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 85
... lend it out at longer terms than personal financial intermediaries. Surveys of early modern capital markets confirm that the most widely available form of credit was commercial credit, lent at the short term.31 While this was an ...
... lend funds were generally in a position of strength vis-à-vis their debtors, as they had surplus funds as a result ... lenders and borrowers did not need to know one another, for example, their own personal connections to both parties ...
... lending for commercial banking, leaving France with no institutional source of long term credit after 1880. The absence of alternatives for largescale capital mobilization meant that France's industrial sector would be characterized by ...
... lend almost exclusively at the short term, twelve months or less, while mortgage banks typically lend at the very long term, from five to fifty years. Universal banks combine short-term and long-term lending and sometimes act as ...
... lending short-term capital to wellknown citizens. With the explosion of the coffee economy after 1880, however, bankers' practices became strained by liquidity and credit demands and the sector quickly adapted in order to take advantage ...
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 | |