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La ville négociée : entre financiarisation et durabilité

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  • Thierry Theurillat

Abstract

The aim of this article is to develop a conceptual, analytical and interpretative framework to address the relationship between “finance, city and sustainability” that has been little studied in urban geography. To give answers to the impact of market finance on the built environment and on a city’s production from the sustainability angle, we propose the model of negotiated city for further research in urban geography. We are developing the theory that at present a new role is emerging for specialized actors in the development and construction of urban projects. Having the competences and being at the centre of the market network for financialised urban projects, the developers are becoming some «anchoring» actors capable of negotiating on one side the anchoring of capital in a local context with global investors and on the other some sustainability issues with the local society. This framework comes from the linking of three research fields with urban geography and from a case study of producing new urban complexes that are owned by financial actors in Switzerland.

Suggested Citation

  • Thierry Theurillat, 2011. "La ville négociée : entre financiarisation et durabilité," Géographie, économie, société, Lavoisier, vol. 13(3), pages 225-254.
  • Handle: RePEc:cai:geslav:ges_133_0225
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    References listed on IDEAS

    as
    1. José Corpataux & Olivier Crevoisier & Thierry Theurillat, 2009. "The Expansion of the Finance Industry and Its Impact on the Economy: A Territorial Approach Based on Swiss Pension Funds," Economic Geography, Clark University, vol. 85(3), pages 313-334, July.
    2. Georg Inderst, 2009. "Pension Fund Investment in Infrastructure," OECD Working Papers on Insurance and Private Pensions 32, OECD Publishing.
    3. Alastair Adair & Jim Berry & Stanley McGreal & Norman Hutchison & Craig Watkins & Kenneth Gibb, 2003. "Urban regeneration and property investment performance," Journal of Property Research, Taylor & Francis Journals, vol. 20(4), pages 371-386, December.
    4. Simon Guy & John Henneberry & Steven Rowley, 2002. "Development Cultures and Urban Regeneration," Urban Studies, Urban Studies Journal Limited, vol. 39(7), pages 1181-1196, June.
    5. repec:nct:journl:v:85:y:2009:i:3:p:313-334 is not listed on IDEAS
    6. José Corpataux & Olivier Crevoisier & Thierry Theurillat, "undated". "The Expansion of the Finance Industry and Its Impact on the Economy: A Territorial Approach Based on Swiss Pension Funds," GRET Journal Papers 07-09, GRET Group of Research in Territorial Economy, University of Neuchâtel.
    7. José Corpataux & Olivier Crevoisier, 2005. "Increased Capital Mobility/Liquidity and its Repercussions at Regional Level," GRET Publications and Working Papers 10-05, GRET Group of Research in Territorial Economy, University of Neuchâtel.
    8. Camagni, Roberto & Gibelli, Maria Cristina & Rigamonti, Paolo, 2002. "Urban mobility and urban form: the social and environmental costs of different patterns of urban expansion," Ecological Economics, Elsevier, vol. 40(2), pages 199-216, February.
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    Cited by:

    1. Thierry Theurillat & Pierre-Yves Donzé, 2015. "Retail Networks and Real Estate: the case of Swiss luxury watches in China and Southeast," Discussion Papers in Economics and Business 15-28, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).
    2. Nappi-Choulet, Ingrid & Décamps, Aurélien, 2011. "Is Sustainability Attractive for Corporate Real Estate Decisions ?," ESSEC Working Papers WP1106, ESSEC Research Center, ESSEC Business School.
    3. Emmanuel Trouillard, 2014. "Territorial anchorage of serviced residences in the Paris region (Île-de-France) : a geography of financialized real-estate products?
      [L'ancrage territorial des résidences avec services privées en
      ," Post-Print hal-01312429, HAL.

    More about this item

    Keywords

    financialization; institutional investors; sustainable city; neoliberal city; negotiated city; capital liquidity/mobility and anchorage; anchoring actors;

    JEL classification:

    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • G1 - Financial Economics - - General Financial Markets
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R51 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Finance in Urban and Rural Economies

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