Title: Proprietary governance and property development
Abstract:Based on institutional economics, this paper describes a market-based perspective on spatial planning. This view focuses on the problem of externalities that occur in property development. Traditional...Based on institutional economics, this paper describes a market-based perspective on spatial planning. This view focuses on the problem of externalities that occur in property development. Traditionally the existence of externalities is viewed as a reason for government intervention in the development process and for the formulation of policy goals that municipalities try to realise with spatial planning. In traditional welfare economics, externalities are often considered to cause failures in the operation of private-market agents. In this paper, I do not do this because it is equally possible that externalities originate from errors in government policy. The traditional distinction between 'government' and '(private) market' in welfare economics is actually fictional (Buitelaar, 2003) because markets cannot function without the rules introduced by a government 'if the market is a dance, then the state provides the orchestra and the dance floor' (Lindblom, 2001, 102). The existence of markets is based on the rules that govern them. This paper is based on a view on governance that is different from the usual role of government in spatial planning it is not concerned with the topic of 'more' or 'less' influence for the market, but rather with 'a different approach' to the market. Market oriented does not mean that the government does not interfere in the market of property development, but that it concentrates on creatingRead More
Publication Year: 2005
Publication Date: 2005-01-01
Language: en
Type: article
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Cited By Count: 1
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