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. |
From inside the book
Results 1-5 of 65
... formed at mid-century. 35 The great banks that formed after 1850, including the Crédit Foncier, a mortgage bank, and the Crédit Mobilier, an investment bank, either failed in the Great Depression of 1870 or abandoned long-term lending ...
... formed banks in order to draw on the savings pool of their community through the sale of shares. They then used the capital they raised to fund family-based businesses, many of them industrial ventures. This was a twist on what families ...
... formed and what importance their form had for economic growth was a function of regulatory environments and economic conditions. Therefore, we need to investigate the formation of capital market institutions and their interaction with ...
... formed during the coffee boom “might use some of their credit- creating capacity to finance manufactures,” while Wilson Cano noted that planters cultivating less productive lands would have had reason to diversify their investments to ...
... formed companies out of business. The investment 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 ...
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 | |