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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... firms that produced synthetic insecticides , drying and roasting plants that prepared coffee for the market , and textile firms that wove rough sacks to ship the coffee beans . The demand for inputs for the coffee business created a ...
... firms and warehouses to tool and textile manufacturing facilities, to both profit from the expanded chain of transactions and to protect their assets from overexposure to the vagaries of weather and soil conditions. São Paulo emerged ...
... firm or series of correspondents to acquire better information about the market as well as to spread risk. With the vast new overseas trade routes opened as a result of the fifteenth- and sixteenth-century voyages of discovery, merchant ...
... firms to make lumpy capital investments that required some time to bear fruit. These features of formal institutions—their larger pools and the possibility for longer-terms loans—were especially important in the industrial age, when the ...
... firms needed for day-to-day operations. 34 Britain had the luxury of industrializing first and therefore developing the required supporting institutions at its leisure. Later industrializers did not have this same luxury. They were ...
Contents
1 | |
Brokers and Business Finance under the Empire | |
The Republican Revolution and the Rise of | |
The Republican Revolution and the Failure | |
1 | |
Commercial Banking and the Business | |
TABLE A 4 | |
Conclusions | |
TABLE A 7 | |
NOTES | |
BIBLIOGRAPHY | |
INDEX | |