dc.contributor.author |
Bahmanteymouri, Elham |
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dc.coverage.spatial |
School of Geography and Sustainable Communities, University of Wollongong |
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dc.date.accessioned |
2018-10-15T01:58:54Z |
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dc.date.issued |
2018-02-05 |
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dc.identifier.uri |
http://hdl.handle.net/2292/41521 |
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dc.description.abstract |
One of the common methods of financing urban residential development is using the surplus value of land sale activities in greenfield development. The development is usually set up in different stages. At each stage, buying and selling released land provides surplus value to finance further development. The surplus value of land sale activities is also extensively considered as an acceptable method to finance services and infrastructures. In particular, in many cases of urban development, provision of affordable housing is used as a justification for further land sale activities and for using land as a financial asset. With the rise of neoliberal housing schemes, this type of finacialisation method has taken the hegemonic place of urban development and its related housing policies. This paper offers a logic-based approach as a tool to understand the methods of financing a new greenfield urban development as one of the most important practices of planning. Following Laclau and Mouffe (1985), the logic approach explains how every practice works based on a financial logic with at least a dimension of psychoanalytical logic, which supports the possibility of the practice under a hegemonic ideology. The paper will apply the logic approach to critically analyse how financial and institutional logics work to make an urban development policy possible in the case of Ellenbrook, Perth, Western Australia. It investigates how and under which circumstances a particular financing method logically supersedes all other alternatives and becomes hegemonic. The paper will explain how different institutional logics, including public-private partnerships (PPPs), have made it possible for Ellenbrook to obtain high surplus from the yields and sales of lots to attract more investment. The logics help to sustain this practice of planning, which leads to further land development. Indeed, the operations of the PPPs rely on a financial logic: one of the most appropriate methods of the financialisation of urban development is more land release for the purpose of gaining surplus from land activities and consequently reinvesting this surplus for further development. Reference Laclau, E., & Mouffe, C. (1985). Hegemony and socialist strategy : towards a radical democratic politics. London: Verso. |
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dc.relation.ispartof |
Housing Theory Symposium |
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dc.relation.ispartofseries |
The Financialisation of Housing |
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dc.rights |
Items in ResearchSpace are protected by copyright, with all rights reserved, unless otherwise indicated. Previously published items are made available in accordance with the copyright policy of the publisher. |
en |
dc.rights.uri |
https://researchspace.auckland.ac.nz/docs/uoa-docs/rights.htm |
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dc.title |
The circuits of surplus value as the financing mechanism of urban development in Ellenbrook |
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dc.type |
Conference Item |
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dc.rights.holder |
Copyright: The author |
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pubs.author-url |
http://www.uowblogs.com/ausccer/2017/09/28/hts-2018-cfp/ |
en |
pubs.finish-date |
2018-02-06 |
en |
pubs.start-date |
2018-02-05 |
en |
dc.rights.accessrights |
http://purl.org/eprint/accessRights/RestrictedAccess |
en |
pubs.subtype |
Conference Paper |
en |
pubs.elements-id |
724112 |
en |
pubs.org-id |
Creative Arts and Industries |
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pubs.org-id |
Architecture and Planning |
en |
pubs.record-created-at-source-date |
2018-02-12 |
en |