Titlebook: Sovereign Debt Crises and Negotiations in Brazil and Mexico, 1888-1914; Governments versus B Leonardo Weller Book 2018 The Editor(s) (if ap

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Rothschilds’ Tropical Empire: Brazil, 1822–1889nce from Portugal. In the 1850s, the government appointed the bank as its financial agent in Europe, a role that included a debt underwriting monopoly that lasted until 1908. Brazil would not have been able to borrow to the extent and at the rate it did had it not been associated with Rothschilds. B

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Rothschilds and Coffee Finance: Brazil, 1898–1914ly participated in the transfer of funds to São Paulo in 1908, when a large harvest jeopardized the scheme. The end of the coffee programme would have deteriorated Brazil’s finances in the 1900s. That did not stop Brazil from borrowing in Paris that same year from banks that charged lower commission

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From Defaults to Redemption: Mexico, 1821–1890al embargo on the country. Mexico was a failed state, subject to foreign invasions, civil wars and territorial losses. Matters changed under Porfirio Díaz (1876–1880, 1884–1911), who built an autocratic and centralised regime that delivered political stability and economic growth. The government con

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The Bankers’ Beloved Dictatorship: Mexico, 1890–1910 pushed the government to default on its newly issued sovereign debt. The government counted with the support of Bleichroeder, its most important underwriter, which granted a rescue loan during the crisis. Fiscal accounts became sound after silver prices stabilised at low levels in the mid-1890s. Th

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The Loans of the Revolution: Mexico, 1911–1914 to borrow abroad to fight the insurgents. The debt went on default, and the state collapsed in the following year. This chapter shows that inside information and conflict of interest explain why Paribas, the main underwriter, launched a loan in 1913. The bank’s managers had access to first-hand inf

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Conclusion contrasting combinations. Mexico borrowed cheaply during the Porfiriato because it negotiated loans with many banks. The Brazilian officials handed a monopoly to Rothschilds and arranged rescue loans in times of crises, which the Mexicans failed to do during the Revolution. Choices and outcomes dif

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