Native Capital: Financial Institutions and Economic Development in São Paulo, Brazil, 1850-1920
This 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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agricultural Araraquara balance sheets Banco Comercial Banco da Lavoura Banco de Credito Banco de Sao Banco do Brasil Banco do Comercio Banco Uniao bank's banking sector Brazil brokers business formation capital market Chapter coffee coffee production commercial banks contos Correio Paulistano Credito Real Decree deposits directors discounts diversified dividends domestic banks earning assets economic development Encilhamento entrepreneurs Estado de Sao Estrada de Ferro exchange expansion export financial institutions firms foreign banks formed funds government bonds growth important industrial intermediaries investors issue Ituana joint-stock companies Leis e Decretos lending liquidity loans merchant million mil-reis Mogiana mortgage bank mortgage loans nineteenth century non-bank operations paid-in Paulista percent period Piracicaba planters pounds sterling profits railroads Relatorios returns Rio de Janeiro Sao Paulo banks Sao Paulo Bolsa Sao Paulo economy shareholders shares short-term credit slave sources stock and bond Table textile trade Triner Uniao de Sao universal banks urban