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
... Brazilian development.57 None of the central theses on coffee and industrialization gave close scrutiny to financial intermediation beyond assuming that it played some supposed yet ill-defined role. Warren Dean suggested that new banks ...
... Brazilian capitalists from the wealthier region of Rio de Janeiro, overshadowed Paulista financiers. Although São ... Brazil's independence from.
... Brazilian soil meant that the economy required national institutions to govern its material life. The history of financial intermediaries in Brazil, then, mirrors the history of the new nation. This chapter examines the history of one ...
... 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 laborers or sharecroppers.2 No property or income tax existed in Brazil that ...
... Brazilian government to face up to the demand for banks. The effect did not follow immediately on the heels of the cause, but the impetus, in hindsight, was profound. Pressured by the British to outlaw the importation of slaves, Brazil ...
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 | |