A regulação financeira sob análise no Brasil e nos EUA
Autor(a) principal: | |
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Data de Publicação: | 2017 |
Tipo de documento: | Dissertação |
Idioma: | por |
Título da fonte: | Biblioteca Digital de Teses e Dissertações da PUC_SP |
Texto Completo: | https://tede2.pucsp.br/handle/handle/19897 |
Resumo: | The purpose of this dissertation is to analyze and propose changes in financial regulation from a Marxist-Keynesian point of view. This study is justified by the lack of social meaning in the functioning of the financial system. From the 1960s, fictitious capital began to take the productive economy more and more. Tax havens serve the wealthiest individuals and large corporations by allowing them to evade rules and taxes they would otherwise be compelled to meet. The financial crisis of 2008 let the dimension of those capitals be clear, which started to withdraw banking and financial regulation and supervision, allowing them to create new financial investments that turned non-bank institutions equivalent to bank institutions. To that end, these shadow banks were financed with customer deposits and invested in securities such as CDOs from subprime mortgages. When mortgage borrowers began to default, the entire system succumbed and carried with them the whole US economy, a priori, and the world economy after. Brazil, however, is involved in another way, by practicing the highest real rates of interest in the world. This fact allows the financial intermediaries to puncture a significant proportion of the productive wealth of families and companies, channeling it to the financial system. High rates of interest also affect the public sector by compromising the government budget with financial expenses instead of expending in public education, healthcare and infrastructure, for example. It is upon governments to restate the order of the financial sector, by enforcing laws that keep the financial system under strict supervision, and extend its scope to newly created innovations. The rates on capital gains and on fortunes should be instituted and raised and the usury crime regulated, establishing a ceiling for real rates of interest in Brazil |
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Dowbor, LadislauFernandes, Matheus da Silva2017-03-29T12:28:05Z2017-03-22Fernandes, Matheus da Silva. A regulação financeira sob análise no Brasil e nos EUA. 2017. 96 f. Dissertação (Mestrado em Economia Política) - Programa de Estudos Pós-Graduados em Economia Política, Pontifícia Universidade Católica de São Paulo, São Paulo, 2017.https://tede2.pucsp.br/handle/handle/19897The purpose of this dissertation is to analyze and propose changes in financial regulation from a Marxist-Keynesian point of view. This study is justified by the lack of social meaning in the functioning of the financial system. From the 1960s, fictitious capital began to take the productive economy more and more. Tax havens serve the wealthiest individuals and large corporations by allowing them to evade rules and taxes they would otherwise be compelled to meet. The financial crisis of 2008 let the dimension of those capitals be clear, which started to withdraw banking and financial regulation and supervision, allowing them to create new financial investments that turned non-bank institutions equivalent to bank institutions. To that end, these shadow banks were financed with customer deposits and invested in securities such as CDOs from subprime mortgages. When mortgage borrowers began to default, the entire system succumbed and carried with them the whole US economy, a priori, and the world economy after. Brazil, however, is involved in another way, by practicing the highest real rates of interest in the world. This fact allows the financial intermediaries to puncture a significant proportion of the productive wealth of families and companies, channeling it to the financial system. High rates of interest also affect the public sector by compromising the government budget with financial expenses instead of expending in public education, healthcare and infrastructure, for example. It is upon governments to restate the order of the financial sector, by enforcing laws that keep the financial system under strict supervision, and extend its scope to newly created innovations. The rates on capital gains and on fortunes should be instituted and raised and the usury crime regulated, establishing a ceiling for real rates of interest in BrazilA presente dissertação tem objetivo de analisar e propor mudanças na regulação financeira sob a ótica marxista-keynesiana, e seu estudo se justifica pela falta do sentido social no funcionamento do sistema financeiro. A partir da década de 1960, o capital fictício passou a se apropriar cada vez mais da economia produtiva. Os paraísos fiscais servem aos indivíduos mais ricos e às grandes corporações ao permiti-los evadir de regras e tributações que, caso contrário, estariam compelidos a cumprir. A crise financeira de 2008 deixou clara a dimensão desses capitais, que passaram a operar arredios da regulação e supervisão financeira e bancária, os permitindo criar novas aplicações financeiras que tornavam instituições não-bancárias equivalentes às instituições bancárias. Para tanto, estes shadow banks se financiavam com depósitos dos clientes e aplicavam em títulos como os CDOs de hipotecas subprime. Quando os mutuários destas hipotecas começaram a calotear, todo o sistema derivado deles sucumbiu e levou consigo toda a economia dos EUA a priori, e mundial em seguida. O Brasil, contudo, se insere na finança mundial de outra forma, pela cobrança das maiores taxas de juros reais do mundo. Esse fato permite aos intermediários financeiros punçar uma relevante proporção da riqueza produtiva das famílias e das empresas, a canalizando para o sistema financeiro. Elevadas taxas de juros também afetam o setor público ao comprometer o orçamento do governo com gastos financeiros à revelia das despesas em educação, saúde e infraestrutura públicas, por exemplo. Cabe aos governos retomar a ordem do setor financeiro, pela aplicação de leis que mantenham o sistema financeiro sobre estrita supervisão, além de ampliar sua abrangência para as inovações criadas recentemente. Devem ser instituídas e elevadas as alíquotas sobre os ganhos de capital e sobre grandes fortunas e regulamentado o crime de usura, estabelecendo