A01=William R. Summerhill
Author_William R. Summerhill
Category=KCZ
Category=NHK
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eq_business-finance-law
eq_history
eq_isMigrated=1
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eq_non-fiction
Product details
- ISBN 9780300139273
- Weight: 644g
- Dimensions: 156 x 235mm
- Publication Date: 26 Nov 2015
- Publisher: Yale University Press
- Publication City/Country: US
- Product Form: Hardback
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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
“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
William R. Summerhill isa professor of history at UCLA. His research focuses on the determinants of long-run political and economic change in Latin America, with particular emphasis on Brazil.
