Industrial Concentration and the Capital Markets: A Comparative Study of Brazil, Mexico, and the United States, 1830–1930
比较巴西、墨西哥和美国在工业化早期阶段资本市场发展与产业结构的关系，发现产权界定不清和政府监管政策限制了拉丁美洲信用中介的形成，导致其棉纺织业集中度高于美国。
This article examines the relationship between capital market development and industrial structure during the early stages of industrialization, contrasting the experiences of Brazil, Mexico, and the United States. It argues that constraints placed on the formation of credit intermediaries in Latin America by poorly defined property rights and government regulatory policies produced greater concentration in the Mexican and Brazilian cotton textile industries than that which developed in the United States.