Colombia and the Coffee Export Upsurge During the 1920's Decade: Ii. 'New Financial Institutions'

Abstract

The political class at the turn of the century opposed to the creation of a Central Bank, responding to the argument that government credit control should not surpass what they considered a rational action. Onwards and not exempted of bloodshed the parties' political proposal included the adopted notion that the State should exercise monetary and credit control. The study shows some obstacles and experiences lived before credit confidence was restored after the Thousand Days War ended and after the National Bank was closed and Banco Central created. Also how The Central Bank was conceived according the gold standard rules following Walter Kemmer recommendations for central banking and controlling institutions management. Some histories are told on private bank creation before Great Crash.

Note: Downloadable document is in Spanish.

JEL Classification: F4, O0, O1, O5, N2