Native Capital: Financial Institutions and Economic Development in São Paulo, Brazil, 1850-1920

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Stanford University Press, Sep 30, 2005 - Social Science - 286 pages
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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Contents

Capital Markets and Economic Development
1
Native Capital under the Empire
24
Brokers and Business Finance under the Empire
56
The Republican Revolution and the Rise of the Bolsa
84
The Republican Revolution and the Failure of Universal Banking
114
Commercial Banking and the Business of Development
153
Conclusions
187
Profits
195
Notes
211
Bibliography
263
Index
279
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About the author (2005)

Anne Hanley is Assistant Professor of History at Northern Illinois University.

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