Inglorious Revolution : Political Institutions, Sovereign Debt, and Financial Underdevelopment in Imperial Brazil / William R. Summerhill.
- Other records:
- New Haven, CT : Yale University Press, 
- Yale series in economic and financial history.
Yale Series in Economic and Financial History
1 online resource (357 p.)
- Debts, Public -- Brazil -- History -- 19th century.
Brazil -- Economic conditions -- 19th century.
Brazil -- Economic policy -- 19th century.
Brazil -- History -- Empire, 1822-1889.
- Electronic books.
- Nineteenth-century Brazil's constitutional monarchy credibly committed to repay sovereign debt, borrowing repeatedly in international and domestic capital markets without default. Yet it failed to lay the institutional foundations that private financial markets needed to thrive. This study shows why sovereign creditworthiness did not necessarily translate into financial development. "Using a vast array of archival evidence, Summerhill convincingly shows that political commitment to a secure public debt was neither necessary nor sufficient to insure financial development in nineteenth-century Brazil. A must-read for economic and financial historians and for anyone interested in the politics of financial development." -Jean-Laurent Rosenthal, California Institute of Technology
Note on orthography and currency
Chapter One: Introduction
Chapter Two: Sovereign Borrowing and Imperial Debt Policy
Chapter Three: Tropical Credibility on Lombard Street
Chapter Four: Borrowing on Rua Direita
Chapter Five: Turning Points
Chapter Six: Controlling Capital
Chapter Seven: Concentration and Cronyism
Chapter Eight: Fall from Grace
Appendix I: Theory
Appendix II: Data
Appendix III: Primary Market Borrowing Costs
- Description based upon print version of record.
Includes bibliographical references and index.
Description based on online resource; title from PDF title page (publisher's Web site, viewed 24. Apr 2020)
- Publisher Number:
- 10.12987/9780300218619 doi
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