An Introduction to Charter Cities
What are Charter Cities? Why do they matter? What can we learn from contemporary cities?
What is a Charter City?
As the successes of Singapore, Hong Kong, Shenzhen, and Dubai illustrate, by improving governance, it’s possible for cities to achieve prosperity more quickly than ever before. Inspired by such success, charter cities offer a set of policy reforms for new cities to create the institutions required for sustained economic growth.
Why?
Decades of research have shown that sustained economic growth is the primary determinant of a country’s standard of living. Economic growth, however, requires access to well-functioning institutions. Improving institutions is the most effective way to lift people out of poverty.
Charter cities are a public policy tool to help emerging markets develop the institutions that can serve as the foundation for economic success. They allow countries to experiment with new policies designed to attract business, foster economic growth, create jobs, empower small business, and support historically disadvantaged groups. By fostering an innovation-friendly environment, charter cities enable better institutions and economic growth.
“Charter cities are simultaneously political projects and business proposals.”
Founder and Executive Director Dr. Mark Lutter
Singapore, Shenzhen, Hong Kong, and Dubai, despite pursuing different developmental strategies, all demonstrate that it’s possible for cities to grow from impoverished to world-class cities in two to three generations. The rapid development of these cities has lifted 800 million people out of poverty. It is this stunning success which has inspired the Charter Cities Institute to replicate their development models.
Giving historically legally isolated communities access to better laws is a necessity for long term economic development. Charter cities provide their residents with access to sustainable and efficient legal systems. This makes it easier for them to start businesses, removes barriers to entry, and protects them from corruption and discrimination.
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