Critics have alleged that the process of negotiating sovereign debt relief is unduly politicized and favors a global capitalist elite over national and democratic interests. This study evaluates the legitimacy of these criticisms by analyzing the cases of Russia and Poland in the six year period after the end of state communism in the 1990s. An alternate hypothesis, that the words of state leaders both in public and in meetings with influential global capitalist agencies determine the outcomes of key negotiations, is advanced through a careful analysis of video recordings of key speeches as well as other sources. A comparison of these cases is used to develop insights into the political role of transnational financial institutions and global capitalism. / Master of Arts

This dissertation analyzes contemporary transformations in urban policy and space production in Brazil; in particular, those associated with state efforts to attract the private sector to participate in the design, finance, development and long-term management of infrastructure and housing provision systems. While the study's focus is on adoption of the public-private partnership (PPP) mechanism in the affordable housing sector, empirical research is based on the case study analysis of Casa Paulista Program, the first PPP for affordable housing delivery in the country, sponsored by the State Government of São Paulo and implemented in the central districts of the city of São Paulo, the state's capital. Specific questions driving the research are twofold: in the first, I ask what were the characteristics of the Casa Paulista PPP model, and in the second, how public and private agents, including social groups, affected the evolution of the model. Permeating this analysis is the concern as to how housing provision through PPPs may affect the ability of local populations to access adequate housing and fully participate in city living, as demanded by social housing movements and urban reform advocates and predicted in Brazil's Federal Constitution, and rights-based urban policy at national and local levels. Findings indicate that the Casa Paulista model, while neither leveraging private capital nor scaling up housing production, facilitates rearrangements in the private local housing market, urban policy, and social relationships around housing provision. These efforts are successful only with support of the development and finance industries operating beyond the local scale. I argue that these new rearrangements support a publicly funded, privately managed model to support predominantly residential real estate development projects of large scale and which are debt financed through long term agreements. This dynamic generates risk to society's ability to control urban transformation in the central city area and support preservation of a stock of public and private land where affordable housing development is currently prioritized, an outcome I describe as 'privatizing planning and socializing risk'. / PHD

La production du logement en France est au cœur de plusieurs débats académiques : sur l'action de l'Etat, sur les logiques privées de production, sur la gouvernance locale. La thèse selon laquelle un processus de néolibéralisation affecte les sociétés occidentales depuis les années 1970 en offre une lecture transversale. Cependant, l'analyse d'un instrument de la politique nationale du logement – l'aide fiscale à l'investissement locatif – en montre les nombreuses limites, en particulier dans les années 2000. Reposant sur une méthodologie croisant approches qualitatives et quantitatives, notre recherche révèle plutôt l'émergence d'une nouvelle économie politique de la production du logement. En lien avec la décentralisation, la puissance publique se fait duale, avec d'un côté un Etat qui encadre le marché par la réglementation et de l'autre des collectivités qui entrent en négociation avec les acteurs privés. Cette dualité fait d'ailleurs apparaître des contradictions entre enjeux nationaux (notamment macroéconomiques) et priorités locales. En regard, la promotion immobilière se transforme : si les dispositifs d'incitation fiscale mis en place par l'Etat ont amené de nouveaux acteurs et fait naître un modèle de production spécifique, la nouvelle logique d'action publique induit une adaptation des stratégies. La fabrication matérielle de la ville se trouve affectée par ces changements. A la fois parce que la réglementation nationale a un impact sur l'offre mais aussi parce que les inégales capacités de négociation des collectivités avec les acteurs privés exposent davantage les villes petites et moyennes à une production de logements en décalage avec les attentes publiques / Housing production in France is at the heart of several academic debates concerning State intervention, private production models and local governance. In each of them, some authors have expressed the idea that western countries have been affected by a neoliberalization process since the 1970s. But our study of the fiscal aid to rental investment, which is one of the tools of national housing policy, shows the limits of this interpretation, especially in the 2000s. Based on a methodology combining qualitative and quantitative analysis, our research however shows that a new political economy of housing production is emerging. Along with decentralization, there are now two public authorities involved in regulating the market: the State by law and the local governments by negotiation with private parties. And this duality creates contradictions between national issues (especially macroeconomic) and local priorities. In this context, the property development sector has witnessed major changes: if State incentives have induced the emergence of new participants and of a specific model of production, the new public regulation implies a change in strategies. Urban production is concerned by these changes. Not only because State regulation has an impact on supply but also because the unequal ability of local governments to negotiate with developers make small and medium-sized cities more exposed to a gap between real housing production and public expectations

