LAUSR

Abstract A variety of contemporary cities across the world are experimenting with innovative market-oriented planning instruments aimed at promoting urban regeneration processes. This research aims at offering a critical analysis of these innovations and how they are perceived by key stakeholders in Coimbra, Portugal, with special focus on Transferable Development Rights (TDR). Detailed insights are offered with the aim of critically exploring the levels of acceptability and applicability of TDR as a forthcoming planning innovation in this city vis-a-vis its planning culture and socio-spatial characteristics. The key conclusion is that the implementation of market-oriented instruments such as TDR is unlikely to represent a suitable strategy to promote urban regeneration in some contexts. Specifically, TDR may have limited efficacy in places characterised by modest levels of economic activity, technocratic legal systems, bureaucratic governance models, low social capital, and autocratic political leaderships – as is the case of Coimbra. Carefully crafted initiatives aimed at directly addressing the shortcomings of such traits while taking into account local features are likely to be more successful and transformative than the adoption of off-the-shelf market-oriented planning instruments.