Public Value Capture, Climate Change, and the 'Infrastructure Gap' in Coastal Development: Examining Evidence from France and Greece

Captation de valeur foncière, changement climatique et le "déficit en infrastructure" sur les zones côtières: un regard sur les expériences en France et en Grèce

Nikos Karadimitriou (), Sonia Guelton (), Athanasios Pagonis () and Silvia Sousa ()
Additional contact information
Nikos Karadimitriou: The Bartlett School of Planning - UCL - University College of London [London]
Sonia Guelton: LAB'URBA - LAB'URBA - UPEM - Université Paris-Est Marne-la-Vallée - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12, University of Paris-East Créteil
Athanasios Pagonis: National Technical University of Athens, School of Architecture
Silvia Sousa: Universidade do Porto = University of Porto, Research Centre for Territory, Transport and Environment - Universidade do Porto = University of Porto

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Abstract: This paper examines the role that two Public Value Capture (PVC) mechanisms could play in providing a source of funding for urban infrastructure in the case of two coastal areas in France and Greece. High development pressures in those areas have been exacerbated in recent times by the growing ‘informality of desire'. Therefore, in a context of climate change the two case study areas face the dual challenge of an increasing ‘investment gap' and increasing vulnerability. Although the estimated costs are still based on approximate calculations, they are substantive. Using primary and secondary data, as well as analysis of the legal and policy framework, the paper shows that ‘informality of desire' is not only tolerated but actually incentivised in both countries. This leads to substantial short-term financial benefits for private developers and property owners but also some gains for local authorities and central governments. However, the value captured via the legalisation fees and property taxation is not adequately ringfenced and in any case it is not enough to cover the infrastructure gap and the potential compensation in case of natural disasters

Keywords: Public Value Capture; Climate Change; the infrastructure gap; coastal development; Athens Riviera; Vendée (search for similar items in EconPapers)
Date: 2022-06-08
New Economics Papers: this item is included in nep-dem, nep-env and nep-ure
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-03690708v1
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Published in Sustainability, 2022, ⟨10.3390/su14127019⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-03690708

DOI: 10.3390/su14127019

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