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 79
... paid - in , the stock dividends effectively increased the paid - in value of the stock to the shareholders without requiring ad- ditional payments by the investors . The Paulista , for example , which in- augurated its first line in ...
... paid - in , the stock dividends effectively increased the paid - in value of the stock to the shareholders without requiring ad- ditional payments by the investors . The Paulista , for example , which in- augurated its first line in ...
Page 202
... paid an annual return to shareholders of between 7 percent and 16 percent , while regional banks paid from 9 percent to 19 percent returns on their stock . The mortgage banks also paid out high returns , though each for different ...
... paid an annual return to shareholders of between 7 percent and 16 percent , while regional banks paid from 9 percent to 19 percent returns on their stock . The mortgage banks also paid out high returns , though each for different ...
Page 203
... paid their highest premiums ever , from two to four times returns on general government bonds and four to seven times returns on 1868 bonds , in the period from 1895 to 1897. The sole industrial in- vestment bank , the Banco União de ...
... paid their highest premiums ever , from two to four times returns on general government bonds and four to seven times returns on 1868 bonds , in the period from 1895 to 1897. The sole industrial in- vestment bank , the Banco União de ...
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