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Industrial Concentration and the Capital Markets: A Comparative Study of Brazil, Mexico, and the United States, 1830–1930

Published online by Cambridge University Press:  03 March 2009

Stephen H. Haber
Stephen H. Haber
Affiliation:
Associate Professor of History, Stanford University, Stanford, CA 94305-2024.
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Abstract

This article examines the relationship between capital market development and industrial structure during the early stages of industrialization, contrasting the experiences of Brazil, Mexico, and the United States. It argues that constraints placed on the formation of credit intermediaries in Latin America by poorly defined property rights and government regulatory policies produced greater concentration in the Mexican and Brazilian cotton textile industries than that which developed in the United States.

Type
Articles
Information
The Journal of Economic History , Volume 51 , Issue 3 , September 1991 , pp. 559 - 580
Copyright
Copyright © The Economic History Association 1991

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