um teto para as taxas de juros reais no Brasilapplication/pdfhttp://tede2.pucsp.br/tede/retrieve/41676/Matheus%20da%20Silva%20Fernandes.pdf.jpgporPontifícia Universidade Católica de São PauloPrograma de Estudos Pós-Graduados em Economia PolíticaPUC-SPBrasilFaculdade de Economia, Administração, Contábeis e AtuariaisInstituições financeiras - RegulaçãoCrise econômica - 2008Taxa de jurosFinancial regulationFinancial crisis of 2008Rate of interestCNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIAA regulação financeira sob análise no Brasil e nos EUAFinancial regulation under analysis in Brazil and the US Theinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisinfo:eu-repo/semantics/openAccessreponame:Biblioteca Digital de Teses e Dissertações da PUC_SPinstname:Pontifícia Universidade Católica de São Paulo (PUC-SP)instacron:PUC_SPTEXTMatheus da Silva Fernandes.pdf.txtMatheus da Silva Fernandes.pdf.txtExtracted texttext/plain202506https://repositorio.pucsp.br/xmlui/bitstream/handle/19897/4/Matheus%20da%20Silva%20Fernandes.pdf.txt89914239edcc363e9925c8f4f5694e46MD54LICENSElicense.txtlicense.txttext/plain; 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dc.title.por.fl_str_mv |
A regulação financeira sob análise no Brasil e nos EUA |
dc.title.alternative.eng.fl_str_mv |
Financial regulation under analysis in Brazil and the US The |
title |
A regulação financeira sob análise no Brasil e nos EUA |
spellingShingle |
A regulação financeira sob análise no Brasil e nos EUA Fernandes, Matheus da Silva Instituições financeiras - Regulação Crise econômica - 2008 Taxa de juros Financial regulation Financial crisis of 2008 Rate of interest CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA |
title_short |
A regulação financeira sob análise no Brasil e nos EUA |
title_full |
A regulação financeira sob análise no Brasil e nos EUA |
title_fullStr |
A regulação financeira sob análise no Brasil e nos EUA |
title_full_unstemmed |
A regulação financeira sob análise no Brasil e nos EUA |
title_sort |
A regulação financeira sob análise no Brasil e nos EUA |
author |
Fernandes, Matheus da Silva |
author_facet |
Fernandes, Matheus da Silva |
author_role |
author |
dc.contributor.advisor1.fl_str_mv |
Dowbor, Ladislau |
dc.contributor.author.fl_str_mv |
Fernandes, Matheus da Silva |
contributor_str_mv |
Dowbor, Ladislau |
dc.subject.por.fl_str_mv |
Instituições financeiras - Regulação Crise econômica - 2008 Taxa de juros |
topic |
Instituições financeiras - Regulação Crise econômica - 2008 Taxa de juros Financial regulation Financial crisis of 2008 Rate of interest CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA |
dc.subject.eng.fl_str_mv |
Financial regulation Financial crisis of 2008 Rate of interest |
dc.subject.cnpq.fl_str_mv |
CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA |
description |
The purpose of this dissertation is to analyze and propose changes in financial regulation from a Marxist-Keynesian point of view. This study is justified by the lack of social meaning in the functioning of the financial system. From the 1960s, fictitious capital began to take the productive economy more and more. Tax havens serve the wealthiest individuals and large corporations by allowing them to evade rules and taxes they would otherwise be compelled to meet. The financial crisis of 2008 let the dimension of those capitals be clear, which started to withdraw banking and financial regulation and supervision, allowing them to create new financial investments that turned non-bank institutions equivalent to bank institutions. To that end, these shadow banks were financed with customer deposits and invested in securities such as CDOs from subprime mortgages. When mortgage borrowers began to default, the entire system succumbed and carried with them the whole US economy, a priori, and the world economy after. Brazil, however, is involved in another way, by practicing the highest real rates of interest in the world. This fact allows the financial intermediaries to puncture a significant proportion of the productive wealth of families and companies, channeling it to the financial system. High rates of interest also affect the public sector by compromising the government budget with financial expenses instead of expending in public education, healthcare and infrastructure, for example. It is upon governments to restate the order of the financial sector, by enforcing laws that keep the financial system under strict supervision, and extend its scope to newly created innovations. The rates on capital gains and on fortunes should be instituted and raised and the usury crime regulated, establishing a ceiling for real rates of interest in Brazil |
publishDate |
2017 |
dc.date.accessioned.fl_str_mv |
2017-03-29T12:28:05Z |
dc.date.issued.fl_str_mv |
2017-03-22 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
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masterThesis |
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publishedVersion |
dc.identifier.citation.fl_str_mv |
Fernandes, Matheus da Silva. A regulação financeira sob análise no Brasil e nos EUA. 2017. 96 f. Dissertação (Mestrado em Economia Política) - Programa de Estudos Pós-Graduados em Economia Política, Pontifícia Universidade Católica de São Paulo, São Paulo, 2017. |
dc.identifier.uri.fl_str_mv |
https://tede2.pucsp.br/handle/handle/19897 |
identifier_str_mv |
Fernandes, Matheus da Silva. A regulação financeira sob análise no Brasil e nos EUA. 2017. 96 f. Dissertação (Mestrado em Economia Política) - Programa de Estudos Pós-Graduados em Economia Política, Pontifícia Universidade Católica de São Paulo, São Paulo, 2017. |
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https://tede2.pucsp.br/handle/handle/19897 |
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por |
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Pontifícia Universidade Católica de São Paulo |
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Programa de Estudos Pós-Graduados em Economia Política |
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PUC-SP |
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Brasil |
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Faculdade de Economia, Administração, Contábeis e Atuariais |
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Pontifícia Universidade Católica de São Paulo |
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