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 93
... loan register at the same time that they faced competition from new large-scale investment banks formed at mid-century ... loans, and initial public offerings of the industrial firm's stock. In addition, they provided credit to foreign ...
... loans at significantly lower costs than they would have incurred in the open market. This was not an impersonal or anonymous financial market, but it was a robust and successful one that in the long run gave New England a significant ...
... loans, developed free of any sort of government stimulus, oversight, or regulation.22 Most of these banks were ... loans, and discounted commercial paper, making their money on the spread between the low rates of interest they paid ...
... loans and discounts, but it also dedicated a portion of its assets to medium-term loans to stimulate industrial development in the province.25 In addition to the discount and credit facilities they created, these first private banks ...
... loans— slaves—caused banking establishments to “[mushroom] on all sides” to collect and distribute these funds.29 Six isolated establishments were tolerable. Mushrooming, unregulated establishments were not. The Commercial Code and ...
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 | |