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 75
... banks and stock exchanges to check-cashing stores and wealthy relatives, capital markets gather loose change from a broad range of places. In their scattered form these funds would probably be insufficient to finance a large loan, but ...
... banks, among other financial innovations, in the nineteenth century. These banks were able to lend funds for considerably longer periods of time, such as the modern-day 30-year mortgage, thus allowing firms to make lumpy capital ...
... lender or else there would be no way to determine their creditworthiness. Moreover, the lender was most likely in a ... loan to make his idea into a business. Although the Parisian notaries provided a relatively impersonal market, in ...
... mortgage bank, and the Crédit Mobilier, an investment bank, either failed in the Great Depression of 1870 or abandoned long-term lending for commercial banking, leaving France with no institutional source of long term credit after 1880 ...
... mortgage banks typically lend at the very long term, from five to fifty years. Universal banks combine short-term ... bank lending and institutional stability are conditioned by the presence or absence of a network in which they operate ...
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 | |