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Rent gaps, gentrification and the “two circuits” of Latin American urban economies

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  • Richmond, Matthew
  • Garmany, Jeff

Abstract

Recent research in Latin America, and our own analysis of Brazilian cities, indicate that aspects of rent gap theory – in particular, the assumption that strong links exist between rent gaps and gentrification – do not fully account for observed empirical conditions. Drawing on Milton Santos' theory of “two circuits” of urban economies in the global South, we seek to develop an expanded framework better suited to explaining the Latin American context. Specifically, we argue that important socio-spatial processes combine to embed what Santos called the “lower circuit” in certain parts of the city. This “territorialisation” of space by the lower circuit impedes the entry of the upper circuit, thus constraining expected rent gap capture and gentrification. We argue that only by taking both circuits into account, and considering how they become territorialised in urban space, can we properly grasp the relationship between rent gaps and gentrification in Latin American cities.

Suggested Citation

  • Richmond, Matthew & Garmany, Jeff, 2023. "Rent gaps, gentrification and the “two circuits” of Latin American urban economies," LSE Research Online Documents on Economics 118373, London School of Economics and Political Science, LSE Library.
  • Handle: RePEc:ehl:lserod:118373
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    File URL: http://eprints.lse.ac.uk/118373/
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    References listed on IDEAS

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    1. Ernesto Lopez‐Morales, 2011. "Gentrification by Ground Rent Dispossession: The Shadows Cast by Large‐Scale Urban Renewal in Santiago de Chile," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 35(2), pages 330-357, March.
    2. G A Jones & A Varley, 1999. "The Reconquest of the Historic Centre: Urban Conservation and Gentrification in Puebla, Mexico," Environment and Planning A, , vol. 31(9), pages 1547-1566, September.
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    More about this item

    Keywords

    rent gap; gentrification; Southern theory; Latin America; Brazil; urban development;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General

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