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Financing the city. City transfers under financial stress

Financer la ville. Les mutations de la ville sous contrainte financière

Financiar la ciudad. Los cambios de la ciudad condicionados por razones financieras

Revue « Espaces et sociétés »

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Published on Tuesday, April 19, 2016 by João Fernandes

Summary

Funding for the city has been the subject of much attention over the last 15 years. The rise of institutional investors around the pan-securitization of real estate, and the development of private public partnerships in a context of shrinking public resources are phenomena that have overturned ways of doing things. This issue does not aim to analyze new models of financing urbanization as such, but to study the consequences. Several lines of work can be evoked which are all supported by the analysis of social and spatial effects of the ways of funding the city today: the effects of globalized city funding, concentration of players, modes of financing and the standardization of products, the development of new forms of public-private partnership and logical investment locations, the transitional funding arrangements for more sustainable cities or competitive cities through major partnership operations, are questions that can be addressed.

Announcement

Argument

Municipal funding was the subject of much attention over the last 15 years. The decline of public resources and mobilization of private funding in multiple forms have overturned many practices. Debates on the financialisation of the city also illustrate an underlying trend away from the Keynesian model of development. In a world characterized by a liquidity surplus, cities – or at least some of them – attract strong interest from investors looking for safe investments. The rise of institutional investors, the securitization of real estate, and development of private public partnerships in a context of shrinking public resources are phenomena that have progressively upset the ways that things have been done.

This issue does not aim to analyze new models of financing urbanization as such, but to study the consequences. Several lines of work can be evoked which are all supported by the analysis of social and spatial effects of the ways to fund development in the city today:

- A reflection on the relationship between the local roots of a real estate project and the globalized logic of finance. To what extent can the characteristics of a place or its possibilities of endogenous development really be considered by the modes of production of cities that fall under globalized logic?

- A reflection on the concentration of actors, financing arrangements and the standardization of products. What are the effects of strategies designed to avoid risk, please the greatest number of potential investors and generate economies of scale?

- The development of new forms of public-private partnerships and their impact on the production of the city. How to finance large public facilities that are insufficiently profitable – transportation, urban networks... – to wit, even more diffuse forms of urbanization in a context of reduced public spending?

- A reflection on the logics of investment locations in dynamic urban centres seen as safe investments and to the risk of a widening gap with unattractive spaces. That is, do States and local authorities have effective tools to ensure minimum territorial solidarity in a market economy?

- The sustainable city, under urban renewal, mixed in its uses and audiences, with its wealth of amenities, green and connected, is expensive. What are the consequences of these new urban models that come to undermine decades of development on the outskirts of cities with easily accessible financing on land with the cost of this sprawl borne by the inhabitants ?

- A reflection on the types of products preferred in the search for higher returns. How does the globalized and/or national financial logic of specific aid policies (corporate real estate, shopping centres and tax-free goods mainly) conflict with the need to meet more differentiated demands?

- The development of standards, labels and indicators that put towns and operations in competition against eachother by allowing their comparison on questionable bases because decontextualized and often subjective. How do these new practices lead to redefining the strategies of investors, public and private?

- A final question will concern the frameworks of observable mutations. Can we identify forms of marginalization and/or resistance to patterns of production in the city vis-à-vis private financing methods?

Coordination

  • Jérôme Dubois
  • Catherine Bidou

Calendar

  • 1 October 2016: deadline for submitting articles

  • November 15, 2016 : Information authors

Adress for correspondence

Exclusively electronically by email to the following addresses:

  • j.dubois.iar@wanadoo.fr
  • catherine.bidou@orange.fr

Authors with questions concerning the relevance of their proposal can contact the coordinators

Warning:

- The review does not want proposals for articles but the articles directly,

- Articles should not exceed 42 000 characters (including spaces) including: text, notes, references, appendices, but excluding abstracts.

- Advice to authors appear in each issue.

-  The standards of presentation and advice to authors
are available on the website of the journal:

http://www.espacesetsocietes.msh-paris.fr/conseils.html

- The review notes that at any time authors may submit articles 'hors dossier', outside of the themes of the issues on the topics of relationship between spaces, territories and populations broadly understood and meeting publication standards; if accepted, these articles are published quickly.

Date(s)

  • Saturday, October 01, 2016

Keywords

  • financement de la ville, partenariat public privé, développement urbain, financiarisation, ville négociée

Reference Urls

Information source

  • Anne de Reyniès
    courriel : espacesetsocietes [at] msh-paris [dot] fr

To cite this announcement

« Financing the city. City transfers under financial stress », Call for papers, Calenda, Published on Tuesday, April 19, 2016, https://calenda.org/364123

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