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 and international coffee production by the turn of the twentieth century. As late as 1880, however, this region showed no signs that it would become the economic center of the country. São Paulo had been a virtual backwater in ...
... Brazil's economic history is how São Paulo came to industrialize so quickly and dominate so thoroughly the Brazilian economy. After all, coffee was not Brazil's first important export crop nor its last. Sugar before and rubber after ...
... Brazilian historiography on economic development because Brazil's leading economic historians had asserted that export agriculture and industry were separate beasts, incompatible and in constant struggle with one another. The accepted ...
... as they made the interest payments on time, about 5 percent of the value of the loan.22 Brazilian religious orders lent money in much the same way, earning significant portions of their 23 income from the extension of credit. So wealthy ...
... Brazilian-born sons of Portuguese merchants in colonial Bahia generally became landowners, professionals, or priests, for example, while their daughters married newly arriving merchants. In fact, immigrant merchants married Brazilian ...
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 | |