This report was written out of a recognition that there has been little effort to systematically examine the value to anchor institutions of engaging in significant community investment. In the absence of such research, the authors believe that institutions tend to overestimate the costs and risks and underappreciate the potential benefits. In…

Drawing on Kaufman's distinction between development in the community and development of the community, this paper discusses the constraints on local economic development associated with increased concentration of capital. The likelihood of successfully employing "import substitution" and other localization strategies without confronting issues of…