The New Frontiers of Housing Financialization in Phnom Penh, Cambodia: The Condominium Boom and the Foreignization of Housing Markets in the Global South
The New Frontiers of Housing Financialization in Phnom Penh, Cambodia: The Condominium Boom and the Foreignization of Housing Markets in the Global South
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柬埔寨金边住房金融化的新领域：南半球的公寓繁荣和住房市场的外国化
DOI：
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发表时间：
2020
期刊：
影响因子：
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通讯作者：
Gabriel Fauveaud
中科院分区：
文献类型：
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作者：
Gabriel Fauveaud
摘要 本文调查了低收入国家 (LIC) 的住房金融化进程。本文将住房既视为资本又视为商品，挖掘了 20 世纪 60 年代以来低收入国家住房金融化的根源，并展示了 20 世纪 90 年代以来如何利用金融化来规避低收入国家住房市场市场化和商品化的长期障碍。本文重点关注柬埔寨首都金边公寓市场的近期发展，然后研究了各种利益相关者（例如开发机构、公共机构、外国和国际投资者、跨国开发商、经纪人）在当地住房市场当代金融化中的作用。详细阐述他们的策略、话语和行动，我认为，在金融业仍然不发达的经济背景下，本地和国际开发商和经纪人通过创建特定的房地产资本流通和落地渠道，充当金融化的代理人。我认为，金边的案例揭示了主要来自亚洲的外国和跨国利益相关者如何通过住房金融化（我将其称为住房市场的外国化）创建了特定的资本积累制度。这一制度强调金融化通过建立资本外向机制来渗透长期以来无法触及的市场的巨大能力。
ABSTRACT This article investigates housing financialization processes in low-income countries (LICs). Considering housing as both capital and commodity, the article excavates the roots of housing financialization in LICs since the 1960s, and shows how financialization has been used, since the 1990s, to circumvent long-standing obstacles to the marketization and commodification of LICs’ housing markets. Focusing on the recent development of the condominium market in Phnom Penh, the capital city of Cambodia, the article then investigates the role of various stakeholders (e.g., development agencies, public institutions, foreign and international investors, transnational developers, brokers) in the contemporary financialization of local housing markets. Detailing their strategies, discourses, and actions, I argue that in economic contexts where the financial sector remains underdeveloped, local and international developers and brokers act as agents of financialization by creating specific channels of real estate capital circulation and landing. I argue that the case of Phnom Penh reveals how foreign and transnational stakeholders, mainly originating from Asia, have created a specific regime of capital accumulation through housing financialization, which I name the foreignization of housing markets. This regime emphasizes the significant capacity of financialization to penetrate markets that have long remained out of its reach by establishing capital extraversion mechanisms.
拉丁美洲及其他地区的住房小额信贷和住房金融化：未来研究议程
影响因子：
3.5
作者：
Grubbauer
通讯作者：
Grubbauer