The political economy of transit value capture: The changing business model of the MTRC in Hong Kong

    Par
    Jean Cavailhès
    -
    (), Vol. 56 (16), pp. 3415–3431

     Présentation (FED) : Le financement du coût des infrastructures des transports urbains peut être fait à partir des plus-values de la terre et des biens induites par ces infrastructures nouvelles. Il s’agit du mécanisme de land value capture (LVC), qui a généré un corpus de recherche important. L’étude du cas de la Mass Transit Railway Corporation (MTRC) à Hong Kong permet d’étudier la gouvernance de la LVC. Cela fournit des preuves empiriques d’une nouvelle stratégie de capture de valeur “basée sur la gestion”, qui est adaptée à des contextes urbains à croissance régulière ou lente.

    Abstract (authors) : The mechanism of land value capture (LVC) for financing urban transport, which supports the cost of transit infrastructure through the revenues of land and property, has generated a substantial body of research. However, the literature on transit-related LVC has paid little attention to the politics and strategies of value capture. This article intends to shift the focus towards the governance of LVC, based on the case study of the Mass Transit Railway Corporation (MTRC) in Hong Kong. It argues that the evolving balance of power within Hong Kong’s growth coalition has entailed a transformation of the MTRC’s business model, prompting the transit agency to shift from the development of new real estate projects to the management of existing property assets. This work provides empirical evidence of an emerging ‘management-based’ value capture strategy, which is adapted to steady or slow growing urban contexts.

    Lien : DOI : 10.1177/0042098018821519