Brazil as a debtor, 1824–19311

Marcelo Abreu

Economic History Review, 2006, vol. 59, issue 4, 765-787

Abstract: Internal rates of return of Brazilian loans floated between 1824 and 1931 fell below those of British and US government consols and bonds only for some of the loans floated after the beginning of the twentieth century. Higher volatility of yearly rates of return was rewarded by higher returns for all Brazilian Federal loans. Their spreads over consols in 1824–1943 are compared to those of Argentina and Chile and of Brazilian state and municipal loans for 1888–1930. In spite of some deterioration over time, Brazilian loans had a better performance than suggested by the literature, especially in the 1920s.

Date: 2006
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://doi.org/10.1111/j.1468-0289.2006.00359.x

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:ehsrev:v:59:y:2006:i:4:p:765-787

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0013-0117

Access Statistics for this article

Economic History Review is currently edited by Stephen Broadberry

More articles in Economic History Review from Economic History Society Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().