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 71
... expansion and diversification into equity and debt issues for a broad range of new urban and industrial ventures. Significantly, the Bolsa financed primarily medium-to-large companies, indicating that it directly aided in business ...
... expansion in size and in geography as a result of the 1890 reforms. Because banks were joint-stock companies, they benefited from the elimination of shareholder liability and attracted investors in droves. Chapter 6 looks at the expansion ...
... expansion overwhelmed the personal relationships on which finance depended. This meant that financial institutions had to become increasingly modern and sophisticated to serve the changing economy. Private initiative and government ...
... expansion of coffee planting in the late 1860s and early 1870s, from just 80,000 in 1864 to 175,000 in 1874, but could only help to stem the decline thereafter.12 In spite of substantial north-south migration during the nineteenth ...
... expansion away from the port cities just when such expansion was made lucrative by growing demand. In short, the physical infrastructure of foreign trade proved to be a real bottleneck to the expansion of coffee production. The solution ...
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 | |