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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Page 7
... intermediaries are more efficient and more effective than per- sonal intermediaries at promoting economic development , though personal and impersonal intermediaries can and do coexist . The transition from one type of intermediary to ...
... intermediaries are more efficient and more effective than per- sonal intermediaries at promoting economic development , though personal and impersonal intermediaries can and do coexist . The transition from one type of intermediary to ...
Page 11
... intermediaries over personal capitalists were huge . First and foremost among the benefits was the fact that they created a market much larger than the kin group , neighborhood , or village that had been the effective pool of savings ...
... intermediaries over personal capitalists were huge . First and foremost among the benefits was the fact that they created a market much larger than the kin group , neighborhood , or village that had been the effective pool of savings ...
Page 59
... intermediaries helped broaden the market for stocks and bonds . The reputation of intermediaries like J. P. Morgan helped raise capital for business ventures in the United States in the early twentieth century , in part by purchasing ...
... intermediaries helped broaden the market for stocks and bonds . The reputation of intermediaries like J. P. Morgan helped raise capital for business ventures in the United States in the early twentieth century , in part by purchasing ...
Contents
Native Capital under the Empire | 24 |
1 | 47 |
Brokers and Business Finance under the Empire | 56 |
Copyright | |
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Common terms and phrases
agricultural Antônio Araraquara balance sheets Banco Comercial Banco da Lavoura Banco de Crédito Banco de Santos Banco do Brasil Banco do Comércio Banco Mercantil Banco União bank's banking sector Brazil brokers business formation capital market Chapter coffee coffee production Comércio e Indústria commercial banks contos Correio Paulistano Crédito Real Decree deposits Diário Popular directors discounts dividends domestic banks economic development Encilhamento entrepreneurs Estado Estrada de Ferro exchange expansion export financial institutions firms foreign banks formed funds government bonds growth important intermediaries investors issue Ituana joint-stock companies Leis e Decretos lending liquidity loans Mercantil de Santos merchant million mil-réis Mogiana mortgage bank nineteenth century nomic operations Paulista Paulo banks Paulo Bolsa Paulo economy percent period Piracicaba planters portfolio profits province railroads Relatórios Ribeirão Preto Rio de Janeiro Saes São Carlos shareholders shares short-term credit slave sources stock and bond Table textile trade Triner universal banks urban