New institutions, old organizations: legal reforms in the Brazilian housing finance

Detalhes bibliográficos
Autor(a) principal: Schapiro, Mario Gomes
Data de Publicação: 2019
Outros Autores: Pereira, Saylon Alves
Tipo de documento: Artigo
Idioma: por
Título da fonte: Revista Direito GV
Texto Completo: https://periodicos.fgv.br/revdireitogv/article/view/80714
Resumo: In the last decades, several developing countries have undertaken market-oriented institutional reforms in different sectors. This paper aims to evaluate the reform of the Brazilian housing finance. For this purpose, it describes the reform “in books” and "in action", in other words, the enforcement of new legal tools. Regarding the enforcement, this paper assessed a sample of 1,007 court decisions about the Real-State Finantial System (Sistema Financeiro Imobiliário - SFI), and it shows that creditors succeeded more than debtors. Despite an environment of legal security, it has not provided a complete financial transition from the state finantial model to a market model. The state-led arrangement is still the key player in the housing finance. The most apparent effect of the reform is the repositioning of old state organizations in the new institutional frameworks. Such conclusion suggests that privatization is not necessarily a clear-cut transition between two models, but a process that is subjected to marked accommodations by factors of resilience and institutional transformation.
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spelling New institutions, old organizations: legal reforms in the Brazilian housing financeUm palacete assobradado: a coexistência entre organizações estatais e instituições de mercado no financiamento habitacional brasileiroLegal reformsHousingFinancingInstitutional reformReal estate financial systemReformas jurídicasHabitaçãoFinanciamentoReforma institucionalSistema financeiro imobiliárioIn the last decades, several developing countries have undertaken market-oriented institutional reforms in different sectors. This paper aims to evaluate the reform of the Brazilian housing finance. For this purpose, it describes the reform “in books” and "in action", in other words, the enforcement of new legal tools. Regarding the enforcement, this paper assessed a sample of 1,007 court decisions about the Real-State Finantial System (Sistema Financeiro Imobiliário - SFI), and it shows that creditors succeeded more than debtors. Despite an environment of legal security, it has not provided a complete financial transition from the state finantial model to a market model. The state-led arrangement is still the key player in the housing finance. The most apparent effect of the reform is the repositioning of old state organizations in the new institutional frameworks. Such conclusion suggests that privatization is not necessarily a clear-cut transition between two models, but a process that is subjected to marked accommodations by factors of resilience and institutional transformation.Nas últimas décadas, vários países em desenvolvimento realizaram reformas institucionais orientadas para o mercado. Este trabalho avalia a reforma do financiamento habitacional brasileiro. Para tanto, analisa a reforma “nos livros” e “em ação”, ou seja, a aplicação dos dispositivos jurídicos pelo Judiciário. Foram analisadas 1.007 decisões judiciais sobre o Sistema Financeiro Imobiliário (SFI), e os resultados indicam que os credores tiveram mais sucesso do que os devedores nos tribunais. Apesar do ambiente de segurança jurídica, não houve uma transição financeira completa do modelo estatal de financiamento para um modelo de mercado. O arranjo liderado pelo Estado ainda é o elemento-chave no financiamento habitacional. O efeito mais evidente da reforma foi o reposicionamento das antigas organizações estatais nos novos marcos institucionais. Essa conclusão sugere que a privatização não é necessariamente uma transição clara entre dois modelos, mas um processo sujeito a acomodações balizadas pelos fatores de resiliência e transformação institucional.Escola de Direito de São Paulo da Fundação Getulio Vargas2019-11-25info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://periodicos.fgv.br/revdireitogv/article/view/80714Revista Direito GV; Vol. 15 No. 3 (2019): set-dez. (34); e1936Revista Direito GV; Vol. 15 Núm. 3 (2019): set-dez. (34); e1936Revista Direito GV; v. 15 n. 3 (2019): set-dez. (34); e19362317-6172reponame:Revista Direito GVinstname:Fundação Getulio Vargas (FGV)instacron:FGVporhttps://periodicos.fgv.br/revdireitogv/article/view/80714/77055Copyright (c) 2019 Revista Direito GVinfo:eu-repo/semantics/openAccessSchapiro, Mario GomesPereira, Saylon Alves2019-11-26T14:00:17Zoai:ojs.periodicos.fgv.br:article/80714Revistahttps://direitosp.fgv.br/publicacoes/revista/revista-direito-gvPRIhttps://old.scielo.br/oai/scielo-oai.php||revistadireitogv@fgv.br|| catarina.barbieri@fgv.br2317-61721808-2432opendoar:2019-11-26T14:00:17Revista Direito GV - Fundação Getulio Vargas (FGV)false
