Abstract
A key objective of the Commercial Local Urban Districts (CLUD) project is to explore different ways in which local economic activity can serve as a catalyst for urban regeneration. One approach to realizing this objective is to examine the linkages between local commercial activity and the broader urban environment, including various types of public private partnerships and their role in fostering local economic development (Weissbourd and Bodini, 2005). In particular, it is widely accepted among economists that a healthy commercial sector depends, among other things, on a reliable system for the creation and distribution of credit. One of the questions motivating the research agenda of CLUDs is whether or not it is possible to devise economic growth strategies centered on local and regional initiatives rather than on global and national ones. The reason for emphasizing local and regional economic growth strategies is that the overall goal of CLUDs is to explore new tools for local urban regeneration broad enough to be applied in a variety of cultural and historical milieus, yet sensitive enough to capture the unique qualities of different locales.
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