2021
DOI: 10.1016/j.progress.2020.100513
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Financing urban development, three business models: Johannesburg, Shanghai and London

Abstract: Highlights The paper compares three large-scale urban developments: Lingang, Shanghai, Corridors of Freedom, Johannesburg, and Old Oak Park Royal, London. The comparative analysis assesses the different business models - institutional arrangements, sources of financing - enabling each development. All were cross-jurisdictional and long-term projects, requiring institutional innovation and assembling of an array of transcalar actors. The … Show more

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Cited by 40 publications
(45 citation statements)
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“…Another approach situates urban China in comparative perspective, evaluating urban development financing in Shanghai in relation to Johannesburg and London (Robinson et al, 2020). In their selection of large-scale, long-term, multi-jurisdictional urban developments that entail transnational and trans-scalar governance, Robinson, Harrison, Shen and Wu place the three cities as equal partners in theorization.…”
Section: Exceptionalismmentioning
confidence: 99%
“…Another approach situates urban China in comparative perspective, evaluating urban development financing in Shanghai in relation to Johannesburg and London (Robinson et al, 2020). In their selection of large-scale, long-term, multi-jurisdictional urban developments that entail transnational and trans-scalar governance, Robinson, Harrison, Shen and Wu place the three cities as equal partners in theorization.…”
Section: Exceptionalismmentioning
confidence: 99%
“…In practice, it appears that many of these operations require private funding. The role of the state is often one of facilitator rather than one of developer, even in centrally planned contexts (Robinson et al 2020). This has a direct effect on value-capture mechanisms associated with these operations, their impact on housing affordability and the final design of urban areas (provision of green spaces, privatisation of public areas, etc.…”
Section: Process: Soft Versus Hard Urban Densificationmentioning
confidence: 99%
“…That is, the main driver of transnational partnerships is the multinational corporation, state-owned enterprises (SOE) in the hierarchical partnership mode or private enterprises in the spontaneous partnership mode, which 'goes abroad' in order to search for more 'efficient' factors of production, and (or) to embed into the local or springboard markets. However, it is needed in practice that coordinating a multiplicity of institutional actors and sustaining development in the face of changing institutional, political, policy and economic challenges (Robinson et al, 2020). As for the hybrid partnership mode, combining both the advantages of state-geared policies and private entrepreneurship, it has proved salient and should be embraced as crucial for territorially embedding investments in host countries.…”
Section: Assembling These Cases Of Transnational Zone Networkmentioning
confidence: 99%