The Economic Consequences of Financial Regimes: A New Look at the Banking Policies of Mexico and Brazil, 1890-1910
Fiche du document
1 avril 2015
- handle: 10670/1.dmgn3v
info:eu-repo/semantics/openAccess
Mots-clés
financial regulation financial crises encilhamento financial liberalization financial repressionCiter ce document
James Gerber et al., « The Economic Consequences of Financial Regimes: A New Look at the Banking Policies of Mexico and Brazil, 1890-1910 », América Latina en la historia económica, ID : 10670/1.dmgn3v
Métriques
Partage / Export
Résumé
This paper compares the consequences of different financial policies adopted in Mexico and Brazil in the decades before World War I. In the 1890s, the national governments of Mexico and Brazil pursued strikingly different policies toward banking regulation. In Brazil, after the fall of the monarchy, authorities briefly experimented with financial liberalization. In Mexico, in the same era, public officials created a banking system with more constraints and regulations. We compare the costs and benefits to the financial systems and the macroeconomic effects of these different banking regimes, thereby revisiting two classic concerns of financial historians, the costs of financial fragility versus the benefits of financial liberalization. We look at the outcomes for financial sectors and consider the differences in broad measures of overall economic performance under stress.