O objetivo deste trabalho é a discussão sobre a importância da teoria marxista do imperialismo para a compreensão do capitalismo hodierno. Para tanto, faz-se uma breve análise das principais contribuições dos autores marxistas clássicos. Posteriormente, veremos os alcances e limites da teoria clássica do imperialismo nos debates atuais relativos ao neoliberalismo, a financeirização da economia, ao papel do capital financeiro no capitalismo contemporâneo e a hegemonia norte-americana no mundo atual. Parte-se da idéia de que o imperialismo representa o elemento central na explicação do capitalismo, desde a década de 1870. Porém, podemos destacar 3 subfases no desenvolvimento do capital monopolista: primeiro, o período compreendido entre os anos de 1870 a 1913; o segundo período, compreendido entre os anos de 1920 a 1970; o terceiro período, entre o final da década de 1970 e ainda não finalizado. / The objetive of this work is discussing about the importance of the Marxs theory of Imperialism to insight of hodiern capitalism. For this purpose, it makes a brief analysis of main contributions of the classical marxists authors. After that, we see the achievements and limitations of the classical theory of Imperialism in the current discussions about the neoliberalism, financialization, to the role of finance in the contemporary capitalism and to the USAs hegemony. The bottom line is the idea the Imperialism has represented the central element to explain the capitalism since the 1870s. However, we can draft three sub-steps of the monopolist capitalism development: first, the period between 1870 and 1913; second, the period between 1920 and 1970; third, between the end of the 1970s thats not finished yet.

Made available in DSpace on 2016-04-26T20:48:34Z (GMT). No. of bitstreams: 1 Gustavo Carvalho Tapia Lira.pdf: 1286443 bytes, checksum: 62f3cefe3bc713ec45e832d58c5d8dec (MD5) Previous issue date: 2011-06-02 / Conselho Nacional de Desenvolvimento Científico e Tecnológico / This study consists in analysis of the application of oil revenues in Brazil. Depart from the hypothesis that this application should be attentive to the intergenerational justice, as it is a non-renewable mineral resource and much of its use should be invested in public policy on future generations. Our analysis will focus on the capture of these rents by the State of Rio de Janeiro, in the form of royalties and special taxes which were used to pay the public debt with the Federal Government as part of the fiscal adjustment program. In our investigation, the application of these rents, justified in the interests of macroeconomic equilibrium, it can be explain by the fundamentals elements of contemporary capitalism, the financialization" / Este trabalho se propõe a estudar a aplicação das rendas do petróleo no Brasil. Partiremos da hipótese de que sua aplicação deve se ater à questão intergeracional, uma vez que se trata de um recurso mineral não renovável e boa parte de seu uso deveria ser investido em políticas públicas voltadas às gerações futuras. Nossa análise se concentrará na captação destas rendas pelo Estado do Rio de Janeiro, sob a forma de tributos (royalties e participações especiais), que foram entregues à União a fim de saldar parte de suas dívidas negociadas no Programa de Apoio à Reestruturação e ao Ajuste Fiscal dos Estados. Em nossa interpretação, a forma de aplicação atual destas rendas, justificadas em prol de um equilíbrio financeiro e fiscal do governo federal, faz parte do movimento de financeirização da economia

