{"title":"Explaining Value Capture Implementation in New York, London, and Copenhagen: Negotiating Distributional Effects","authors":"Simon van Zoest, T. Daamen","doi":"10.1177/10780874231222174","DOIUrl":null,"url":null,"abstract":"Value capture (VC) is widely cited as a method for local authorities to provide urban public goods to their cities in the face of fiscal stress. Its application in practice however remains limited. In this article, we aim to explain the implementation process of VC as a strategy to fund public transportation infrastructure through case studies in London, New York, and Copenhagen. Adopting a theory of gradual institutional change, we argue that the implementation of VC depends on the capacity to change distributional institutions that are inherently contested. Particularly relevant is the role of the beneficiary, whose support of VC is necessary but not likely. Our results show that a strategic urban development project can act as a driver to overcome this barrier, but that this driver can, simultaneously, also hinder the institutionalization potential of a VC strategy. We therefore suggest that, for VC strategies to become more commonplace, sharing value uplifts among beneficiaries must become more commonplace too.","PeriodicalId":51427,"journal":{"name":"Urban Affairs Review","volume":"17 2","pages":""},"PeriodicalIF":2.4000,"publicationDate":"2024-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Urban Affairs Review","FirstCategoryId":"90","ListUrlMain":"https://doi.org/10.1177/10780874231222174","RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"URBAN STUDIES","Score":null,"Total":0}
引用次数: 0
Abstract
Value capture (VC) is widely cited as a method for local authorities to provide urban public goods to their cities in the face of fiscal stress. Its application in practice however remains limited. In this article, we aim to explain the implementation process of VC as a strategy to fund public transportation infrastructure through case studies in London, New York, and Copenhagen. Adopting a theory of gradual institutional change, we argue that the implementation of VC depends on the capacity to change distributional institutions that are inherently contested. Particularly relevant is the role of the beneficiary, whose support of VC is necessary but not likely. Our results show that a strategic urban development project can act as a driver to overcome this barrier, but that this driver can, simultaneously, also hinder the institutionalization potential of a VC strategy. We therefore suggest that, for VC strategies to become more commonplace, sharing value uplifts among beneficiaries must become more commonplace too.
期刊介绍:
Urban Affairs Reveiw (UAR) is a leading scholarly journal on urban issues and themes. For almost five decades scholars, researchers, policymakers, planners, and administrators have turned to UAR for the latest international research and empirical analysis on the programs and policies that shape our cities. UAR covers: urban policy; urban economic development; residential and community development; governance and service delivery; comparative/international urban research; and social, spatial, and cultural dynamics.