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Although a high rate of urbanization and a high incidence of rural poverty are two distinct features of many developing countries, there is little knowledge of the effects of the former on the latter. Using a large sample of Indian districts from the 1983-1999 period, the authors find that urbanization has a substantial and systematic poverty-reducing effect in the surrounding rural areas. The results obtained through an instrumental variable estimation suggest that this effect is causal in nature and is largely attributable to the positive spillovers of urbanization on the rural economy rather than to the movement of the rural poor to urban areas. This rural poverty-reducing effect of urbanization is primarily explained by increased demand for local agricultural products and, to a lesser extent, by urban-rural remittances, the rural land/population ratio, and rural nonfarm employment.

Achieving Shared Growth --- Districts --- Finance and Financial Sector Development --- Macroeconomics and Economic Growth --- Population Policies --- Regional Economic Development --- Rural poverty --- Rural Poverty Reduction --- Urbanization --- India

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Start-up firms play a crucial role in bringing to the market the innovations needed to move to a greener growth path. Risk finance is essential for allowing new ventures to commercialise new ideas and grow, especially in emerging sectors. Still, very little is known about the drivers and the characteristics of risk finance in the green sector. This paper aims to fill this gap by providing a detailed description of risk finance in the green sector across 29 OECD and BRIICS countries over the period 2005-2010 and identifying the role that policies might have in shaping high-growth investments in this sector. Results are drawn from a comprehensive deal-level database of businesses seeking financing in the green industry combined with indicators of renewable policies and government R&D expenditures. The results suggest that both supply-side policies and environmental deployment policies, designed with a long-term perspective of creating a market for environmental technologies, are associated with higher levels of risk finance relative to more short-term fiscal policies, such as tax incentives and rebates. In addition, when focusing on renewable energy generation, the results confirm the positive association of generous feed-in tariffs (FITs) with risk-finance investment. However in the solar sector excessively generous FITs tend to discourage investment.

Environment --- Finance and Investment --- Science and Technology

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Art --- Environmental planning --- comprehensive plans [reports] --- art [discipline] --- Nature --- political art --- architecture [object genre] --- climate change