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Free banking and bank entry in Latin America

Author

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  • Luis Felipe Zegarra

    (CENTRUM Católica, The Business School of Pontificia Universidad Católica del Perú, Peru)

Abstract

This article analyzes the impact of free-banking on the banking sector in Latin America in the 19th and early 20th centuries. I use data for seven countries to compare the entry of banks and the growth of bank output prior and after the enactment of free-banking laws to determine whether free-banking (by establishing general requirements for granting note-issuance rights) lowered barriers to entry. The results show that in most Latin American countries the adoption of free-banking laws did not cause in the short run an increase in bank entry and in bank output growth. KEY Classification-JEL: O54. N26. N20. G21

Suggested Citation

  • Luis Felipe Zegarra, 2013. "Free banking and bank entry in Latin America," Investigaciones de Historia Económica - Economic History Research (IHE-EHR), Journal of the Spanish Economic History Association, Asociación Española de Historia Económica, vol. 9(03), pages 131-142.
    • Handle: RePEc:ahe:invest:v:09:y:2013:i:03:p:131-142
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    More about this item

    Keywords

    Latin America. Banking sector. Bank laws. Bank entry;

    JEL classification:

    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean
    • N26 - Economic History - - Financial Markets and Institutions - - - Latin America; Caribbean
    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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