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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Capturing land value increment to finance infrastructure investment possibilities for South Africa
Author:Brown-Luthango, MercyISNI
Periodical:Urban Forum (ISSN 1874-6330)
Geographic term:South Africa
land transport
local finance
urban planning
External link:https://link.springer.com/article/10.1007/s12132-010-9108-3
Abstract:In the globalization age, cities are the drivers of economic growth. However, sustainable economic growth demands considerable investment in infrastructure. South African cities face a triple challenge of eradicating historical infrastructure backlogs inherited from the apartheid era, servicing and maintaining existing infrastructure, and providing new infrastructure to stimulate economic growth. In the South African context, the provision of municipal infrastructure plays a critical role in eradicating sociospatial inequalities as part of an overall poverty reduction strategy. This places a huge burden on local governments in South Africa in particular as they face capacity constraints and challenges in terms of raising sufficient own revenue in order to finance infrastructure projects. This paper argues that in light of the South African government's current infrastructure drive and the significant amount of public resources being spent on transport infrastructure upgrades, it is an opportune time to consider the impact of transport infrastructure investment, in particular on land value, and how this value can be captured to finance the provision of infrastructure at the local level. The paper cautions though that any programme aimed at capturing betterment needs to be based on sound research and needs to take cognizance of the legislative, policy and economic context in South Africa. Bibliogr., notes, ref., sum. [Journal abstract]