Governing the ‘ungovernable’? Financialisation and the governance of transport infrastructure in the London ‘global city-region’

O’Brien, Peter C.; Pike, Andy; Tomaney, John

doi:10.1016/j.progress.2018.02.001

Cited by 31 publications

(27 citation statements)

References 73 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…The literature has observed that urban development becomes more entangled with the financial market when using financial strategies (Sanfelici and Halbert, 2018;Theurillat et al, 2014), and extensive use of financial instruments can result in unexpected risks (O'Brien et al, 2018). Nevertheless, financial practices, impacts and risks should be understood in the institutional context (Christophers, 2019;Weber, 2010).…”

Section: Discussionmentioning

confidence: 99%

The development of local government financial vehicles in China: A case study of Jiaxing Chengtou

Zhang

2022

Land Use Policy

View full text Add to dashboard Cite

Financial intermediaries have been widely used in urban development. Since the global financial crisis, it has been an urgent task to understand their operation and implications for financial risks. This paper examines emerging local government financial vehicles (LGFVs) in China. We review their history, current status and underlying financial mechanisms. Confronting the global financial crisis, China has taken a stimulus plan to invest four-trillion Yuan in urban development to stimulate the economy. The plan has been largely fulfilled by the LGFVs. This paper investigates the case of Jiaxing City Construction Investment Corporation (Jiaxing Chengtou), which plays a role of LGFVs. We find that it mainly uses bank loans and bonds to finance land and infrastructure development. To borrow from the capital market, Jiaxing Chengtou collateralizes allocated stateowned land and enhances credits by build and transfer protocols with the city government. However, the enterprise did not manage to pay back its loans, which has led to further borrowing. Due to the central government's control, Jiaxing Chengtou has been nominally detached from the municipal government since 2012, but it maintains a financial role. It has been re-packaged with other LGFVs to access foreign bond markets. The paper reveals how LGFVs act as financial conduits to connect local governments with the financial market in China.

show abstract

Section: Discussionmentioning

confidence: 99%

The development of local government financial vehicles in China: A case study of Jiaxing Chengtou

Zhang

2022

Land Use Policy

View full text Add to dashboard Cite

show abstract

“…Reform to subnational economic governance has encouraged both new relationships and new practices amongst UK LAs. Adopting principles of state entrepreneurialism and spatial agglomeration, focus on stimulating the private sector and activating local assets to drive investment can be interpreted as a continued financialization of the governance process (Birch & Mykhnenko, 2014;O'Brien et al, 2018;Tallon, 2013). The form of this financialization, however, shows signs of adaptation, from sectoral transition toward internal asset utilization in line with context-based objectives of the government's Local Growth policy (2011).…”

Section: Discussionmentioning

confidence: 99%

Building regional ‘goodwill’: on the financialization of subnational economic governance

Salder

2020

Regional Studies, Regional Science

View full text Add to dashboard Cite

Subnational economic governance has witnessed ongoing transformation as part of what is argued as a financialization of the policy process. Within England, recent reform has seen two specific tendencies: a transformation attempting greater integration between industrial structure and subnational spaces; and more entrepreneurial practices incorporating businesses as key actors. Here, city-regional agglomeration models have been adopted to activate internal resource. This paper explores the effect of these changes on policy continuity amongst constituent parts of the city-region through the concept of goodwill. It focuses on the Greater Birmingham and Solihull region of the UK and its relationship with a constituent locality: Southern Staffordshire. It argues reform has redrawn the subnational map with greater sensitivity around industrial structure. Adapting modes of financializing the governance process, however, using city-regions' presumed benefits around competitiveness and efficiency, frame this sensitivity. A form of goodwill has thus emerged founded around compliance with orthodox city-regional interpretations, supplementing financial shortfalls yet reinforcing further space-policy separation.

show abstract

“…The increased demand and subsequent investment for road infrastructure have amassed globally [ 24 , 25 ]. Smith et al [ 24 ] report that roads are predicted to be the largest investment area in transport infrastructure for, at least, developing countries, in the 2014–2025 period.…”

Section: Introductionmentioning

confidence: 99%

Spatio-Temporal Patterns and Consequences of Road Kills: A Review

Aquino

Nkomo

2021

Animals

View full text Add to dashboard Cite

The development and expansion of road networks have profoundly impacted the natural landscape and various life forms. Animals are affected by these roads in a myriad of ways, none as devastating as road mortalities. This article reviews the literature on the magnitude, spatiotemporal patterns, factors, and consequences of Animal-Vehicle Collisions (AVCs) and the subsequent road kills. Furthermore, the review paper briefly outlines the relationship between roads and animals in the surrounding landscape and later examines the nature and impacts of AVCs. This article evaluates the statistics on the number of road kills and a critical analysis of the spatiotemporal patterns of these mortalities is also evaluated. Subsequently, the review paper examines current mitigation measures and the challenges impeding their success. The paper then concludes with an evaluation of geospatial tools (GIS) and other technologies used in road kill studies. The relevant findings of this paper are that,(1) factors influencing road kill patterns interact with one another; (2) AVCs have serious environmental, economic and social consequences; (3) road kill mitigation strategies suffer several challenges hindering their success; and (4) specific geospatial tools and other technologies have been utilised in assessing AVC road kill patterns. The review, therefore, recommends including overall road kill clusters of all animals in mortality surveys, increasing the spatial coverage of road kill observations, consistent surveying, sufficient research on nighttime driving distances and speed, utilising citizen science in all road mortality studies and incorporating GIS into all apps used for recording road kills. An increased sufficiency in road kill data coupled with improved technologies can enable more effective mitigation strategies to prevent AVCs.

show abstract

Governing the ‘ungovernable’? Financialisation and the governance of transport infrastructure in the London ‘global city-region’

Cited by 31 publications

References 73 publications

The development of local government financial vehicles in China: A case study of Jiaxing Chengtou

The development of local government financial vehicles in China: A case study of Jiaxing Chengtou

Building regional ‘goodwill’: on the financialization of subnational economic governance

Spatio-Temporal Patterns and Consequences of Road Kills: A Review

Contact Info

Product

Resources

About