Selling City Futures: The Financialization of Urban Redevelopment Policy

By Rachel Weber. 2010

420 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/0848e119b22b9ba5ee20eb54c3b75d1885a990e7

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

In Finance

Citations in the corpus

Financialization of the Economy (2015, background): “…of dollars from global investors by bundling and selling future property tax income, but this also subjected administrative decisions about urban redevelopment to the logic of investment and speculative thinking, causing an oversupply of space and a property bubble in the city (Weber 2010).”
Demolishing the Present to Sell off the Future? The Emergence of ‘Financialized Municipal Entrepreneurialism’ in London (2018, background): “…shrinking tax revenues (either by falling tax bases and/or legal limits on tax increases) and an existential need to engage in city ‘boosterism’, that the turn towards financialization has been noted, as city governments seek new ways to achieve public policy objectives (Weber 2010; Leitner 1990).”
How real estate became ‘just another asset class’: the financialization of the investment strategies of Dutch institutional investors (2017, background): “…investors pressure for financialization as ‘Income streams from a wide range of assets are converted into new investment products for dispersed investors through techniques that disaggregate and continually reassign ownership to allow for more and faster-paced exchanges’ (Weber, 2010, p. 252).”
Commodification and housing market cycles in Chinese cities (2015, background): “Although the empirical evidence about the 1980s building boom in the USA does not support the claim that capital switching occurred (Beauregard, 1994), recent studies have begun to demonstrate the mechanism of converting home ownership into a financial asset, which may absorb surplus capital (Aalber”
Land financialisation and the financing of urban development in China (2019, background): “In this regard, few studies have specifically examined land from the perspective of financialisation (e.g. Aalbers 2016a, Theurillat, Vera-Büchel, & Crevoisier, 2016; Weber, 2010).”
Developing by borrowing? Inter-jurisdictional competition, land finance and local debt accumulation in China (2017, background): “The financialisation of urban development has provided a large amount of capital for infrastructure development, however the new financial instruments can also jeopardise the sustainable development of cities (Weber, 2010).”
The de-contextualisation of land use planning through financialisation: Urban redevelopment in Milan (2016, background): “They aim to stimulate economic growth by enhancing the capacity to extract value from urban sites (Taşan-Kok, 2007; Turok, 1992; Weber, 2010).”
The financialisation of rental housing: A comparative analysis of New York City and Berlin (2016, background): “To attract and retain capital, city and state governments often promote growth-oriented strategies that actively invite financial actors’ participation in local urban contexts (Weber, 2010).”
Reconstituting the state: City powers and exposures in Chicago’s infrastructure leases (2016, background): “Localities do not merely respond to infrastructure lease offers from global investment banks, but build and operate complex frameworks to enable the realisation of value from financialised municipal assets (Weber, 2010).”
Land Financialization as a ‘lived’ process: The transformation of Milan’s Bicocca by Pirelli (2016, background): “…as structured through the dynamics of the urban rent gap map (Hammel, 1999; Lees et al., 2008; Smith, 1996; Uitermark and Loopmans, 2012; Weber, 2010), or the importance of institutional changes in urban governance regimes that turned declining industrial sites into trendy business…”
Municipal statecraft (2018, background): “…operations by ‘devising new ways to monetize their own assets and create new securities . . . turn [ing] income streams from their existing and future tax bases, infrastructure, and pension funds into fungible securities and help[ing] build secondary markets for their exchange’ (Weber, 2010: 270).”
The limits to financialization (2015, background): “, 2010) or, alternatively, in terms of land (Kaika and Ruggiero, 2013), home (Aalbers, 2008), or urban redevelopment processes (Rutland, 2010; Weber, 2010).”
Building cities on financial assets: The financialisation of property markets and its implications for city governments in the Paris city-region (2016, background): “While States are admittedly involved in this intertwining of financial markets and the built environment (Gotham, 2006), more research on the “recent processes of financialization from the perspective of city governments” (Weber, 2010, p. 256) is required.”