Li, Z;
Wu, F;
Zhang, F;
(2021)
A multi-scalar view of urban financialization: urban development and local government bonds in China.
Regional Studies
10.1080/00343404.2021.1998419.
(In press).
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Abstract
How urban financialization is achieved across different government levels receives limited attention. This study addresses the gap by examining the deployment of China’s local government bonds (LGBs). LGBs introduce a distinct financialization process in which the government relies on debt-financing for urban development, but in a regulated way to constrain financial risks. Urban financialization is realized through the multi-scalar structure of the government. The centralized procedure strengthens central and provincial regulations on local development projects. The multi-scalar government not only facilitates urban financialization but also executes statecraft by designing the process.
| Type: | Article |
|---|---|
| Title: | A multi-scalar view of urban financialization: urban development and local government bonds in China |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1080/00343404.2021.1998419 |
| Publisher version: | https://doi.org/10.1080/00343404.2021.1998419 |
| Language: | English |
| Additional information: | Copyright © 2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. |
| Keywords: | local government bonds, urban financialization, multi-scalar government, China |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > The Bartlett School of Planning |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10137733 |
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