From capital landing to urban anchoring: The negotiated City
| Abstract |
This article proposes three ideal types of ‘anchoring of finance
capital into the city’, i.e. the way in which capital, as it is
valued in financial markets, is transformed into real capital and
vice versa. Some contexts will allow market finance s visions of
the city to become reality without great alteration, and this
produces the ‘financialised city’. In this case, the value of the
city corresponds to trading on the financial markets and largely
depends on the financial operators’ comparative and mimetic
criteria. Second, the ‘entrepreneurial city’ corresponds to a
tangible and localised vision of the city, outside the trading
rooms. This requires interactions between intermediary and allied
actors so that urban value can be translated into real profits and
tangible urban objectives while mobilising market finance. Third,
some contexts may promote debate, the creation of interdependencies
and the genesis of multiple externalities, particularly around major
urban development projects. This is what we call the ‘negotiated
city’. Here, urban value depends much more directly, and more
exclusively, on more or less complementary interactions between
local and non-local actors, users, consumers, public actors,
tourists, etc. |
| Keywords |
anchoring of capital, financialisation, negotiated city, urban value, valuation |
| Citation | Theurillat, T., Vera Büchel, N., & Crevoisier, O. (2016). From capital landing to urban anchoring: The negotiated City. Urban Studies(Special issue: Financialisation and the production of urban space), 1-10. |
| Type | Journal article (English) |
| Date of appearance | 1-2-2016 |
| Journal | Urban Studies |
| Issue | Special issue: Financialisation and the production of urban space |
| Pages | 1-10 |
| URL | http://usj.sagepub.com/cgi/reprint/0042098016630482v1.pdf... |
| Related project | ComplexDesign : module de recherche en socio-économie |