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Portuguese public debt and financial business before WWI

Author

Listed:
  • Maria Eugenia Mata

    (Associate Professor, Universidade Nova de Lisboa, Faculdade de Economia.)

Abstract

Government, public finance, and public debt framed the historical background for exceptional financial business opportunities for Henry Burnay as a private banker and a network with Baring Brothers, Comptoir National d'Escompte, Banque de Paris et des Pays Bas, Neuflize et Cie., Credit Lyonnais, Societe Generale, Deutsche Bank, Bank fur Handel& Industrie, Dresdner Bank, M. Jacob H. S. Stern and the Deutsche Effecten & Wechsel Bank from Frankfurt. Nineteenth-century financial markets and public debt emerge as the main players in the game. Credibility and honesty are important values for earning confidence and trust in international financial business, while bilateral-monopoly market situations required a lot of bargaining for joint profit maximization.

Suggested Citation

  • Maria Eugenia Mata, 2010. "Portuguese public debt and financial business before WWI," Business and Economic Horizons (BEH), Prague Development Center, vol. 3(3), pages 10-27, October.
  • Handle: RePEc:pdc:jrnbeh:v:3:y:2010:i:3:p:10-27
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    More about this item

    Keywords

    Financial business; nineteenth-century financial markets; public debt; bilateral monopoly; Government; tobacco and matches; bargaining; Portugal.;
    All these keywords.

    JEL classification:

    • M16 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - International Business Administration
    • N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913
    • N43 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: Pre-1913
    • N83 - Economic History - - Micro-Business History - - - Europe: Pre-1913

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