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
... trade.11 A vigorous and entrepreneurial planter class, first identified in Dean and seconded by virtually every subsequent work, took the lead in the regional economy and nurtured these new economic sectors. These planters invested ...
... trading cities. In these locations they hammered out rough credit mechanisms that worked around the problems of multiple currencies and the settlement of imbalanced accounts. By the fifteenth century, interregional trade was becoming ...
... trade and exchange on the international front.20 Merchant credit was different from notarial or Church credit because it was primarily directed toward long-distance trade rather than the commercial or consumer uses that are associated ...
... trade that was their livelihood circulating. But the credit we find in colonial Latin America went beyond convenient accommodation. Merchants provided credit to the nonmerchant business world as well. The scarcity of money in colonial ...
... trade.27 Marriage and business ties between Spanish and Mexican, Portuguese and Brazilian allowed credit to find its way into a variety of economic endeavors. In the case of Bahia, for example, merchant credit, petitioned and lent ...
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 | |