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Adaptive Governance as an Avenue for Delivering Public Purpose in the Wake of Financialization

Kwami, C; Tyler, N; (2019) Adaptive Governance as an Avenue for Delivering Public Purpose in the Wake of Financialization. In: Almusaed, A and Almssad, A and Truong - Hong, L, (eds.) Sustainability in Urban Planning and Design. IntechOpen: London, UK. Green open access

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Abstract

The demand for infrastructure and utility services is an acute challenge for countries in middle- and low-income countries undergoing high levels of urbanization, demographic shifts, and civil and political reorganization. The demand for utilities occurs alongside a trend toward increased financialization of the local state. A challenge for meeting demand for utility services is the shift toward increased financialization where the delivery of public purpose is challenged. This chapter aims to highlight governing arrangements that aid in understanding how public purpose can be delivered through utilities using the case study of Medellin, Colombia. Through examples of public infrastructure projects and the delivery of water by its utility-company, Empresas Publicas de Medellin, the paper discusses how this company achieved alignment of essential services with public purpose through adaptive governance structures that mitigate adverse effects of financialization and promote the integration of economic, environmental, and social goals. While this case does not propose a transferable model of governance, it highlights arrangements that enable a more mixed, adaptive, and nuanced understanding of how adverse effects associated with total financialization might be abated.

Type: Book chapter
Title: Adaptive Governance as an Avenue for Delivering Public Purpose in the Wake of Financialization
Open access status: An open access version is available from UCL Discovery
DOI: 10.5772/intechopen.89270
Publisher version: https://doi.org/10.5772/intechopen.89270
Language: English
Additional information: Licensee IntechOpen. This chapter is distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/ by/3.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Keywords: cities, public-private partnerships, urban development, public purpose, adaptation, entrepreneurial city, governance, sustainability, adaptation
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > Dept of Civil, Environ and Geomatic Eng
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS
URI: https://discovery.ucl.ac.uk/id/eprint/10090756
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