1896-0200 The examination of the sustainability of brownfield investments paying special attention to public policies and EU support Hegyi-Kéri Ágnes author Miskolci Egyetem 038g7dk46 Correspondence to: Ágnes Hegyi-Kéri 10 09 2012 Numer 2 (18) 2012 21 31 Copyright © 2012 2012 <p>According to the economics of welfare the need (or necessity) for state intervention starts when people experience market failures [Pigou, 1920], the goal and reason for state intervention is usually to develop the welfare of people. Studies of actual state interventions show that not only the market but state interventions can fail as well [Wolf, 1988].<br />The rehabilitation and revitalization of the unused industrial sites represent new development possibilities and a serious challenge to public policies. The question is how to minimize the cost of industrial changes, when industry has lost its function in some areas and it had a negative effect on people.<br />In my study I will try to show the value of the effect and success of these policies without which economic growth is impossible, and which make brown field investments sustainable. In my opinion rehabilitation requires an interdisciplinary approach and one need to pay special attention to the rule of the local and country governance, and the ways of redistribution and financial support both from the European Union and the national state. For long term sustainability it is essential to avert the environmental damage, but without any government help it will not be successful and sustainable.</p> 1 Babock L., Benedict M.E., Engberg J. (1998), Pittsburgh Labor Market Adjustments in 1980s: Who Gained and Who Lost?, “Journal of Urban Affairs”, vol. 20, no 1, pp. 53–68. 2 Ballabás G. (2009), Examples of the Pressures of the Industry in the Central Transdanubia (NUTS-2 Region in Hungary) after 2000 (Summary), XIV. Hungarian-Croatian and II. Budapest–Miskolc–Mostar–Zagreb Geographical Colloquium; Salgótarján 2009, szept. 4–7. 3 Biczó G. (2011), The Lack of Sociocultural Aspects in Brownfield Developments in Hungary, under edition, working paper. 4 Bielecka M., Król-Korczak J. (2010), Hybrid Expert System Aiding Design of Post-mining Regions Restoration, “Ecological Engineering”, online journal, 2010, vol. 36 iss. 10, pp. 1232–1241, www. elsevier.com/locate/ecoleng. 5 Dick G.J., Andersson A., Baker B.J., Simmons S.S., Thomas B.C., Yelton A.P., Banfield J.F. (2009), Community-wide Analysis of Microbial Genome Sequence Signatures, “Genome Biology”, vol. 10. 6 Dixon T., Raco M., Catney P. (2007), Sustainable Brownfield Regeneration, Liveable Places from Problem Spaces, Oxford, Blackwell. 7 Enyedi G. (1998), Transformation in Central European Postsocialist Cities, [in:] “Discussion Papers”, L. Hrubi (ed.), no. 21, Centre for Regional Studies, Pécs. 8 Lux G. (2010), Central Europe’s Industrial Spaces: Path-Dependent upgrading or radical restructing?, Draft paper submitted for the 2010 Regional Studies Association conference “Regional Responses and Global Shifts”, 24–26 May 2010, Pécs. 9 Pigou A. (1920), The Economics of Welfare, Macmillan, London. 10 Szalavetz A. (2003), European Policy Lessons in the Process of Regional Transformation in Hungary, [in:] M. Steiner (ed.), From Old Industries to New Regions. Policies for Structural Transformation in Accession Countries, Leykam, Graz, pp. 179–196. 11 Takács Z. (2004), An International Perspective, [in:] J. Tóth (ed.), Economy Situation of the Northern Hungarian Region, Kopint-Datorg, Budapest, pp. 13–26. 12 Thirlwall A.P. (2003), Development Theory and the Economics of Growth: By Jamie Ros (Ann Arbor: University of Michigan Press, 2000, p. 429), “Journal of Development Economics”, vol. 70(2), Elsevier, pp. 559–562. 13 Wilson J.Q., Kelling G.L. (1982), The Police and Neighbourhood Safety: Broken Windows, “Atlantic Monthly”, vol. 127. 14 Wirth L. (1928), The Ghetto, New Brunswick, NJ. 15 Wolf Ch. (1988), Markets or Governments. Choosing between Imperfect Alternatives, MIT Press, Cambridge, Mass., London. 16 Wright J.G. (1997), Risks and Rewards of Brownfield Redevelopment, Lincoln Institute of Land Policy, Policy Focus Report, Cambridge, Mass.