Global financial networks and urban asymmetry: A geographical analysis of commercial real estate investment strategies in France

Réseaux financiers mondiaux et asymétrie urbaine: une analyse géographique des stratégies d'investissement dans l'immobilier commercial en France

Kevin Poisson ()
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Kevin Poisson: GC (UMR_8504) - Géographie-cités - UP1 - Université Paris 1 Panthéon-Sorbonne - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - UPCité - Université Paris Cité

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Abstract: Amidst a transformative post-2008 investment landscape characterized by mega-projects, foreclosures, and privatizations, this contribution investigates how global financial networks intersect with urban development in France. It provides an analysis of the global value chain, with a focus on commercial real estate (CRE) investment, and and the ways it impact key urban areas in France. This study develops a novel approach to geographical dataset generation of investment chains. It draws from national and global databases including Fichiers Fonciers, Registre National des Entreprises, and Global Legal Entity Identifier Index. This innovative methodology allows for a comprehensive examination of CRE investments within the contextual framework of global financial networks and urban development in France. Main findings reveal a strategic concentration by global investors in key urban areas of France, indicative of these cities' incorporation into global financial networks. The study uncovers that global investors employ complex corporate structures and ad-hoc financial vehicles specifically designed for real estate asset acquisition. These mechanisms facilitate temporary partnerships and reveal the intricate interdependencies among various financial actors. The findings delineate an economic asymmetry within the asset economy, manifesting through both the volume of investments and the investor typology. The research contributes to a better understanding of the intersections between global financial networks and urbanization processes in France. It not only offers unprecedented insights into how French cities are situated within global networks but also provides policymakers with empirical data for more equitable and sustainable urban planning.

Keywords: Globalization; Urbanization; Urbanisation; Globalisation (search for similar items in EconPapers)
Date: 2024-04-24
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Published in International Conference on Urban Affairs, Urban Affairs Association, Apr 2024, New York, United States

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04610697

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