This book studies the development of banks and stock and bond exchanges in Sao 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 Sao 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 Sao Paulo's...

A history of municipal public finance in Brazil in the last half of the nineteenth century and first part of the twentieth.