Chapter 6: Sell, hold or buy? Privatising, managing, owning and acquiring city infrastructure assets
Within international debates about public asset ownership, management, governance and privatisation, financialisation, decentralisation and austerity are compelling national and local state actors into more “commercial” statecraft in an ongoing and pressing search to generate new capital and revenue resources. This uneven financialising of city statecraft has opened up channels for the entry and influence of financial actors with new relations, market incentives and financial practices. Yet, city government agency is provoking national government and financial actor concerns about risk taking, speculation and competition for assets using relatively low interest rate UK state-backed funds. City statecraft involves a socially and spatially uneven range of strategies, rationales, asset definitions, institutional models and practices. Mixing managerialism, entrepreneurialism and financialism, city statecraft is wrestling with the speculative leverage as well as long-term ownership and management of urban infrastructure assets in UK cities. Uneven geographies of public wealth are the result.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.