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The Economic and Social History of Brazil since 1889
This is the first complete economic and social history of Brazil in the modern period in any language. It provides a detailed analysis of the evolution of the Brazilian society and economy from the end of the empire in 1889 to the present day. The authors elucidate the basic trends that have defined modern Brazilian society and economy. In this period Brazil moved from being a mostly rural traditional agriculture society with only light industry and low levels of human capital to a modern literate and industrial nation. It has also transformed itself into one of the world's most important agricultural exporters. How and why this occurred is explained in this important survey.
Inglorious Revolution
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
Annual Commencement
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