{"title":"New land reserve institution and changing entrepreneurial urban governance in China","authors":"Yi Feng, Fulong Wu, Fangzhu Zhang","doi":"10.1016/j.cities.2024.105242","DOIUrl":null,"url":null,"abstract":"<div><p>Existing studies suggest that land financing has given rise to entrepreneurial governance in China because local governments act like entrepreneurs to capture land value appreciation. However, the new land reserve institution has recently forbidden local governments from using land as collateral and centralized the financial management of land reserve projects. Given this profound change in land institutions, we ask whether local governments have become less entrepreneurial. This paper investigates the Shanghai Land Reserve Centre. The funding restriction and declining land profitability make it more challenging to generate land revenue. However, the local government is now adapting to the new land reserve institution, developing new entrepreneurial tactics, and treating land investment as a recurrent income stream. Facing the conjuncture of alarming local government debts, re-centralizing state control, and structural limits of land finance, local governments' entrepreneurial stance is not eliminated, but their entrepreneurial practices are reshaped. Theoretically, this paper contributes to understanding how urban entrepreneurialism evolves in response to changing political and economic conjunctures.</p></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":null,"pages":null},"PeriodicalIF":6.0000,"publicationDate":"2024-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0264275124004566/pdfft?md5=0724e2871b859087a729f6889168e710&pid=1-s2.0-S0264275124004566-main.pdf","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Cities","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0264275124004566","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"URBAN STUDIES","Score":null,"Total":0}
引用次数: 0
Abstract
Existing studies suggest that land financing has given rise to entrepreneurial governance in China because local governments act like entrepreneurs to capture land value appreciation. However, the new land reserve institution has recently forbidden local governments from using land as collateral and centralized the financial management of land reserve projects. Given this profound change in land institutions, we ask whether local governments have become less entrepreneurial. This paper investigates the Shanghai Land Reserve Centre. The funding restriction and declining land profitability make it more challenging to generate land revenue. However, the local government is now adapting to the new land reserve institution, developing new entrepreneurial tactics, and treating land investment as a recurrent income stream. Facing the conjuncture of alarming local government debts, re-centralizing state control, and structural limits of land finance, local governments' entrepreneurial stance is not eliminated, but their entrepreneurial practices are reshaped. Theoretically, this paper contributes to understanding how urban entrepreneurialism evolves in response to changing political and economic conjunctures.
期刊介绍:
Cities offers a comprehensive range of articles on all aspects of urban policy. It provides an international and interdisciplinary platform for the exchange of ideas and information between urban planners and policy makers from national and local government, non-government organizations, academia and consultancy. The primary aims of the journal are to analyse and assess past and present urban development and management as a reflection of effective, ineffective and non-existent planning policies; and the promotion of the implementation of appropriate urban policies in both the developed and the developing world.