Financialization and Space: Theoretical and Empirical Contributions

Financeirização e Espaço: Contribuições Teóricas e Empíricas

Abstract

Financialization has evolved as a macro concept arising from the increased significance of finance in all aspects of social and economic relations. The present paper attempts to raise awareness on the importance of understanding financialization from a spatial standpoint. Drawing from the interactions between finance and space, the main idea put forward in this paper is to incorporate a multilayered perspective of relational space as a direct determinant of the process of financialization. Once such a suggestion is accredited, an improved, more refined concept may better inform research and public debate on the effects of financialization, expressly those related to land use (and value) and to urban social exclusion. A preliminary analysis is conducted for a number of municipalities in Brazil.

Keywords:
Financialization; Regions; Financial System; Financial Services; Development