Banking in the Portuguese Colonial Empire (1864-1975)

Ana Bela Nunes, Carlos Bastien, Nuno Valério, Rita Sousa () and Sandra Domingos Costa

No 2010/41, Working Papers GHES - Office of Economic and Social History from ISEG - Lisbon School of Economics and Management, GHES - Social and Economic History Research Unit, Universidade de Lisboa

Abstract: This paper provides a general view of the evolution of banking in the Portuguese Colonial Empire between the founding of the first Portuguese colonial bank in 1864 and the independence of most Portuguese colonies in 1975. The text summarizes the legal background, presents the banks existing during that period, examines their businesses and discusses their contribution to the economic evolution of the territories under consideration. As the paper’s main conclusions, it may be said that: (i) Portuguese colonial banking followed the continental model of government initiative and tight control, not the British model of private initiative without much government control; (ii) the development of Portuguese colonial banking was always mainly a matter of profiting from the opportunities afforded by economic evolution rather than a matter of autonomously fostering the economic development of the territories.

Keywords: Clonial banks JEL classification : N23; N25; N27 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (3)

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Journal Article: Banking in the Portuguese Colonial Empire (1864-1975) (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:ise:gheswp:wp412010

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