Financialization, urban governance and corporate power in Brazilian cities

Abstract

The financialization of the global economy and its multiple consequences have been increasingly debated by the specialized literature, especially in the aftermath of the 2007-2008 global crisis. In this context, the relationships between financial markets and economic sectors traditionally associated with the production of urban space are particularly relevant for a better understanding of urban development in the beginning of the 21st century. The hypothesis is that a financial-real estate-urban coalition has emerged and is becoming hegemonic while leading the abovementioned development. The present study aims to better comprehend that coalition, its power in the municipalities and, foremost, its territorial variations. To achieve this, electoral funding data are analyzed, with results indicating that the agents related to urban accumulation are predominant only in the main Brazilian metropolises.