This article explores the contingencies of financialisation and housing. More specifically, how the spatial and temporal dynamics of the UK housing market ensure that homeownership does not (and ...arguably cannot) deliver welfare provision in the way envisioned by asset-based welfare initiatives. The first section demonstrates the fundamental problem of conceptualising households as asset-holders; in particular, with regard to housing-based welfare strategies and as part of financialised growth strategies in the UK, more generally. We show that continuing to assume residential housing is a static and unchanging asset-class depoliticises how asset-based welfare intensifies household indebtedness. The second section demonstrates the temporal, spatial and social limits of homeownership in the UK. We argue that the financialisation of housing in the UK is a unique set of political and economic circumstances that cannot be repeated; therefore, current gains from residential housing are a one-off wealth windfall to particular (lucky) groups within society. The temporal and spatial limits of gains from residential housing mean that the same conditions cannot be repeated (often enough) in the way required for residential housing to provide a generalisable welfare function. Finally, the article concludes by suggesting the potential of new research that incorporates temporal, spatial and social contingencies of housing to demonstrate how financialisation materialises in everyday life.
This article examines the urban development of Moscow from 1992 to 2015, arguing that the city's recent transformation from grey asphalt jungle to a “city comfortable for life” is driven by a process ...of neoliberal restructuring. In particular, the study finds that a set of multi‐scalar dynamics—namely, the global financial crisis, the rise of a local protest movement, and an intensified rivalry between federal and Muscovite elites—were the key driving forces behind Moscow's current evolution. The work advances a conceptual framework of neoliberal urbanisation that enhances the literature on post‐socialist cities and, more generally, the broader debate on actually existing neoliberalism.
This article studies the development of Warsaw's Służewiec neighbourhood, Poland's largest business district, as a case of real estate financialization. We argue that the neighbourhood's chaotic ...‘de‐contextualized’ growth was shaped by Poland's semi‐peripheral position in the global economy on the one hand—enabling a process of subordinate financialization—and legacies of state socialism on the other. In so doing, we mobilize research on peripheral financialization and global economic hierarchies, and studies of post‐socialism to enhance debates about real estate financialization. Commercial real estate—and office development in particular—is a crucial domain in which contemporary core–periphery structures are produced and negotiated. A key function of subordinate financialization is to absorb globally mobile capital—the product of financialization in the core. The case of Służewiec shows that only by considering the interplay of global hierarchies (Poland's position as capital absorbent), local dynamics (fragmented urban development, which was characterized by competition among these unequal municipalities, with local growth coalitions in some municipalities, but not in others) and specific historical legacies (Warsaw's socialist‐time functional organization and its transformation, which weakened the city) can we fully understand the specific dynamics that shape real estate financialization in different places.
The article problematises the role of real estate in geopolitical circulations. The internationalisation of real estate increases mutual dependencies and vulnerabilities between nation states and, ...therefore, calls for a better appreciation of the geopolitical externalities and exteriorities of real estate. The article brings together disjoint bodies of literature on real estate globalisation, assemblage theory, and international relations to show how real estate is a case of the geopolitics of the multiple - geopolitics that is being assembled by diverse and distributed actors, discourses, and materialities representing the contingent and emergent formation of connections and considerations, which affect the ways how foreign relations are negotiated today. The argument is substantiated by considering several dimensions of the real estate/geopolitics nexus: (1) external influences over domestic real estate markets; (2) the implications of outward real estate investment; and (3) state-led mega-projects conveying externally the power of the state. These dimensions are considered empirically in the context of the renewed geopolitical tensions between a resurgent Russia and the West. Overall, the article calls for a better positioning of real estate in the conceptualisations of soft power, state power, and geopolitics.
Equity and REDD+ in the Media Di Gregorio, Monica; Brockhaus, Maria; Cronin, Tim ...
Ecology and society,
2013, Letnik:
18, Številka:
2
Journal Article
Recenzirano
Odprti dostop
Reducing emissions from deforestation and forest degradation (REDD+) is primarily a market-based mechanism for achieving the effective reduction of carbon emissions from forests. Increasingly, ...however, concerns are being raised about the implications of REDD+ for equity, including the importance of equity for achieving effective carbon emission reductions from forests. Equity is a multifaceted concept that is understood differently by different actors and at different scales, and public discourse helps determine which equity concerns reach the national policy agenda. Results from a comparative media analysis of REDD+ public discourse in four countries show that policy makers focus more on international than national equity concerns, and that they neglect both the need for increased participation in decision making and recognition of local and indigenous rights. To move from addressing the symptoms to addressing the causes of inequality in REDD+, policy actors need to address issues related to contextual equity, that is, the social and political root causes of inequality.
