Portuguese Public Debt and Financial Business Before WWI

Research output: Contribution to journalArticlepeer-review


Government, public finance, and public debt framed the historical background for exceptional financial business opportunities for Henry Burnay as a private banker and a network with Baring Brothers, Comptoir National d'Escompte, Banque de Paris et des Pays Bas, Neuflize et Cie., Crédit Lyonnais, Société Générale, Deutsche Bank, Bank fur Handel& Industrie, Dresdner Bank, M. Jacob H. S. Stern and the Deutsche Effecten & Wechsel Bank from Frankfurt. Nineteenth-century financial markets and public debt emerge as the main players in the game.Credibility and honesty are important values for earning confidence and trust in international financial business, while bilateral-monopoly market situations required a lot of bargaining for joint profit maximization.
Original languageEnglish
Pages (from-to)10-27
JournalBusiness and Economic Horizons
Issue number3
Publication statusPublished - 1 Jan 2010


  • Financial business
  • nineteenth-century financial markets
  • public debt
  • bilateral monopoly
  • government
  • tobacco and matches
  • bargaining
  • Portugal


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