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
... term loan since trees did not bear fruit for four to six years, and they ... credit system which had long served export agriculture, then, was strained ... short, the physical infrastructure of foreign trade proved to be a real bottleneck ...
... shortterm, commerce-based transactions. Their funds came from investors and depositors, and their business was to discount commercial paper and extend lines of credit ... short-term (twelve months or less) secured loans. Two of.
... short-term (twelve months or less) secured loans. Two of these banks, the Banco da Bahia and Banco do Pará, engaged ... credit facilities they created, these first private banks acted as banks of issue. Each printed notes known as vales, or ...
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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 | |