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 6-10 of 77
... agricultural to the modern sector to occur. In this book, I argue that the financial institutions so neglected in the Brazilian literature were precisely what made São Paulo's development so successful. In spite of a slow and ...
... agricultural economy that had little use for money. Land was acquired through grants, inheritance, or squatting. Productive inputs in the agricultural sector were paid for out of export receipts. Wages were hardly a pressing concern, as ...
... agriculture, then, was strained by the expanding export trade. In addition to new capital requirements to expand production, the expansion of the coffee trade also generated new capital requirements to improve the physical ...
... agricultural exports, the Brazilian government didn't give much thought to promoting or developing domestic business.21 There didn't appear to be any such need. The import /export houses had long experience in Brazil, and its largest ...
... agricultural development as its objective. To this end, it paid higher rates to depositors in order to attract capital, and lent money at the medium and long term. The Banco do Pará, like the others, focused on loans and discounts, but ...
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 | |