SPACE PRODUCTION AND FINANCIALIZATION OF THE MODERN TERTIARY SECTOR IN THE BRAZILIAN REGIONAL PERIPHERY

Abstract

The article aims to analyze the process of socio-spatial restructuring that has been promoted in the Metropolitan Region of Belém by the entry of new economic groups in the metropolis, both national and global, which are now competing with regional trade groups. Unable to maintain themselves at the same competitive level, the local groups have resorted to their reserves of value in urban land in the metropolitan space, which feeds the recent restructuring dynamics. The methodology begins with a literature review on the concept of associated capitalism, in order to support a territorial reading of the hypothesis of the reserved orbits of accumulation, which is then combined with the analysis of empirical data collected mainly in quarterly and annual reports of publicly traded groups that have inserted themselves in the metropolitan economy in recent years. The conclusions highlight that the restructuring processes currently designed occur as a response to the changes in the economic cycle and to the advances in the tendencies towards financialization of the Brazilian economy, even though they are expressed in a differentiated manner on a regional scale and in the metropolis of Pará they present a pattern of dynamic complementarity with elites that owns urban land.