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Propuesta metodológica para el cálculo del riesgo sistémico financiero en estudios de Historia Económica: Aplicación para el caso de la banca libre en Antioquia, 1888
[A methodology for assessing financial systemic risk in economic history studies: An Application for free banking in Antioquia, 1888]

Author

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  • Mejía Cubillos, Javier

Abstract

This paper proposes a methodology to calculate the systemic risk in historical research, understanding that the characteristics of non modern financial systems and the availability of information do not enable the use of recent techniques of measuring financial risk. I propose a method of simple application and scarce information requirements, using the degree of leverage as an approximation of the individual risk, and the network theory to determine the allocation of individual risks throughout the system. The methodology is especially useful for studying the banking systems in early corporatizing periods. After been exposed the methodology, which takes as its central axis the shareholders, and the property as base linkages between institutions, it is mentioned its strengths and weaknesses; being, finally, tested in an application for the free banking experience in Antioquia.

Suggested Citation

  • Mejía Cubillos, Javier, 2012. "Propuesta metodológica para el cálculo del riesgo sistémico financiero en estudios de Historia Económica: Aplicación para el caso de la banca libre en Antioquia, 1888 [A methodology for assessing f," MPRA Paper 35460, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:35460
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    10. Angela Milena Rojas, 2008. "Deuda pública interna, patrón metálico y guerras civiles: interconexiones institucionales, la Colombia del siglo XIX," Revista Lecturas de Economía, Universidad de Antioquia, CIE, April.
    11. Adolfo Meisel R., 1996. "Autonomia De La Banca Central E Inflacion La Experiencia Colombiana, 1923-1995," Borradores de Economia 2035, Banco de la Republica.
    12. Sylvester Eijffinger, 2011. "Defining and Measuring Systemic Risk," Chapters, in: Sylvester Eijffinger & Donato Masciandaro (ed.), Handbook of Central Banking, Financial Regulation and Supervision, chapter 11, Edward Elgar Publishing.
    13. Luz Stella Flórez Ríos, 2008. "Evolución de la Teoría Financiera en el Siglo XX," Revista Ecos de Economía, Universidad EAFIT, September.
    14. Miguel Urrutia, 2007. "Precios y Salarios Urbanos en el Siglo XIX," Documentos CEDE 4381, Universidad de los Andes, Facultad de Economía, CEDE.
    15. Adrian, Tobias & Shin, Hyun Song, 2010. "Liquidity and leverage," Journal of Financial Intermediation, Elsevier, vol. 19(3), pages 418-437, July.
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    RePEc Biblio mentions

    As found on the RePEc Biblio, the curated bibliography for Economics:
    1. > Economic History > Regional Economic History > Latin American Economic History > Economic History of Colombia > Colombian Regional History

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    Cited by:

    1. Mejía Cubillos, Javier, 2011. "¿Puede ser considerado el auge antioqueño de la segunda mitad del siglo XIX un modelo de desarrollo económico local? [Can be considered the Antioquian economic takeoff during the second half of the," MPRA Paper 35627, University Library of Munich, Germany.
    2. Javier Mejía, 2015. "Crecimiento económico de largo plazo en Antioquia, Colombia. Estimación del PIB, 1800-1913," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, June.
    3. Mejía-Cubillos, Javier, 2013. "Vínculos interregionales en la economía colombiana del siglo XIX: Empresariado del Caribe en el interior del país [Interregional links in Colombian economy during the 19th century: Caribbean entrep," MPRA Paper 48626, University Library of Munich, Germany.
    4. Edna Carolina Sastoque Ramírez, 2018. "El papel de los banqueros en la construcción de estado y soberanía monetaria en Colombia (1880-1931)," Books, Universidad Externado de Colombia, Facultad de Economía, number 78.

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    More about this item

    Keywords

    systemic risk; social network analysis; financial history; free banking; 19th Century; Antioquia;
    All these keywords.

    JEL classification:

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

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