Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1111/1468-2427.12520 |
The Financialization of A Social Housing Provider | |
Aalbers, Manuel B.; Van Loon, Jannes; Fernandez, Rodrigo | |
2017-07-01 | |
发表期刊 | INTERNATIONAL JOURNAL OF URBAN AND REGIONAL RESEARCH
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ISSN | 0309-1317 |
EISSN | 1468-2427 |
出版年 | 2017 |
卷号 | 41期号:4 |
文章类型 | Article |
语种 | 英语 |
国家 | Belgium |
英文摘要 | Why does a social housing provider bet on interest rate fluctuations? This article presents a case study of the financialization of both housing and the state. Social housing in the Netherlands is provided by non-profit housing associations that have since 1989 been set apart from the state. Many associations started developing housing for profit, borrowing on global capital markets or buying derivatives. Whereas other semi-public institutions moved into the world of finance due to financial constraints, housing associations did so to capitalize on the possibilities offered by their asset-rich portfolios. Vestia, the largest of them all, is an extreme--but not exceptional--case of what can happen when public goals are left to be realized by inadequately supervised and poorly managed private organizations. As a result of gambling on derivatives, Vestia had to be bailed out to the tune of over 2 billion euros. To recoup the losses, housing was sold off and rents were raised. Almost half of Dutch housing associations used derivatives, although most refrained from using them purely speculatively. The changes in the housing sector that led to its financialization cannot be separated from the wider financialization of the state. |
英文关键词 | housing financialization derivatives social housing housing associations the Netherlands |
领域 | 资源环境 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000412174900003 |
WOS关键词 | CRISIS ; POLITICS ; CITY ; FINANCIALISATION ; NEOLIBERALISM ; NETHERLANDS ; GEOGRAPHIES ; DERIVATIVES ; IMPACT ; POLICY |
WOS类目 | Geography ; Regional & Urban Planning ; Urban Studies |
WOS研究方向 | Geography ; Public Administration ; Urban Studies |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/16308 |
专题 | 资源环境科学 |
作者单位 | Univ Leuven, KU Leuven, Div Geog & Tourism, Celestijnenlaan 200e,Bus 2409, B-3001 Leuven, Belgium |
推荐引用方式 GB/T 7714 | Aalbers, Manuel B.,Van Loon, Jannes,Fernandez, Rodrigo. The Financialization of A Social Housing Provider[J]. INTERNATIONAL JOURNAL OF URBAN AND REGIONAL RESEARCH,2017,41(4). |
APA | Aalbers, Manuel B.,Van Loon, Jannes,&Fernandez, Rodrigo.(2017).The Financialization of A Social Housing Provider.INTERNATIONAL JOURNAL OF URBAN AND REGIONAL RESEARCH,41(4). |
MLA | Aalbers, Manuel B.,et al."The Financialization of A Social Housing Provider".INTERNATIONAL JOURNAL OF URBAN AND REGIONAL RESEARCH 41.4(2017). |
条目包含的文件 | 条目无相关文件。 |
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