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. |
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... urban commercial and industrial companies that transformed São Paulo. Capital markets are institutions or arrangements that bring together buyers and sellers seeking a similar product, money. Like any other type of marketplace, capital ...
... urban and industrial ventures. Significantly, the Bolsa financed primarily medium-to-large companies, indicating that it directly aided in business formation that was beyond the reach of traditional kin group or community finance ...
... urban businesses of all stripes were forming almost daily, banks had to be creative and flexible. The expanding and shifting economic environment meant that banks needed new mechanisms to evaluate client transactions. Banks responded by ...
... urban centers located along the coast. Some production for internal consumption existed to support the urban centers, primarily agricultural in nature, but the internal economy of Brazil was largely undeveloped. Furthermore, much of the ...
... urban bills, buy and ship back the tools and supplies required by the planter, and sometimes advanced the planter money. This pattern was disrupted in the nineteenth century by the end of the slave trade and the concurrent swift growth ...
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 | |