Brazil: from Eliticized- to Mass-Based Financialization.
While research on financialization, considered the latest stage of the development of capitalism, initially focused on industrialized countries, it has now expanded to include emerging markets. This article provides new insights into the current Brazilian case, while arguing also that Brazil was alr...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Association Recherche & Régulation
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| Series: | Revue de la Régulation |
| Subjects: | |
| Online Access: | https://journals.openedition.org/regulation/14491 |
| _version_ | 1797314933503819776 |
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| author | Lena Lavinas Eliane Araújo Miguel Bruno |
| author_facet | Lena Lavinas Eliane Araújo Miguel Bruno |
| author_sort | Lena Lavinas |
| collection | DOAJ |
| description | While research on financialization, considered the latest stage of the development of capitalism, initially focused on industrialized countries, it has now expanded to include emerging markets. This article provides new insights into the current Brazilian case, while arguing also that Brazil was already grappling with a premature, eliticized process of financialization in the 1980s, however embryonic. From the 2000s on, there came a new wave of financialization. This time, however, it was mass-based, using social policy as collateral. The article first establishes a timeline for and taxonomy of how financialization has been deployed in Brazil. It then examines how policies aimed at promoting social inclusion have been diverted to that end. Finally, it presents regression analyses demonstrating a negative correlation between financialization and the provision of public goods and services, which has become increasingly privatized. It also finds a positive relationship between financialization and income and cash transfers, the latter serving as collateral for the former. |
| first_indexed | 2024-03-08T02:53:21Z |
| format | Article |
| id | doaj.art-acfb44af4b8440f6bbc71f0e8445f3dc |
| institution | Directory Open Access Journal |
| issn | 1957-7796 |
| language | English |
| last_indexed | 2024-03-08T02:53:21Z |
| publisher | Association Recherche & Régulation |
| record_format | Article |
| series | Revue de la Régulation |
| spelling | doaj.art-acfb44af4b8440f6bbc71f0e8445f3dc2024-02-13T13:02:56ZengAssociation Recherche & RégulationRevue de la Régulation1957-77962510.4000/regulation.14491Brazil: from Eliticized- to Mass-Based Financialization.Lena LavinasEliane AraújoMiguel BrunoWhile research on financialization, considered the latest stage of the development of capitalism, initially focused on industrialized countries, it has now expanded to include emerging markets. This article provides new insights into the current Brazilian case, while arguing also that Brazil was already grappling with a premature, eliticized process of financialization in the 1980s, however embryonic. From the 2000s on, there came a new wave of financialization. This time, however, it was mass-based, using social policy as collateral. The article first establishes a timeline for and taxonomy of how financialization has been deployed in Brazil. It then examines how policies aimed at promoting social inclusion have been diverted to that end. Finally, it presents regression analyses demonstrating a negative correlation between financialization and the provision of public goods and services, which has become increasingly privatized. It also finds a positive relationship between financialization and income and cash transfers, the latter serving as collateral for the former.https://journals.openedition.org/regulation/14491Brazilfinancializationcollateralisation of social policypublic provision |
| spellingShingle | Lena Lavinas Eliane Araújo Miguel Bruno Brazil: from Eliticized- to Mass-Based Financialization. Revue de la Régulation Brazil financialization collateralisation of social policy public provision |
| title | Brazil: from Eliticized- to Mass-Based Financialization. |
| title_full | Brazil: from Eliticized- to Mass-Based Financialization. |
| title_fullStr | Brazil: from Eliticized- to Mass-Based Financialization. |
| title_full_unstemmed | Brazil: from Eliticized- to Mass-Based Financialization. |
| title_short | Brazil: from Eliticized- to Mass-Based Financialization. |
| title_sort | brazil from eliticized to mass based financialization |
| topic | Brazil financialization collateralisation of social policy public provision |
| url | https://journals.openedition.org/regulation/14491 |
| work_keys_str_mv | AT lenalavinas brazilfromeliticizedtomassbasedfinancialization AT elianearaujo brazilfromeliticizedtomassbasedfinancialization AT miguelbruno brazilfromeliticizedtomassbasedfinancialization |