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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... lending out a portion of his or her money, the decision-making process would be dramatically simplified, but access to these funds would likely be made available only to known neighbors, relatives, and business contacts. In the days ...
... Lending was based on personal connections and was limited by the willingness of the lender to assume risks. Information and trust were paramount. The advent of modern financial institutions, the most common of which are banks and ...
... lending money at interest. But the Church, as well as good Christian businessmen, found ways around usury laws that smoothed the functioning of capital markets through the ages. Italian bankers, for example, dealt not in loans but in ...
... lending institution in the colonial era. One particularly lucrative type of loan for the Mexican Church was a mechanism known as the censo, an ecclesiastical mortgage that put up a landed estate as collateral against a long-term line of ...
... most transactions took place on the basis of credit, meaning no money actually changed hands. Lending money at interest, whether to business partners or relatives, was a natural next step. Colonial documents suggest that.
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 | |