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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... commercial credit, lent at the short term.31 While this was an important development in the preindustrial economy ... banks, among other financial innovations, in the nineteenth century. These banks were able to lend funds for ...
... commercial banking, leaving France with no institutional source of long term credit after 1880. The absence of alternatives for largescale capital mobilization meant that France's industrial sector would be characterized by single ...
... banks failed, although not without first destroying the banking business of the Parisian notaries.41 Britain's financial institutions in the nineteenth century remained almost exclusively dedicated to commercial banking even in the face ...
... banks themselves were victims; none of the three survived past the turn of the twentieth century. While bankers were not much interested in investment banking, they were more than happy to continue offering their commercial banking ...
... banks were commercial banks. Commercial banks were banks that specialized in shortterm, commerce-based transactions. Their funds came from investors and depositors, and their business was to discount commercial paper and extend lines of ...
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 | |