Formalization of Chilean banking activity in the second half of the 19th century

Cesar Ross

MPRA Paper from University Library of Munich, Germany

Abstract: This article analyzes the formalization of Chilean banking activity in the second half of the 19th century. It also considers the consequences of the legalization of banknote issuance as legal currency on the Chilean economy. The main hypothesis is that the formalization of banking activity had two main effects: on the one hand, it helped to develop the money market. On the other hand, it increased market concentration while there was no control of money issuing activity. This article is based on an archival research, contemporary magazines, newspapers and other secondary sources.

Keywords: issuing banks; means of payment; bank notes; Chile (search for similar items in EconPapers)
JEL-codes: E51 L53 N2 N86 (search for similar items in EconPapers)
Date: 2016-08-08, Revised 2016-11-16
New Economics Papers: this item is included in nep-his, nep-mac and nep-pay
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:78001

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