Abstract
In this article, the economic impact of local growth management policy is examined based upon a market model of local demand for growth. This model provides the foundation for this inquiry and also a general theoretical framework to integrate previous analysis of residential growth and growth management with studies of economic development. The core assumption of this model is that local growth management actions have adverse consequences for economic growth, particularly for local housing markets. After reviewing the evidence regarding the economic consequences of growth management, a pooled time series regression technique was used to test this assumption by examining the effects of the implementation of Florida's Growth Management Act (GMA) on residential housing development from 1986 to 1991. The results suggest a negative relationship between growth management and development.
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