Subordinate financialization of real estate development in the semi-peripheries of the global capital. The case of Romania [Ioana Florea & Enikő Vincze]

Paper presented at the XII Portuguese Congress of Sociology organized at Coimbra University with the title: Polarized societies? Challenges for sociology, Session on Classes, inequalities, and public policies – Capitalism and social policies.

Ioana Florea and Enikő Vincze presented some of the REDURB results about the financialization of real estate development in the semiperipheral country of Romania, displaying specific features of subordinate financialization at the level of the country and in two local contexts, i.e., in the second-tier city of Cluj-Napoca and the third-tier city of Bârlad.

One of the ideas of the paper launched for discussion was that the semiperipheries of Southern and Eastern Europe (for example, Portugal and Romania) reveal some similarities and differences in their roles in the global financialization of real estate development, which needs to be studied further.