Abstract

NASCIMENTO NETO, Paulo  and  MOREIRA, Tomás Antonio. Between formal intersections and functional distensions: urban operations and financialization on the periphery of capitalism. CIDADES [online]. 2022, vol.44, pp.133-153.  Epub June 15, 2022. ISSN 2182-3030.  https://doi.org/10.15847/cct.25700.

Financialization has been intensely discussed over the last decades, from different areas of knowledge and from different epistemological points of view. For the field of urban studies, the discussions point to a set of reflections on the transformation of urban policies, with increasing dominance of financial actors, market practices and narratives. In this context, financialization instruments are sometimes implemented in non-financialized contexts, especially in countries on the periphery of capitalism. Among these instruments, the Urban Partnership Operations (UPO) stands out in the Brazilian case, especially through the joint use of CEPACs, securities that make it possible to sell additional construction rights directly on the Stock Exchange. Despite a broader knowledge of the UPOs in São Paulo and Rio de Janeiro, little has been studied so far on the UPO Linha Verde, which has been underway for ten years in Curitiba, and appears as a reference case to be investigated. To what extent has the incorporation of a highly financialized fundraising mechanism contributed to the intended urban transformation? The findings point to a failed attempt to appropriate the instrument in the local scenario of urban planning, encouraging less-considered variables of the truncated process of financialization of urban policies in Brazil to be stressed.

Keywords : financialization; urban partnership operations; Curitiba; CEPAC; Large Urban Projects.

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