Abstract A new literature on housing and financialization has emerged in recent years, but scholars have yet to examine how political actors shape national trajectories of housing financialization. ...In this article, we address this shortcoming by examining the cases of Russia and Poland in the 1990-2018 period. We argue that in both contexts political elites implemented a radical market-oriented reshaping of housing finance. However, by pursuing distinct statecraft strategies and modes of integrating the domestic economy into global markets, Russian and Polish political elites created two divergent trajectories of housing financialization. Russian political elites pursued patrimonial statecraft strategies and a mode of global economic integration based on raw material exports. The Putin administration channeled revenues from raw material exports into the securitization-based housing finance system and used this infrastructure as an instrument of hegemonic power. In doing so, the Russian government shielded homeowners from exposure to financial risk. In contrast, Polish political elites pursued liberal statecraft strategies and a mode of global economic integration based on foreign capital inflows. Polish political parties therefore enabled foreign banks to dominate the housing finance system and sell foreign currency mortgages, which exposed homeowners to considerable financial risk. In light of these findings we call for further research into the political factors that shape the process of housing financialization, both in the post-socialist space and beyond.
Cost‐effectiveness is an important aspect in the assessment of payments for environmental services (PES) initiatives. In participatory field trials with communities in Western Kenya, we combined ...procurement auctions for forest enrichment contracts with performance‐based payments and compared the outcomes with a baseline scenario currently used by the Kenyan Forest Service. Procurement auctions were the most cost‐effective. The competitive nature of the auction reduced contracting expenses (provision costs), and the result‐oriented payments provided additional incentives to care for the planted seedlings, resulting in their improved survival rates (service quantity). These gains clearly exceeded increases in transaction costs associated with conducting an auction. The number of income‐poor auction participants and winners was disproportionately high and local institutional buy‐in was remarkably strong. Our participatory approach may, however, require adaptations when conducted at a larger scale. Although the number of contracts we monitored was limited and prohibited the use of statistical tests, our study is one of the first to reveal the benefits of using auctions for PES in developing countries. Combinando Subastas y Pagos Basados en Desempeño en un Ensayo de Campo de Enriquecimiento de Bosques en el Oeste de Kenia
This critical commentary reflects on a rapidly mobilised international podcast project, in which 25 urban scholars from around the world provided audio recordings about their cities during COVID‐19. ...New digital tools are increasing the speeds, formats and breadth of the research and communication mediums available to researchers. Voice recorders on mobile phones and digital audio editing on laptops allows researchers to collaborate in new ways, and this podcast project pushed at the boundaries of what a research method and community might be. Many of those who provided short audio 'reports from the field' recorded on their mobile phones were struggling to make sense of their experience in their city during COVID‐19. The substantive sections of this commentary discuss the digital methodology opportunities that podcasting affords geographical scholarship. In this case the methodology includes the curated production of the podcast and critical reflection on the podcast process through collaborative writing. Then putting this methodology into action some limited reflections on cities under COVID‐19 lockdown and social distancing initiatives around the world are provided to demonstrate the utility and limitations of this method.
This commentary discuss the digital methodology opportunities that podcasting affords geographical scholarship. In this case the methodology includes the curated production of the podcast and critical reflection on the podcast process through collaborative writing. Then putting this methodology into action some limited reflections on cities under COVID‐19 lockdown and social distancing initiatives around the world are provided to demonstrate the utility and limitations of this method.
Moscow urban development Zupan, Daniela; Büdenbender, Mirjam
Post-Socialist Urban Infrastructures,
2019, Letnik:
1
Book Chapter
Odprti dostop
The chapter examines the role of green spaces in Moscow's contemporary urban development, and interrogates underlying tensions and contradictions. The study finds that Moscow's new flagship parks ...form a key arena and infrastructure of neoliberalization - they have developed into new frontiers for commercialization; they are places where neoliberal subjects are forged, 'participatory' urban development is celebrated and Moscow's global competitiveness is negotiated. Yet, the current model is wrought with tensions. In particular, the superficial nature of urban reforms and changes in officially sanctioned aesthetics, as well as deteriorating economic conditions, provide context-specific limitations and increasingly challenge Moscow's current configuration of neoliberal urbanism.
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