Speculative Urbanism: Land, Livelihoods, and Finance Capital

University Of Minnesota-Twin Cities, Minneapolis MN

Investigators

Abstract

This project investigates a high-profile policy issue of considerable relevance to the US and countries worldwide: Are the major land transformations underway in rapidly growing metropolises helping to reduce urban poverty and increase urban sustainability? Aimed at enhancing economic competitiveness and reducing poverty in rapidly growing and densely populated cities of the Third World, this so-called "global cities" model of urban development strives to transform mega-cities (cities with populations of 10 to 20+ million) into "world-class" cities with matching infrastructure and amenities. Using Bangalore and Jakarta as case studies, this project examines how governments, global policymakers, international banks, local financial and political entrepreneurs, land developers, and ordinary residents shape commercial real estate and infrastructure projects at the core of this ambition. Project outcomes include a systematic assessment of the "global city" model, an issue of vital importance to the United States as a matter of global security, since poverty and unemployment in Third World mega-cities reinforces south-north migration and raises the prospect of civil unrest in regions of growing economic and geopolitical significance. The project's collaborative and comparative research design will generate mutually beneficial knowledge and educational exchange, and cement lasting intellectual relationships among US, Indian, and Indonesian higher education institutions. The project also enhances student training and expertise and integrates research results into university courses at the participating institutions. Investigators will broadly disseminate the results of this research in publications and through workshops for policy makers and government officials, and at public forums for urban planners, civil society groups and city residents. Key to the "global city" approach is the conversion of purportedly "under-utilized" land into commercially generative tracts using innovative administrative and financial arrangements that connect foreign investors and institutions with local counterparts. In spite of a policy consensus that the "global city" template reflects current best practice for transforming mega-cities into economic growth engines, mitigating urban poverty, and achieving urban sustainability, the persistence of youth unemployment, jobless growth, widespread impoverishment, and environmental hazards (such as air and water pollution, mosquito-borne ailments, poor sewage and sanitation) in such cities raises the possibility that this prevalent model of urban transformation is not working as envisioned. In order to study whether and why this might be the case, the project investigates three interlinked processes: 1) the networks and mechanisms through which land is acquired, consolidated, and transformed into a market commodity for large-scale real estate and infrastructure projects, asking who is able to participate in the land market and who is not; 2) how policy and financial networks influence the implementation of the "global city" approach; and 3) whether this model of urban transformation ultimately disadvantages more people than it advantages, undermining urban livelihood and employment possibilities. The investigators employ a mix of qualitative and quantitative research methods, including policy evaluation and analysis of census and remote sensing data, as well as interviews with urban residents and key actors in two Asian mega-cities, to meet this tripartite scholarly objective.