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
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... nineteenth century. These are “Bco.” for the word banco, or bank; and “Cia.” for the word companhia, or company. These abbreviations appear occasionally in the text and more frequently in the tables. TRANSLATIONS All translations are by ...
... nineteenth century. Coffee had arrived in Brazil in the eighteenth century, but was produced on a large scale for export only in the nineteenth. Once international demand proved to be strong, coffee plantations quickly expanded to ...
... century. As late as 1880, however, this region showed no signs that it would become the economic center of the country. São Paulo had been a virtual backwater in the nineteenth century, sparsely populated and better known for its ...
... nineteenth century.29 Other domestic entrepreneurs, from bakers to silversmiths, depended on the extension of credit from merchants and religious institutions to operate their businesses.30 Modern, formal financial institutions that had ...
... 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 investments that required some time to bear fruit. These ...
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 | |