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Entrepreneurship as Diplomacy: Nelson Rockefeller and the Development of the Brazilian Capital Market

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  • Cobbs, Elizabeth A.

Abstract

This article analyzes the creation of the Fundo Crescinco, a mutual fund that Nelson Rockefeller started in Brazil in the 1950s as part of a larger effort to continue, using private means, the Good Neighbor policy of Franklin D. Roosevelt. Fundo Crescinco reflected both the liberal assumptions of many academicians of that era about the importance of the middle class to economic development and the concerns of business people about placating Latin American nationalism. The fund's history provides insight into the complex and often contradictory nature of U.S.-Latin American relations following the Second World War, and it demonstrates the limits of entrepreneurship as an extension of diplomacy.

Suggested Citation

  • Cobbs, Elizabeth A., 1989. "Entrepreneurship as Diplomacy: Nelson Rockefeller and the Development of the Brazilian Capital Market," Business History Review, Cambridge University Press, vol. 63(1), pages 88-121, April.
    • Handle: RePEc:cup:buhirw:v:63:y:1989:i:01:p:88-121_04
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    Cited by:

    1. Shyh-fang Ueng, 2005. "A theory of efficient coexistence," International Economic Journal, Taylor & Francis Journals, vol. 19(3), pages 397-416.

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