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Financialisation of Built Environments: A Literature Review

Clark, Eric LU ; Larsen, Henrik Gutzon LU and Lund Hansen, Anders LU (2015) In FESSUD Working Paper Series 114.
Abstract
This paper provides a review of research into financialisation of built environments, especially in relation to urban politics, social geographies and sustainability. Focus is limited here to the theoretical and conceptual substance of selected literature. Financialisation is conceptualised as a profoundly spatial process, forging social relations that form conditions for urban governance, social geographic change and urban sustainability. The paper frames financialisation of built environments as a process enmeshed with related processes of commodification, privatisation, neoliberalisation, and accumulation by dispossession, associated with the creation and appropriation of rent gaps. Land rent and rent gaps are highlighted as central to... (More)
This paper provides a review of research into financialisation of built environments, especially in relation to urban politics, social geographies and sustainability. Focus is limited here to the theoretical and conceptual substance of selected literature. Financialisation is conceptualised as a profoundly spatial process, forging social relations that form conditions for urban governance, social geographic change and urban sustainability. The paper frames financialisation of built environments as a process enmeshed with related processes of commodification, privatisation, neoliberalisation, and accumulation by dispossession, associated with the creation and appropriation of rent gaps. Land rent and rent gaps are highlighted as central to understanding financialisation of built environments. We then review research into relations between financialisation of built environments and urban governance, i.e. how financialisation impacts upon, while being facilitated or deterred by, urban politics. This sets the stage for reviewing research into relations between financialisation of built environments and observed patterns of change in the social geographies of cities, and research into the sustainability implications of financialisation of built environments. Conclusions reconsider the nature of the relationship between financialisation and urbanisation, and the challenges of bringing financial systems into the service of achieving social and natural sustainability. (Less)
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author
organization
publishing date
type
Working Paper
publication status
published
subject
keywords
financialisation, built environment, urban governance, land rent, sustainability
in
FESSUD Working Paper Series
volume
114
pages
56 pages
publisher
FESSUD
ISSN
2052-8035
language
English
LU publication?
yes
id
06643fcc-4a87-4f95-8eea-f688f7ba30c4
alternative location
http://fessud.eu/wp-content/uploads/2015/03/Financilisation-of-the-built-environment-A-literature-review-working-paper-114.pdf
date added to LUP
2016-05-16 12:24:18
date last changed
2016-05-16 14:31:11
@misc{06643fcc-4a87-4f95-8eea-f688f7ba30c4,
  abstract     = {This paper provides a review of research into financialisation of built environments, especially in relation to urban politics, social geographies and sustainability. Focus is limited here to the theoretical and conceptual substance of selected literature. Financialisation is conceptualised as a profoundly spatial process, forging social relations that form conditions for urban governance, social geographic change and urban sustainability. The paper frames financialisation of built environments as a process enmeshed with related processes of commodification, privatisation, neoliberalisation, and accumulation by dispossession, associated with the creation and appropriation of rent gaps. Land rent and rent gaps are highlighted as central to understanding financialisation of built environments. We then review research into relations between financialisation of built environments and urban governance, i.e. how financialisation impacts upon, while being facilitated or deterred by, urban politics. This sets the stage for reviewing research into relations between financialisation of built environments and observed patterns of change in the social geographies of cities, and research into the sustainability implications of financialisation of built environments. Conclusions reconsider the nature of the relationship between financialisation and urbanisation, and the challenges of bringing financial systems into the service of achieving social and natural sustainability.},
  author       = {Clark, Eric and Larsen, Henrik Gutzon and Lund Hansen, Anders},
  issn         = {2052-8035},
  keyword      = {financialisation,built environment,urban governance,land rent,sustainability},
  language     = {eng},
  month        = {09},
  note         = {Working Paper},
  pages        = {56},
  publisher    = {FESSUD},
  series       = {FESSUD Working Paper Series},
  title        = {Financialisation of Built Environments: A Literature Review},
  volume       = {114},
  year         = {2015},
}