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 69
... Railroad in 1867 opened up the Paulista West to large-scale coffee production for the first time by connecting hinterland to port. This new line, and the domestic railroad development it spurred, acted as a great stimulus to commercial ...
... railroads and public utilities found any backers, and these were only able to do so because of explicit or implicit promises of government financial support. The coffee boom, then, created a significant tension in the economy between ...
... railroad and utilities stocks quickly organized a formal stock and bond exchange. The São Paulo Bolsa, as it was known, became the premier institution for business finance and is the subject of Chapter 4. After a decade of slow but ...
... railroad network to the electrification of interior towns was funded with native Paulista capital via formal financial institutions established by local entrepreneurs. This institutional development, combined with its maturation from ...
... railroad networks and improve port facilities. In order to expand plantations and improve the physical infrastructure, Brazilians needed money. The static capital resources of the Brazilian economy, captured in property, slaves, and ...
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 | |