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 41
... merchant contacts. Formal institutions could attract capital from a much larger geographic region, even internationally, meaning that they could gather together the insignificant savings of a greater pool of individuals and therefore ...
... merchants and to German exporters to make sure that the goods produced by their industrial affiliates could get to market. They were huge, activist banks that often literally served as a financial arm to industry. Because these mega ...
... merchants or coffee and sugar factors, or by 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 ...
... merchant middlemen and import /export houses. In short, Brazil as late as 1850 was a primarily rural and relatively illiquid economy. In this environment, most financial relationships were personal or “informal.” That is, they rested in ...
... merchants, planters, and exporters had for centuries developed the personal financial relationships, based on long experience and established reputation, that greased the wheels of their transactions. The faster pace of the economy ...
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 | |