature Reviewmentioning

confidence: 99%

The value for money factors and their interrelationships for smart city public–private partnerships projects

Almarri

2022

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Purpose The amount of expenditure required to scale up smart infrastructure projects is often enormous. Public–private partnership (PPP) is one of the proposed and viable solutions for addressing the financial issues of smart infrastructure projects. However, the most important criterion in choosing PPP over other procurement methods is that the project under the PPP method should deliver the best value for money (VFM) while also including defined economic and social objectives, rather than relying exclusively on efficiency factors. While PPP provides a variety of advantages for developing infrastructure, significant challenges may arise as a result of smart infrastructure initiatives. Diverse PPP approaches have been used to build smart infrastructure around the world, with varying degrees of success. The purpose of this study is to identify the VFM factors that are suitable for smart infrastructure projects and to examine the impact of their interrelationships. Design/methodology/approach The methodology for this study consisted of three stages: identifying VFM factors in PPP for smart cities based on an extensive literature review, analyzing data from a sample of 90 PPP practitioners using a Likert scale questionnaire and estimating interrelationships among VFM factors using structural equation modeling (SEM). Findings After performing a SEM analysis on the gathered data, the best fitted measurement model consisted of 11 VFM factors acting as indicators of three latent variables for smart infrastructure projects (clear output specification for measuring performance, efficient dispute resolutions, optimized risk allocation and business models, improved and integrated community services, economic sustainability, appropriate capital structure and collaterals, smart asset management, diffusion of smart technologies, technical innovation, Ince) and three clusters of their interrelations (economic sustainability, integration drive, optimization and smart technology). Practical implications This research has resulted in a useful and readily applicable list of factors and clusters of value for money criteria for the implementation of PPP in smart infrastructure projects, assisting public sector management by providing a measure of pre-conditions that can be used as an assessment tool when determining whether a PPP should be used instead of conventional methods. Originality/value In addition to the theoretical and methodological contributions, this study produced a usable and readily adaptable list and clusters of value for money factors for the implementation of PPP in smart infrastructure projects.

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Applications of Fuzzy Graph Structures for the Analysis of India’s Growth of Smart Cities: A Systematic Review

Angel

2021

Intelligent Sustainable Systems

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Smart Funding Options for Developing Smart Cities: A Proposal for India

Cited by 11 publications

References 0 publications

Smart City Governance in Developing Countries: A Systematic Literature Review

Smart City Governance in Developing Countries: A Systematic Literature Review

The value for money factors and their interrelationships for smart city public–private partnerships projects

Applications of Fuzzy Graph Structures for the Analysis of India’s Growth of Smart Cities: A Systematic Review

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