Native Capital: Financial Institutions and Economic Development in São Paulo, Brazil, 1850-1920
This 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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... legislation, provided crucial mechanisms through which the abundant wealth generated by the coffee boom wound its way into the urban commercial and industrial companies that transformed São Paulo. Capital markets are institutions or ...
... as unit banks or they might operate as part of a branch network, depending on what the government regulatory legislation allows. Unit banks stand alone as selfcontained businesses, while branch banks are part of a network. The.
... that built São Paulo's industrial base (investment). Stimulated by economic expansion on the one hand and regulatory legislation on the other, these increasingly formal institutions channeled the seemingly limitless wealth generated by.
... legislation that had done so little for domestic development, replacing it with permissive legislation that relieved companies and their investors of virtually all fiscal responsibility. Under the new regulatory environment of the ...
... institutions had to become increasingly modern and sophisticated to serve the changing economy. Private initiative and government regulatory legislation helped effect this transition. By the - Native Capital under the Empire.