dc.title.none.fl_str_mv New institutions, old organizations: legal reforms in the Brazilian housing finance
Um palacete assobradado: a coexistência entre organizações estatais e instituições de mercado no financiamento habitacional brasileiro
title New institutions, old organizations: legal reforms in the Brazilian housing finance
spellingShingle New institutions, old organizations: legal reforms in the Brazilian housing finance
Schapiro, Mario Gomes
Legal reforms
Housing
Financing
Institutional reform
Real estate financial system
Reformas jurídicas
Habitação
Financiamento
Reforma institucional
Sistema financeiro imobiliário
title_short New institutions, old organizations: legal reforms in the Brazilian housing finance
title_full New institutions, old organizations: legal reforms in the Brazilian housing finance
title_fullStr New institutions, old organizations: legal reforms in the Brazilian housing finance
title_full_unstemmed New institutions, old organizations: legal reforms in the Brazilian housing finance
title_sort New institutions, old organizations: legal reforms in the Brazilian housing finance
author Schapiro, Mario Gomes
author_facet Schapiro, Mario Gomes
Pereira, Saylon Alves
author_role author
author2 Pereira, Saylon Alves
author2_role author
dc.contributor.author.fl_str_mv Schapiro, Mario Gomes
Pereira, Saylon Alves
dc.subject.por.fl_str_mv Legal reforms
Housing
Financing
Institutional reform
Real estate financial system
Reformas jurídicas
Habitação
Financiamento
Reforma institucional
Sistema financeiro imobiliário
topic Legal reforms
Housing
Financing
Institutional reform
Real estate financial system
Reformas jurídicas
Habitação
Financiamento
Reforma institucional
Sistema financeiro imobiliário
description In the last decades, several developing countries have undertaken market-oriented institutional reforms in different sectors. This paper aims to evaluate the reform of the Brazilian housing finance. For this purpose, it describes the reform “in books” and "in action", in other words, the enforcement of new legal tools. Regarding the enforcement, this paper assessed a sample of 1,007 court decisions about the Real-State Finantial System (Sistema Financeiro Imobiliário - SFI), and it shows that creditors succeeded more than debtors. Despite an environment of legal security, it has not provided a complete financial transition from the state finantial model to a market model. The state-led arrangement is still the key player in the housing finance. The most apparent effect of the reform is the repositioning of old state organizations in the new institutional frameworks. Such conclusion suggests that privatization is not necessarily a clear-cut transition between two models, but a process that is subjected to marked accommodations by factors of resilience and institutional transformation.
publishDate 2019
dc.date.none.fl_str_mv 2019-11-25
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://periodicos.fgv.br/revdireitogv/article/view/80714
url https://periodicos.fgv.br/revdireitogv/article/view/80714
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://periodicos.fgv.br/revdireitogv/article/view/80714/77055
dc.rights.driver.fl_str_mv Copyright (c) 2019 Revista Direito GV
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2019 Revista Direito GV
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Escola de Direito de São Paulo da Fundação Getulio Vargas
publisher.none.fl_str_mv Escola de Direito de São Paulo da Fundação Getulio Vargas
dc.source.none.fl_str_mv Revista Direito GV; Vol. 15 No. 3 (2019): set-dez. (34); e1936
Revista Direito GV; Vol. 15 Núm. 3 (2019): set-dez. (34); e1936
Revista Direito GV; v. 15 n. 3 (2019): set-dez. (34); e1936
2317-6172
reponame:Revista Direito GV
instname:Fundação Getulio Vargas (FGV)
instacron:FGV
instname_str Fundação Getulio Vargas (FGV)
instacron_str FGV
institution FGV
reponame_str Revista Direito GV
collection Revista Direito GV
repository.name.fl_str_mv Revista Direito GV - Fundação Getulio Vargas (FGV)
repository.mail.fl_str_mv ||revistadireitogv@fgv.br|| catarina.barbieri@fgv.br
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