Has the post-war managerial approach to urban governance in the Netherlands and Flanders been replaced by more entrepreneurial and financialized forms? In this paper, we study the transformation of urban governance in the Low Countries through city case studies of Apeldoorn (Netherlands) and Antwerp (Belgium). We show how Dutch urban governance is financialized by connecting local public finance with financialized real estate markets through municipal land banks. However, inter-municipal financial solidarity and ring-fencing municipalities from financial markets create specific continental European processes of financialization. Flemish municipalities, in contrast, have shifted from a model of laissez-faire urban development (embedded in a system of large municipal autonomy) towards entrepreneurial urban growth regimes, in which technocratic public and private actors have increased access to public financial resources, which are used to create large urban renewal projects. In Belgium, autonomous municipal real estate corporations are a crucial instrument for connecting municipal finance to the real estate market.

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低地国家的城市发展治理：从管理主义到创业主义和金融化

荷兰和佛兰德斯的战后城市治理管理方法是否已被更具创业精神和金融化的形式所取代？在本文中，我们通过阿珀尔多伦（荷兰）和安特卫普（比利时）的城市案例研究来研究低地国家城市治理的转型。我们展示了荷兰城市治理如何通过市政土地银行将地方公共财政与金融化的房地产市场连接起来。然而，来自金融市场的城市间金融团结和围栏城市创造了特定的欧洲大陆金融化进程。相比之下，佛兰德市已经从自由放任的城市发展模式（嵌入大型市政自治系统）转向创业型城市增长机制，其中，技术官僚的公共和私人参与者增加了获得公共财政资源的机会，这些资源用于创建大型城市更新项目。在比利时，自治的市政房地产公司是将市政财政与房地产市场联系起来的重要工具。