The financialising local growth machine in Chicago

Stephanie Farmer and Chris D Poulos
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Stephanie Farmer: Department of Sociology, Roosevelt University, USA
Chris D Poulos: Department of Sociology, University of Illinois at Chicago, USA

Urban Studies, 2019, vol. 56, issue 7, 1404-1425

Abstract: In this article, we explore how global infrastructure investment funds and actors are financialising the local growth machine in Chicago, and how Chicago’s transforming growth machine uses its influence to financialise urban governance policy goals and institutional arrangements. We view global infrastructure investors through the lens of place entrepreneurs seeking to extract monopoly rents from urban infrastructure. As place entrepreneurs, global infrastructure investors have an interest in forming alliances with other place entrepreneurs to generate political and institutional capacity for infrastructure financialisation. Our case study examines the concrete and specific ways in which global financial firms and actors work in partnership with Chicago’s business civic organisation, World Business Chicago, to shape the City of Chicago’s planning processes and orchestrate a more mature institutional-regulatory infrastructure investment environment through the formation of the Chicago Infrastructure Trust, the city’s public–private partnership infrastructure bank.

Keywords: finance/financialisation; governance; growth machines; infrastructure; public–private partnerships; é‡‘èž /é‡‘èž åŒ–; æ²»ç †; 增长机器; 基础设施; å…¬ç§ å ˆä½œä¼™ä¼´å…³ç³» (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:56:y:2019:i:7:p:1404-1425

DOI: 10.1177/0042098018801564

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