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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... banks formed at mid-century.35 The great banks that formed after 1850, including the Crédit Foncier, a mortgage bank ... universal bank, which engaged in both short-term credit and long-term investment banking and which had its heyday ...
... banks failed, although not without first destroying the banking business of the Parisian notaries.41 Britain's ... Universal banks combine short-term and long-term lending and sometimes act as brokerages and business managers. The number ...
... banks are part of a network. The reliance on local sources to cover local uses in unit banking reduces a bank's ... universal banks.45 The geographical diversity of a network can serve to diversify a bank's risk because it reduces an ...
... banks into the long-term lending business. With an eye toward creating the universal banks that had been so important to German industrial development, the Republican government offered a package of incentives and concessions to banks ...
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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 | |