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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... shares its name and which was the original site of the state's famous industrialization. The city of São Paulo is a visual metaphor for capitalist development; it is a rambling metropolis, packed with skyscrapers and high-rise apartment ...
... shares to another willing investor. Because shares were transferable, investors were able to sell those shares if the company did not match their comfort level of risk taking. This important secondary market spread risk, introduced ...
... shares. They then used the capital they raised to fund family-based businesses, many of them industrial ventures. This was a twist on what families had done for centuries. By adapting the increasingly common institutional framework to ...
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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 | |