Native Capital
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Anne G. Hanley
About this book
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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Frontmatter
i -
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Contents
vii -
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Tables and figures
ix -
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Notes on conventions
xiii -
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Acknowledgments
xv -
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Chapter 1. Capital Markets and Economic Development
1 -
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Chapter 2. Native Capital under the Empire
24 -
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Chapter 3. Brokers and Business Finance under the Empire
56 -
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Chapter 4. The Republican Revolution and the Rise of the Bolsa
84 -
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Chapter 5. The Republican Revolution and the Failure of Universal Banking
114 -
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Chapter 6. Commercial Banking and the Business of Development
153 -
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Chapter 7. Conclusions
187 -
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Appendix. Profits
195 -
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Notes
211 -
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Bibliography
263 -
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Index
279