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Financialising City Statecraft and Infrastructure

Andy Pike, Peter O’Brien, Tom Strickland, Graham Thrower, Centre for Urban and Regional Development Studies (CURDS), Newcastle University and John Tomaney, Bartlett School of Planning, Faculty of the Built Environment, University College London, UK
Financialising City Statecraft and Infrastructure addresses the struggles of national and local states to fund, finance and govern urban infrastructure. It develops fresh thinking on financialisation and city statecraft to explain the socially and spatially uneven mixing of managerial, entrepreneurial and financialised city governance in austerity and limited decentralisation across England. As urban infrastructure fixes for the London global city-region risk undermining national ‘rebalancing’ efforts in the UK, city statecraft in the rest of the country is having uneasily to combine speculation, risk-taking and prospective venturing with co-ordination, planning and regulation.
Extent: 360 pp
Hardback Price: $150.00 Web: $135.00
Publication Date: 2019
ISBN: 978 1 78811 894 1
Availability: In Stock
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  • Economics and Finance
  • Public Finance
  • Public Sector Economics
  • Urban Economics
  • Geography
  • Cities and Urban Geography
  • Urban and Regional Studies
  • Cities
  • Urban Economics
  • Urban Studies
  • Planning
Infrastructure systems provide the services we all rely upon for our day-to-day lives. Through new conceptual work and fresh empirical analysis, this book investigates how financialisation engages with city governance and infrastructure provision, identifying its wider and longer-term implications for urban and regional development, politics and policy.

Proposing a more people-oriented approach to answering the question of 'What kind of urban infrastructure, and for whom?’, this book addresses the struggles of national and local governments to fund, finance and govern urban infrastructure. It develops new insights to explain the socially and spatially uneven mixing of managerial, entrepreneurial and financialised city governance in austerity and limited decentralisation across England. As urban infrastructure fixes for the London global city-region risk undermining national ‘rebalancing’ efforts in the UK, city statecraft in the rest of the country is having uneasily to combine speculation, risk-taking and prospective venturing with co-ordination, planning and regulation.

This book will be of interest to researchers and scholars in the fields of business and management, economics, geography, planning, and political science. Its conclusions will be valuable to policymakers and practitioners in both the public and private sectors seeking insights into the intersections of financialisation, decentralisation and austerity in the UK, Europe and globally.
‘Financialising City Statecraft and Infrastructure explores the crucial connection between globalised financial flows and the infrastructure that provides the scaffolding for urban development. By following the money, the authors show the interaction of state and capital in shaping urban form and the uneven impacts on particular cities and groups within them.’
– Susan S. Fainstein, Harvard University, US
Contents: 1. Who owns, runs and pays for city infrastructure? 2. Financialising city infrastructure and governance 3. Towards city statecraft 4. City infrastructure provision and geographical inequalities in the UK’s centralised state 5. Deal or no deal? Austerity, decentralisation and the City Deals 6. Sell, hold or buy? Privatising, managing, owning, and acquiring city infrastructure assets 7. Fixing urban infrastructure in the London global city-region, undermining the rest of the UK? 8. Conclusions References Index