Native Capital: Financial Institutions and Economic Development in São Paulo, Brazil, 1850-1920This book studies the development of banks and stock and bond exchanges in São Paulo, Brazil, during an era of rapid economic diversification. It assesses the contribution of these financial institutions to that diversification, and argues that they played an important role in São Paulo's urbanization and industrialization by the start of the twentieth century. It finds that government regulatory policy was important in limiting and shaping the activities of these institutions, but that pro-development policies did not always have their intended effects. This is the first book on São Paulo's famous industrialization to identify the strong relationship between financial institutions and São Paulo's economic modernization at the turn of the century. It is unique in Brazilian economic history, but contributes to a body of literature on financial systems and economic change in other parts of the world. |
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... coffee production by the turn of the twentieth century. As late as 1880, however, this region showed no signs that it would become the economic center of the country. São Paulo had been a virtual backwater in the nineteenth century ...
... coffee increased the volume and pace of export business, created demand for agricultural machinery and implements that stimulated domestic machinery and metalworking, drove domestic textile production by needing millions upon millions ...
... production for internal consumption existed to support the urban centers, primarily agricultural in nature, but the ... coffee at midcentury took place via middleman and mule train, both of which were to experience significant changes ...
... coffee plantations enough to keep up with world demand. Coffee production doubled from the 1840s to the 1870s, and doubled again by the 1890s.8 At the very same time, the labor supply was precarious. The Brazilian slave population had ...
... production, the expansion of the coffee trade also generated new capital requirements to improve the physical infrastructure of the export system. The export trade had traditionally relied on mule trains to get product to market. This ...
Contents
Brokers and Business Finance under the Empire | |
The Republican Revolution and the Rise of | |
The Republican Revolution and the Failure | |
Commercial Banking and the Business | |
Conclusions | |
NOTES | |
BIBLIOGRAPHY | |
INDEX | |