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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... funds would probably be insufficient to finance a large loan, but when they are consolidated by capital market ... funds. If a particular individual was well-off and predisposed to lending out a portion of his or her money, the decision ...
... funds. They could go to a bank and tap the resources of savers they never met, or go to the stock market with an idea and a little seed money and raise capital from investors in another community entirely. By drawing in resources from a ...
... funds and a wide network of potential borrowers. Notaries placed the surplus funds of some of their clients in longterm loans to others of their clientele, and appear to have provided the only significant source of funds for domestic ...
... funds to domestic enterprise and consumers. That the Church was an important creditor in the early modern world is widely recognized as ironic since the Church had laws against usury, which prohibited lending money at interest. But the ...
... funds for investment and consumption. Local economic fortunes no longer posed as significant a constraint on the possibilities for investment and growth. Not only did formal institutions create a larger pool of capital, they could lend ...
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 | |