O processo de financeirização intensificou-se após a década de 1970, devido a uma série de transformações político-econômicas ocorridas nesse período, movidas pela ideologia neoliberal. A financeirização é um fenômeno que se sustenta de forma independente do crescimento real da economia, pois o capital se reproduz sem, necessariamente, possuir relação direta com o processo produtivo. Com esse descolamento, as finanças se ampliam, formando um cenário de fragilidade financeira para os agentes econômicos. Em países em desenvolvimento ou periféricos, a financeirização ocorre de modo específico, fazendo com que o Estado fique fragilizado, diferente das economias desenvolvidas onde o processo atinge mais fortemente o setor privado. Essa característica justifica o estudo da fragilidade do Setor Público brasileiro, cujo objetivo é analisar como o processo de financeirização o impactou, no período 2008-2014, exatamente no contexto em que ocorria uma grande crise no setor financeiro com repercussão global. Para realizar o estudo proposto, a metodologia consistirá na revisão bibliográfica, na coleta e análise dos dados dos relatórios contábeis do Setor Público brasileiro e na utilização do índice de fragilidade financeira aplicado ao Setor Público elaborado por Terra et al (2009). No Brasil, o processo de financeirização é conduzido pelo endividamento do Setor Público, considerado o fundamental eixo da acumulação rentista-patrimonial. Esse processo tem sido intensificado pela política de manutenção de taxas de juros elevadas e, consequentemente, intrincado as finanças do Setor Público, de modo que seus gastos financeiros, permanentemente alimentados por altas taxas de juros, favorecem o crescimento da dívida pública. Essas circunstâncias regem o Estado para uma situação de fragilidade financeira, a la Minsky, comprometendo sua capacidade de atuar como agente anticíclico e mantendo-o refém dos interesses do capital financeiro. Os resultados obtidos permitem concluir que o Setor Público brasileiro está, de fato, fragilizado e que isso se deve à forma com que a financeirização ocorre no Brasil. / The financialization process after de 70 decade has enhanced due to a succession of political and economical transformations occurred in this time lapse, induced by a neoliberal ideology. Financialization is such a phenomenon that is apparently self sustained within an independent way apart from the real growth of economy, since the capital reproduces itself without necessarily keeping direct relation with the productive process. With such detachment, finances will broaden and making up a sceneray of finance fragility for the economical agents. In non developed or peripheral countries financialization occur on a specific way by conveying the State to fragility, differently of developed economies where process reaches private sector more strongly. Such characteristic justifies itself the very study of fragility of Brazilian public sector, which main objective is the understanding of how financialization process had impacted it, 2008-2014 term, right at the context when a great crisis in the finance sector had been in course and with a global rebouding as well. In order to accomplish the proposed study, the methodology will consist of bibliographic revisal, collecting and analysis of accounting reports data of Brazilian Public Sector and the use of financial fragility index as well, practiced by the Public Sector developed by Terra et al (2009) In Brazil financialization process has been conducted by the indebtedeness of Public Sector, thus considered the fundamental axis of patrimonial-rendering accumulation. Such process has been enhanced by the maintenance of raised interest tax policy, resulting intricate the Public Sector finance so that its continuous finance expenditure supplied by high interest taxes, favours the growth of public debt. Those circunstances drive the State into a “Minsky way” finance fragility position, jeopardizing its competence role of an “anticyling” agent, and keeping it likewise hostage of the finance capital. These attained results follows that Brazilian Public Sector in fact is weakened and this due to means and ways financialization occur in Brazil. / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior - CAPES

No último decênio, as metrópoles brasileiras foram profundamente reconfiguradas pela proliferação de projetos imobiliários de grande porte. O investimento imobiliário, antes fortemente centralizado nas áreas mais valorizadas das metrópoles, irradiou-se também para as periferias e franjas metropolitanas, com importantes repercussões socioespaciais. Esta pesquisa procurou fornecer algumas explicações para esse fenômeno, colocando em foco a crescente penetração das finanças na produção do espaço urbano no Brasil. Desde meados da década de 1990, sucessivos governos, estimulados por organizações privadas ligadas ao setor financeiro, empenharam-se na criação de marcos regulatórios e institucionais favoráveis à circulação do capital financeiro pelo ambiente construído urbano. Esse novo ambiente institucional foi uma peça importante não apenas na ampliação do financiamento habitacional no transcurso da década de 2000, mas também na aproximação do investimento imobiliário com a dinâmica do mercado de capitais. Esta integração entre mercado de capitais e mercado imobiliário ganhou força, primordialmente, com a abertura de capital das principais incorporadoras imobiliárias, ocorrida entre 2005 e 2007, quando grandes fundos de investimento adquiriram participação nessas empresas. Com base em entrevistas, coleta de dados secundários e publicações setoriais, procurou-se, nessa tese, elucidar algumas das implicações desse entrelaçamento das incorporadoras imobiliárias com o mercado de capitais. Observou-se uma profunda mudança nas estratégias empresariais após a emissão de ações e debêntures, o que se explica, em grande medida, pelas exigências de rentabilidade colocadas pelos novos acionistas. A maior parte das empresas adotou políticas agressivas de expansão tanto na escala da metrópole quanto na escala do território, multiplicando seus volumes de lançamentos entre 2005 e 2010. Também ocorreu um aperfeiçoamento das formas de captura de rendas urbanas. Uma análise da atuação dessas incorporadoras no mercado imobiliário de Porto Alegre indicou, além disso, que esse refinamento das estratégias de investimento produziu, de uma parte, uma exacerbação das formas de segregação e fragmentação socioespacial urbana e, de outra, um rearranjo escalar do processo de urbanização. Configura-se, portanto, uma situação em que as metrópoles brasileiras são crescentemente transformadas segundo as determinações e os ritmos ditados pelas finanças, que se beneficiam dos rendimentos produzidos pela reestruturação socioespacial. / Over the past decade, Brazilian cities were thorougly reconfigured by a profusion of large-scale real estate developments. Previously restricted to high-end neighborhoods, real estate investment has expanded to include peripheral and outlying areas of major metropolitan areas, thus producing dramatic socio-spatial effects. The present research provides an explanation for this phenomenon by focusing on the growing penetration of finance into the production of urban space in Brazil. Since the mid-1990s, successive governments, encouraged by private organizations tied to the financial sector, have made an effort to create a regulatory and institutional framework favorable to the circulation of capital in the built environment. This new institutional atmosphere was a key element not only in the growth of mortgage lending in the 2000s, but also in the convergence of real estate investment and the dynamics of capital markets. The integration of capital markets and real estate markets occurred primarily through the initial public offering of large developers between 2005 and 2007, when huge investment funds acquired participation in these firms. Based on interviews, collected data and sectoral publications, this dissertation has attempted to clarify some of the consequences of the links that were forged between developers and capital markets. We observed a profound change in developers strategies after their IPOs, mostly explained by the high yields demanded by investors. Most developers adopted a highly aggressive policy of expansion, both on the scale of the city and on the scale of the territory, multiplying their output between 2005 and 2010. The ways in which urban land rents were extracted had also improved. Our analysis of how these developers have operated in Porto Alegre (southern Brazil) indicates, moreover, that developers finely honed business strategies have, on the one hand, intensified socio-spatial segregation and fragmentation, while on the other, have been responsible for a rescaling of the urbanization process. The outcome is a situation in which metropolitan areas are, to an incresing degree, transformed according the determinations and rhythms dictated by finance capital, which benefits from the returns generated by socio-spatial restructuring.

