Financeirização do imobiliário no Brasil: uma análise dos Certificados de Recebíveis Imobiliários (2005-2020)
This work seeks to understand the financialization process of real estate in Brazil focusing on securitization operations, created in order to connect the real estate market to the capital market. The analysis is based on a sample of data on Real Estate Receivables Certificates (CRI) issued between...
| Autores: | , , |
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| Formato: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2022 |
| País: | Brasil |
| Recursos: | Universidade Federal de Minas Gerais (UFMG) |
| Repositorio: | Repositório Institucional da UFMG |
| Idioma: | portugués |
| OAI Identifier: | oai:repositorio.ufmg.br:1843/59968 |
| Acesso em linha: | https://doi.org/10.1590/2236-9996.2022-5302 http://hdl.handle.net/1843/59968 https://orcid.org/0000-0002-7450-5031 https://orcid.org/0000-0002-4298-455X https://orcid.org/0000-0003-1741-7665 |
| Access Level: | acceso abierto |
| Palavra-chave: | Financeirização Crédito habitacional Sistema financeiro imobiliário Fundos de investimento imobiliário Securitização Índice de fundos de investimento imobiliário Análise de crédito |
| Resumo: | This work seeks to understand the financialization process of real estate in Brazil focusing on securitization operations, created in order to connect the real estate market to the capital market. The analysis is based on a sample of data on Real Estate Receivables Certificates (CRI) issued between 2005 and 2020, mapping the interests and interactions between agents involved in the assignment of real estate credits. It shows the limited capacity of CRI (and other instruments) for housing finance. Nevertheless, it has played a fundamental role for the financial sector: the acceleration of the capital reproduction cycle in the real estate sector and the absorption of real estate wealth under investment funds. |
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