Banca, legitimidad estatal y nacionalismo económico: la disputa por el banco único de emisión en el Congreso Constituyente de 1916-1917

Leonardo Lomelí Vanegas and Ismael D. Valverde Ambriz
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Leonardo Lomelí Vanegas: UNAM
Ismael D. Valverde Ambriz: UNAM

El Trimestre Económico, 2025, vol. 92 (4), issue 368, 863-889

Abstract: This article analyzes the debate surrounding the creation of the sole issuing bank during the 1916-1917 Constitutional Congress as an early expression of Mexican economic nationalism. By drawing on primary sources, it examines the tensions among three economic doctrines: economic liberalism, financial pragmatism, and revolutionary economic nationalism. It argues that control over monetary issuance was conceived as an instrument of state legitimacy and economic sovereignty in the new post-revolutionary regime. Although the state monopoly was not immediately consolidated, the debate laid the groundwork for the Banco de Mexico (1925) and the interventionist state model of the 1930s.

Keywords: Sole bank of issue; monetary policy; economic nationalism; Banco de México. (search for similar items in EconPapers)
JEL-codes: B27 E52 E58 N26 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:elt:journl:v:92:y:2025:i:368:p:863-889

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DOI: 10.20430/ete.v92i368.3180

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