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Medición del riesgo sistémico financiero en estudios de historia económica : propuesta metodológica y aplicación para la banca libre en Antioquia, 1888

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  • Mejía Cubillos, Javier

Abstract

Resumen: Este trabajo propone una metodología para calcular el riesgo sistémico en estudios histórico-económicos, esto debido a que las características de los sistemas financieros no contemporáneos y la disponibilidad de información impiden para ellos el empleo de las técnicas existentes de medición de la estabilidad sistémica. El método propuesto, de simple empleo y escasos requerimientos de información, al utilizar el grado de apalancamiento como referente del riesgo individual y la teoría de redes para determinar la propagación de esos riesgos individuales en todo el sistema, resulta especialmente útil para estudios de la banca en periodos de incipiente corporativización. Luego de exponer la metodología, que toma como eje central a los accionistas y fundamenta los vínculos entre instituciones a partir de la propiedad, se presentan sus virtudes y deficiencias. Finalmente, el método es ejemplificado en la experiencia de banca libre en Antioquia para 1888. / Abstract : This paper proposes a methodology to calculate systemic risk in historical research, understanding that the characteristics of non-modern financial systems and the availability of information hinder the use of recent techniques for measuring financial risk. I propose a method of simple application and scarce information requirements that uses the degree of leverage as an approximation to individual risk, and network theory to determine the propagation of these risks throughout the system. This methodology is especially useful to study banking systems in early corporatization periods. After presenting the methodology, which is mainly focused on the shareholders and link institutions through property, its strengths and weaknesses are described. Finally, the method is tested by means of an application to the free banking experience in Antioquia in 1888.

Suggested Citation

  • Mejía Cubillos, Javier, 2012. "Medición del riesgo sistémico financiero en estudios de historia económica : propuesta metodológica y aplicación para la banca libre en Antioquia, 1888," Borradores Departamento de Economía 17481, Universidad de Antioquia, CIE.
    • Handle: RePEc:col:000196:017481
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    References listed on IDEAS

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    More about this item

    Keywords

    riesgo sistémico; teoría de redes; banca libre; historia bancaria; Antioquia; siglo XIX;
    All these keywords.

    JEL classification:

    • N01 - Economic History - - General - - - Development of the Discipline: Historiographical; Sources and Methods
    • N26 - Economic History - - Financial Markets and Institutions - - - Latin America; Caribbean
    • N86 - Economic History - - Micro-Business History - - - Latin America; Caribbean
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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