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 79
... stock and bond exchanges became important sources of credit, both for business formation and for daily operations. The advantages of formal intermediaries over personal capitalists were huge. First and foremost among the benefits was ...
... stock and bond exchange, an investor could be one of thousands buying $100 in stock, rather than one of a handful of relatives investing thousands of dollars in equity capital. While relatives might have a hard time extricating ...
... stock and bond exchange reveals that this potential alternative capital market served a very narrow clientele. Instead of providing an important resource for industrial finance, the data on the Mexican exchange shows that it was ...
... stock and bond exchanges arose to create complementary institutions that first helped improve the conditions under which the economy operated (liquidity) and then helped raise finance capital for the sorts of large-scale domestic ...
... stock companies became wildly popular and so numerous that the few brokers that traded the handful of railroad and utilities stocks quickly organized a formal stock and bond exchange. The São Paulo Bolsa, as it was known, became the ...
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 | |