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    2018 North Carolina Tax Reform Summit

    The summit provided the opportunity to hear from both Republican and Democratic legislators, multi-state tax practitioners and leading academic researchers, as well as representatives from North Carolina businesses.


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October 17, 2018

Community Development Investment Workshop

The Kenan Institute is where UNC’s Kenan-Flagler Business School engages the world. We work with our affiliated centers, business leaders, and senior policymakers to stimulate innovative market solutions to vital economic issues. More
We translate insights from the academy into practice and policy. The Institute serves as a focal point for scholarly research, exploration of issues, and community outreach to advance the understanding of the private enterprise system. More
The Kenan Institute advances the understanding of entrepreneurship, economic development, and global commerce for the public good. We seek market-based solutions to economic challenges facing society. More

Recent News & Media

Researchers Challenge Status Quo on Economic Development

October 12, 2018

What’s best for a local economy—recruiting big, established companies, or nurturing home-grown startups? It’s a question economic developers and researchers have grappled with for decades. In a new white paper and Economic Development Quarterly article,Kenan Institute Senior Faculty Fellow Maryann Feldman and University of North Carolina at Chapel Hill professor Nichola Lowe offer a new tack: Try both. More

SmartUp Small Business Assistance Program Kicks Off in Elizabeth City

October 04, 2018

Elizabeth City’s newest jobs creation partnership set sail literally and figuratively on Friday, Sept. 28, as two Coast Guard search-and-rescue boats took participants on a brief tour of the city’s harbor before dropping them off for a panel discussion and luncheon at The Center at Arts of the Albemarle. More

Those Left Behind: Downtown Durham a Case Study for Questions of Equitable Growth and Prosperity (Part 2)

October 02, 2018

In our last post, we examined the history of how downtown Durham, North Carolina became one of the hottest destinations for people to live, work and play, and how that makeover is raising questions about economic equity, gentrification and displacement. In this post, we take a look at Durham’s future, and how local government and community leaders are working to address the issues surfaced by Durham’s transformation. More

Latest Research

Leverage Cycles in a Mature Asset Class: New Evidence from a Natural Laboratory

October 12, 2018

We model leverage cycles in the natural laboratory of a mature asset class, namely US Commercial Real Estate. In this setting we can observe entrepreneurs' asset values as well as debt balance and thus model capital-market yields, as conditioned by market-wide leverage, which indicates debt availability. Using a VAR framework, we examine variance decompositions and impulse-response functions. We show that leverage constitutes the primary driver of innovations in capital-market yields and vice versa. We further find evidence for flight to quality as well as knock-on effects that affect low-leverage entrepreneurs in the market. More

Working Paper