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 51
... export.28 This three-way transaction was possible thanks to the private credit market. The textile obrajes that benefited from it produced enough cotton goods to rival the volume of European textiles imports in the nineteenth century.29 ...
... export houses.59 By the 1890s, São Paulo was home to a large banking sector and a formal stock and bond exchange. Relationships between bank and non-bank companies included personal ties, but these disappeared by the turn of the ...
... export receipts. Wages were hardly a pressing concern, as fully half of the Brazilian population at the time of independence were slaves, non-wage-earning by definition, and much of the other half worked in the countryside as tenant ...
... export crop at independence in 1822 to its principal export product by 1835.6 In that year, the illegal slave trade brought 745 new slaves to Brazil. By 1837, the number of slaves entering Brazil had climbed to more than 40,000. It was ...
... export trade, became less willing to accommodate planters for the long periods they had customarily agreed to.19 The informal credit system which had long served export agriculture, then, was strained by the expanding export trade. In ...
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 | |