The political economy of transit value capture: The changing business model of the MTRC in Hong Kong
The political economy of transit value capture: The changing business model of the MTRC in Hong Kong
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DOI：
10.1177/0042098018821519
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发表时间：
2019-12-01
期刊：
影响因子：
4.7
通讯作者：
Blandeau, Guillaume
中科院分区：
文献类型：
--
作者：
Aveline-Dubach, Natacha;Blandeau, Guillaume
通过土地和财产收入支持过境基础设施成本的城市交通融资的土地价值捕获机制已经产生了大量的研究。然而，有关过境相关的低价值链的文献很少关注价值捕获的政治和战略。本文以香港地铁公司为例，将研究的重点转向低价值集团的治理问题。报告认为，香港增长联盟内部不断演变的权力平衡，导致地铁公司的业务模式发生转变，促使该公司从开发新的真实的房地产项目转向管理现有的房地产资产。这项工作提供了一个新兴的“基于管理”的价值捕获战略，这是适应稳定或缓慢增长的城市环境的经验证据。
The mechanism of land value capture (LVC) for financing urban transport, which supports the cost of transit infrastructure through the revenues of land and property, has generated a substantial body of research. However, the literature on transit-related LVC has paid little attention to the politics and strategies of value capture. This article intends to shift the focus towards the governance of LVC, based on the case study of the Mass Transit Railway Corporation (MTRC) in Hong Kong. It argues that the evolving balance of power within Hong Kong's growth coalition has entailed a transformation of the MTRC's business model, prompting the transit agency to shift from the development of new real estate projects to the management of existing property assets. This work provides empirical evidence of an emerging 'management-based' value capture strategy, which is adapted to steady or slow growing urban contexts.