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Banking in the Portuguese Colonial Empire (1864-1975)

Author

Listed:
  • Ana Bela Nunes
  • Carlos Bastien
  • Nuno Valério
  • Rita Martins de Sousa
  • Sandra Domingos Costa

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.

Suggested Citation

  • Ana Bela Nunes & Carlos Bastien & Nuno Valério & Rita Martins de Sousa & Sandra Domingos Costa, 2010. "Banking in the Portuguese Colonial Empire (1864-1975)," Working Papers GHES - Office of Economic and Social History 2010/41, ISEG - Lisbon School of Economics and Management, GHES - Social and Economic History Research Unit, Universidade de Lisboa.
    • Handle: RePEc:ise:gheswp:wp412010
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    File URL: https://ghes.rc.iseg.ulisboa.pt/wp/wp412010.pdf
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    Cited by:

    1. Leonor Freire Costa & Jaime Reis, 2016. "The chronic food deficit of early modern Portugal: curse or myth?," Working Papers GHES - Office of Economic and Social History 2016/58, ISEG - Lisbon School of Economics and Management, GHES - Social and Economic History Research Unit, Universidade de Lisboa.
    2. Ana Bela Nunes, 2015. "The Portuguese economy in the 1980s: structural change and short-term upheavals," Working Papers GHES - Office of Economic and Social History 2015/55, ISEG - Lisbon School of Economics and Management, GHES - Social and Economic History Research Unit, Universidade de Lisboa.
    3. Amélia Branco & Francisco M. Parejo, 2010. "The Creation of a Competitive Advantage in the Portuguese Cork Industry: The Contribution of an Industrial District," Working Papers GHES - Office of Economic and Social History 2010/43, ISEG - Lisbon School of Economics and Management, GHES - Social and Economic History Research Unit, Universidade de Lisboa.

    More about this item

    Keywords

    Clonial banks JEL classification : N23; N25; N27;
    All these keywords.

    JEL classification:

    • N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913

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