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Infrastructure as a traded product: A relational approach to finance in practice

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  • Eric R. W. Knight
  • Rajiv Sharma

Abstract

As nations continue to grapple with growing infrastructure demand, financial markets will play an increasingly prominent role in the landscape for urban infrastructure. Yet existing literature tends to depict the ‘financialization’ of urban infrastructure assets as a restless move towards market efficiency aided by the growing transparency of financial information. This article offers a different view, showing how the spatial richness of financial data for infrastructure has progressed towards what we term a more permanent state of ‘informational translucency’. We draw on 53 interviews with participants in the market for infrastructure investment to present this more complicated picture of infrastructure finance, thereby elaborating a more granular understanding of how information flows through and shapes financial market geography. From this we propose a relational model that contributes to theoretical understandings of how financial products are intermediated over time and space.

Suggested Citation

  • Eric R. W. Knight & Rajiv Sharma, 2016. "Infrastructure as a traded product: A relational approach to finance in practice," Journal of Economic Geography, Oxford University Press, vol. 16(4), pages 897-916.
    • Handle: RePEc:oup:jecgeo:v:16:y:2016:i:4:p:897-916.
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    File URL: http://hdl.handle.net/10.1093/jeg/lbv039
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    Cited by:

    1. Stefan Ouma, 2020. "This can(’t) be an asset class: The world of money management, “society†, and the contested morality of farmland investments," Environment and Planning A, , vol. 52(1), pages 66-87, February.
    2. Kate Gasparro & Ashby Monk, 2020. "Demystifying “localness†of infrastructure assets: Crowdfunders as local intermediaries for global investors," Environment and Planning A, , vol. 52(5), pages 878-897, August.
    3. Callum Ward, 2021. "Contradictions of Financial Capital Switching: Reading the Corporate Leverage Crisis through The Port of Liverpool's Whole Business Securitization," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 45(2), pages 249-265, March.

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