Inglorious Revolution : Political Institutions, Sovereign Debt, and Financial Underdevelopment in Imperial Brazil, Hardback Book

Inglorious Revolution : Political Institutions, Sovereign Debt, and Financial Underdevelopment in Imperial Brazil Hardback

Part of the Yale Series in Economic and Financial History series

Description

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

Information

  • Format: Hardback
  • Pages: 360 pages, 33 b-w illus.
  • Publisher: Yale University Press
  • Publication Date:
  • Category: History of the Americas
  • ISBN: 9780300139273

Other Formats

£65.00

£57.49

 
Free Home Delivery

on all orders

 
Pick up orders

from local bookshops

Also by William R. Summerhill

Also in the Yale Series in Economic and Financial History series   |  View all