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
... diversify their investments to attain a better return, “thus transforming coffee capital into industrial capital.”58 These notable works gave scarce attention to the mechanisms that allowed this transformation to take place. In fact ...
... diversification into equity and debt issues for a broad range of new urban and industrial ventures. Significantly, the Bolsa financed primarily medium-to-large companies, indicating that it directly aided in business formation that was ...
... intermediaries from small, conservative, personal institutions into larger, more flexible, and formal institutions provided São Paulo with the liquidity and capital it needed to diversify its economy. Initially operating via highly.
... diversify its economy. Initially operating via highly personalistic relationships typical of premodern and early modern Europe, financial intermediaries took on an institutional form around the middle of the nineteenth century. These ...
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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 | |