A discussão em torno da degradação ambiental tem origem nos debates iniciados na década de 70. A presente dissertação se insere no escopo da crítica ecológica desenvolvida a partir da teoria do capital monopolista e de seus desdobramentos contemporâneos, ao incorporar as contribuições feitas por François Chesnais et all sobre a dominância financeira. O objetivo dessa dissertação é oferecer os paralelos existentes entre as politicas internacionais sobre o meio ambiente e a trajetória percorrida pela economia internacional ao longo dos últimos 30 anos. O contexto histórico no qual o tema se origina é o processo de endividamento dos países do Terceiro Mundo, e a implementação dos Programas de Ajuste Estruturais, a partir da década de 1980. A dissertação busca apresentar as permanências e as rupturas existentes entre os mecanismos de ajuste e as políticas internacionais voltadas ao meio ambiente, incluindo a ratificação do Protocolo de Quioto, processos desenvolvidos sob a mediação neoliberal. / The discussion of environmental degradation originates in debates started in the 70s. This thesis falls within the scope of the ecological critique developed from the theory of monopoly capital and its contemporary developments, to incorporate the contributions made by François Chesnais et all on the financial dominance. The objective of this dissertation is to provide the parallels between the international policies on the environment and the trajectory by the international economy over the last 30 years. The historical context in which the issue arises is the process of indebtedness of Third World countries, and the implementation of the Structural Adjustment Programs from the 1980s. The dissertation aims to show the continuities and ruptures between the adjustment mechanisms and international policies related to the environment , including the ratification of the Kyoto Protocol, developed under the mediation processes neoliberal.

