Land value capture is often vaunted as having significant potential to fund public infrastructure, including mega transport projects like urban metro railway schemes. Yet land value capture is frequently challenging to operationalise and project promotors can be reluctant to use it to finance schemes. This article explores why and how land value capture came to be deployed in financing two major contemporary comparable urban railway developments: Grand Paris Express (France) and Crossrail (London, UK). We adopt an institutional perspective which seeks to understand how the dynamic relationships between different institutional bodies shaped the decision to use land value capture and the design of the resulting mechanisms employed by focusing on the political economy, planning regime and taxation regime of each project. We critically discuss the merits of using land value capture in funding these projects by considering why and how actors came to develop instruments that when not seen in isolation, make a meaningful contribution to the overall funding mechanisms employed.

中文翻译：

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在受限制的政策背景下土地价值捕获的变化轨迹;伦敦 Crossrail 和 Grand Paris Express 的比较

土地价值捕获经常被吹嘘为具有为公共基础设施提供资金的巨大潜力，包括城市地铁计划等大型交通项目。然而，土地价值捕获通常难以实施，项目发起人可能不愿意使用它来为计划提供资金。本文探讨了为什么以及如何在为两个主要的当代可比城市铁路开发项目筹集资金：Grand Paris Express（法国）和 Crossrail（英国伦敦）。我们采用制度视角，旨在通过关注每个项目的政治经济、规划制度和税收制度，了解不同机构机构之间的动态关系如何塑造使用土地价值捕获的决策以及所采用的结果机制的设计。我们批判性地讨论了使用土地价值捕获为这些项目提供资金的好处，方法是考虑行为者为什么以及如何开发工具，这些工具如果不孤立地看待，就会对所采用的整体融资机制做出有意义的贡献。