Explaining Value Capture Implementation in New York, London, and Copenhagen: Negotiating Distributional Effects
Simon van Zoest,
Tom A. Daamen
Abstract:Value capture (VC) is widely cited as a method for local authorities to provide urban public goods to their cities in the face of fiscal stress. Its application in practice however remains limited. In this article, we aim to explain the implementation process of VC as a strategy to fund public transportation infrastructure through case studies in London, New York, and Copenhagen. Adopting a theory of gradual institutional change, we argue that the implementation of VC depends on the capacity to change distribu… Show more
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