Submitted by Cássia Santos (cassia.bcufg@gmail.com) on 2016-02-11T11:40:49Z No. of bitstreams: 2 Dissertação - Tamara Naiz da Silva - 2013.pdf: 3658719 bytes, checksum: c0f6341aa487e5216c1c86e229cd24bb (MD5) license_rdf: 23148 bytes, checksum: 9da0b6dfac957114c6a7714714b86306 (MD5) / Approved for entry into archive by Luciana Ferreira (lucgeral@gmail.com) on 2016-02-11T11:43:38Z (GMT) No. of bitstreams: 2 Dissertação - Tamara Naiz da Silva - 2013.pdf: 3658719 bytes, checksum: c0f6341aa487e5216c1c86e229cd24bb (MD5) license_rdf: 23148 bytes, checksum: 9da0b6dfac957114c6a7714714b86306 (MD5) / Made available in DSpace on 2016-02-11T11:43:38Z (GMT). No. of bitstreams: 2 Dissertação - Tamara Naiz da Silva - 2013.pdf: 3658719 bytes, checksum: c0f6341aa487e5216c1c86e229cd24bb (MD5) license_rdf: 23148 bytes, checksum: 9da0b6dfac957114c6a7714714b86306 (MD5) Previous issue date: 2013-11-21 / This dissertation presents the relationship of conflict between capital and labor, especially in Brazil, in the 1990s, due to the movement of financial globalization. More than that, it intends to present this confrontation was part of a general movement of autonomous capital appreciation, which permeated the world in the last three decades of the twentieth century. Movement that meant the consolidation of a new pattern of accumulation to the detriment of the fordist pattern and the wage society, constituted in post-second war. This transition has unleashed, worldwide, an intense and complex process of economic, political and social transformations, from the end of the 1970s, based on phenomena of global dimension, that blend and complement each other as determinants ingredients of this new moment of capitalism on a planetary scale; between these elements, the neoliberalism, the restructuring and the deregulation productive and the financial globalization. It should be noted that, at this stage of capitalism is glaring, the primacy of the market over society. Primacy reinforced by the government institutionalism that, through various measures, contributed to the successful transition towards forming a pattern of global accumulation predominantly financial, culminating in a huge penalization of the world of work. From this perspective, this dissertation analyzes specifically this process in Brazil, but with special focus from the implementation of the economic stabilization plan started with the Real Plan, here identified as the key moment for this transition could be consolidated at a national level. It is worth making clear that this broad movement of changing in the foundations of capital appreciation resulted in an intense process of deregulation and restructuring of production, which, joined to the liberalizing policies, had as interface the fragilization of the labor market and of the wage society, as well as worsening of social exclusion in Brazil. / A presente dissertação apresenta a relação de embate entre capital e trabalho, especialmente no Brasil, nos anos 1990, face ao movimento de mundialização financeira. Mais que isso, pretende apresentar que este embate fez parte de um movimento geral de revalorização autônoma do capital, que permeou o mundo nas últimas três décadas do século XX. Movimento que pretendia a consolidação de um novo padrão de acumulação, em detrimento do padrão fordista e da sociedade salarial, constituídos no pós-segunda guerra. Essa transição desencadeou, mundialmente, um intenso e complexo processo de transformações econômicas, políticas e sociais a partir do final da década de 1970, alicerçado em fenômenos de dimensão global, que se misturam e se complementam como ingredientes determinantes desse novo momento do capitalismo em escala planetária, entre estes elementos o neoliberalismo; a reestruturação e a desregulamentação produtiva e a globalização financeira. Ressalte-se que nesta fase do capitalismo é gritante a primazia do mercado sobre a sociedade. Primazia reforçada pela institucionalidade governamental que por meio de diversas medidas, contribuiu para a transição exitosa rumo à conformação de um padrão de acumulação global predominantemente financeiro e que culminou em uma enorme penalização do mundo do trabalho. A partir dessa perspectiva, esta dissertação analisa, especificamente, este processo no Brasil, mas com enfoque especial a partir da implementação do plano de estabilização econômica iniciado com Plano Real, identificado aqui como momento-chave para que essa transição pudesse ser consolidada em nível nacional. Cabe deixar evidente que, esse amplo movimento de mudanças nas bases da valorização do capital teve como resultado um intenso processo de desregulamentação e reestruturação produtiva, que juntado as políticas liberalizantes teve como interface a fragilização do mercado de trabalho e da sociedade salarial, assim como agravamento da exclusão social no Brasil.

<p>Finansijalizacija je globalni fenomen. Termin se odnosi na promenu<br />statusa ekonomske sfere od početka sedamdesetih godina XX veka i<br />prouzrokovanje kretanja ogromne količine finansijske mase svetskim<br />tržištem. Rad istražuje kako se ova pojava odrazila na urbana<br />područja i pojavu ubrzane &quot;proizvodnje prostora&quot; u periodu od početka<br />XXI veka do danas. Cilj je utvrđivanje kriterijuma na osnovu kojih se<br />definišu karakteristične urbane tipologije u vojvođanskim<br />naseljima, koja su predmet komparativne analize. Značenje, uticaj i<br />posledice opisanog procesa, a samim tim i identifikacija uzroka,<br />predstavljaju mogućnosti za sprečavanje negativnih efekata ili<br />njihovo isticanje u cilju poboljšanja kvaliteta urbanog života.</p> / <p>Financialization is a global phenomenon. Тhe term refers to the change in<br />the status of the economic sphere since the early seventies and causing the<br />movement of huge amounts of financial mass appeared on the world market.<br />This paper studies how this phenomenon has reflected upon the urban areas<br />and the emergence of accelerated &quot;production of space&quot; for the period from<br />the beginning of the 21st century till present. The goal is establishing criteria<br />based of which we determine the characteristic urban typologies in<br />settlements of Vojvodina, which are subject of the comparative analysis.<br />Meaning, impact and consequences of the described process, and thus the<br />identification of the causes, present possibilities to prevent negative<br />consequences or to point them out in order to improve quality of urban life.</p>