Infrastructure as a traded product: A relational approach to finance in practice
基于53位市场参与者的访谈，揭示基础设施金融数据并非走向完全透明，而是形成一种“信息半透明”状态，并据此提出一个关联模型来解释金融产品如何跨越时空进行中介。
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.