Financial market actors as urban policy-makers: the case of Brazil’s real estate investment trusts in Brazil - HAL-SHS - Sciences de l'Homme et de la Société Access content directly
Journal Articles Urban Geography Year : 2019

Financial market actors as urban policy-makers: the case of Brazil’s real estate investment trusts in Brazil

Abstract

Focusing on the growth of Real Estate Investment Trusts in Brazil, the paper explores how financializing policy instruments intertwine financial markets and the urban built environment. It studies the career of REITs and questions the role of financial market capital and actors in urban dynamics. The paper uncovers three processes usually considered separately: i) how a network of public and private financial market actors coaxes state bodies into using their regulatory powers and financial resources to transform real estate into an asset class; ii) how the government-run financial market authority and banks lure urban households into liquid real estate through marketing and education campaigns; and iii) how asset managers are “applied economic geographers” insofar as they channel households’ capital into a selected cities and properties. The active role played by financial actors in the design, enhancement and implementation of such a policy instrument leads us to conclude on their role as urban policy-makers.
Fichier principal
Vignette du fichier
Sanfelici_Halbert.pdf (499.47 Ko) Télécharger le fichier
Origin : Files produced by the author(s)

Dates and versions

halshs-01963187 , version 1 (27-09-2021)

Identifiers

Cite

Daniel Sanfelici, Ludovic Halbert. Financial market actors as urban policy-makers: the case of Brazil’s real estate investment trusts in Brazil. Urban Geography, 2019, 40 (1), pp.83-103. ⟨10.1080/02723638.2018.1500246⟩. ⟨halshs-01963187⟩
130 View
480 Download

Altmetric

Share

Gmail Facebook Twitter LinkedIn More