This book features an in-depth comparative study of South American National Development Bank’s governance systems. It explores the relationship between bank governance and performance frameworks, both in terms of financial-economic indicators and development impact. It seeks to observe,...

Brazil is the world's sixth-largest economy, and for the first three-quarters of the twentieth century was one of the fastest-growing countries in the world. While the country underwent two decades of unrelenting decline from 1975 to 1994, the economy has rebounded dramatically. How did this...

Frontmatter -- Contents -- Preface -- Section One. No Banks without States, and No States without Banks -- 1. If Stable and Efficient Banks Are Such a Good Idea, Why Are They So Rare? -- 2. The Game of Bank Bargains -- 3. Tools of Conquest and Survival Why States Need Banks -- 4. Privileges with...

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...