This paper examines sovereign lending to Latin America and the Caribbean from 1820 to 1913. We examine four waves of capital flows where defaults were followed by a return to market access. In spite of extended default, countries kept promising high returns that attracted international investors...

En este artículo se analizan algunos aspectos de la deuda soberana de América latina y el Caribe durante el período 1820-1913. Se examinan las cuatro oleadas del auge crediticio y del movimiento de capitales que terminaron en episodios de defaults generalizados pero que no obstaculizaron a...

Argentina’s money and banking system was hit hard by the Great Depression. The banking sector was awash with bad assets that built up in the 1920s. Gold convertibility was suspended in December 1929, even before the crisis seriously damaged the core economies. Commonly, these events are...

The long-run economic performance of Argentina since World War One has been relatively disappointing until recently. Yet, in the interwar period, signs of future retardation andquot; recurring crises were not so obvious. It is often claimed that an unmitigated success was thequot; remarkably...

Argentina's money and banking system was hit hard by the Great Depression. The banking sector was awash with bad assets that built up in the 1920's. Gold convertibility was suspended in December 1929, even before the crisis seriously damaged the core economies. Commonly, these events are seen as...

Argentina's economic crisis has strong similarities with previous crises stretching back to the nineteenth century. A common thread runs through all these crises: the interaction of a weak, undisciplined, or corruptible banking sector, and some other group of conspirators from the public or...

Argentina's once strong money and banking system deteriorated in the 1920s and was devastated by the Great Depression. Gold convertibility was suspended in December 1929, even before the crisis seriously damaged the core economies. Commonly, these events are seen as being driven by external real...