IDEAS home Printed from https://ideas.repec.org/p/ucb/calbcd/c97-084.html
   My bibliography  Save this paper

The Baring Crisis in a Mexican Mirror

Author

Listed:
  • Barry Eichengreen.

Abstract

Conventional wisdom has it that the Mexican crisis of 1994-95 was "the first financial crisis of the 21st century." In this paper I argue that it may be better understood as the last financial crisis of the 19th. The crisis in Mexico exhibits striking similarities to the Baring Crisis of 1890, an event that did much to shape modern opinion about the causes and consequences of financial crises and the role for official management.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Barry Eichengreen., 1997. "The Baring Crisis in a Mexican Mirror," Center for International and Development Economics Research (CIDER) Working Papers C97-084, University of California at Berkeley.
    • Handle: RePEc:ucb:calbcd:c97-084
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    References listed on IDEAS

    as
    1. A. G. Ford, 1956. "Argentina And The Baring Crisis Of 1890," Oxford Economic Papers, Oxford University Press, vol. 8(2), pages 127-160.
    2. Guillermo A. Calvo & Leonardo Leiderman & Carmen M. Reinhart, 1993. "Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors," IMF Staff Papers, Palgrave Macmillan, vol. 40(1), pages 108-151, March.
    3. Reinhart, Carmen & Calvo, Guillermo & Leiderman, Leonardo, 1992. "Capital Inflows and Real Exchange Rate Appreciation in Latin America," MPRA Paper 13843, University Library of Munich, Germany.
    4. Rudiger Dornbusch & Alejandro Werner, 1994. "Mexico: Stabilization, Reform, and No Growth," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 25(1), pages 253-316.
    5. W. J. Macpherson, 1955. "Investment In Indian Railways, 1845–1875," Economic History Review, Economic History Society, vol. 8(2), pages 177-186, December.
    6. Harley, C. Knick, 1982. "Oligopoly Agreement and the Timing of American Railroad Construction," The Journal of Economic History, Cambridge University Press, vol. 42(4), pages 797-823, December.
    7. Fishlow, Albert, 1985. "Lessons from the past: capital markets during the 19th century and the interwar period," International Organization, Cambridge University Press, vol. 39(3), pages 383-439, July.
    8. Guillermo A. Calvo & Leonardo Leiderman & Carmen M. Reinhart, 1993. "Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors," IMF Staff Papers, Palgrave Macmillan, vol. 40(1), pages 108-151, March.
    9. Sachs, Jeffrey & Tornell, Aaron & Velasco, Andres, 1995. "The Collapse of the Mexican Peso: What Have We Learned?," Working Papers 95-22, C.V. Starr Center for Applied Economics, New York University.
    10. J. D. Bailey, 1959. "Australian Borrowing In Scotland In The Nineteenth Century," Economic History Review, Economic History Society, vol. 12(2), pages 268-279, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Javier Santiso, 1997. "Wall Street face à la crise mexicaine : Une analyse temporelle des marchés émergents," SciencePo Working papers Main hal-03579330, HAL.
    2. Edmund Amann & David Lawson, 2013. "International Crises And Developing Economies: Linkages And Recent Experiences," Journal of International Development, John Wiley & Sons, Ltd., vol. 25(8), pages 1035-1049, November.
    3. Mark Casson, 2011. "Entrepreneurial failure and economic crisis: an historical perspective," Working Papers 11015, Economic History Society.
    4. Michael D. Bordo & Marc Flandreau, 2003. "Core, Periphery, Exchange Rate Regimes, and Globalization," NBER Chapters, in: Globalization in Historical Perspective, pages 417-472, National Bureau of Economic Research, Inc.
    5. Michael D. Bordo & Christopher M. Meissner, 2007. "Financial Crises, 1880-1913: The Role of Foreign Currency Debt," NBER Chapters, in: The Decline of Latin American Economies: Growth, Institutions, and Crises, pages 139-194, National Bureau of Economic Research, Inc.
    6. Javier Santiso, 1997. "Wall Street face à la crise mexicaine : Une analyse temporelle des marchés émergents," Post-Print hal-03579330, HAL.
    7. Tim Crumplin, 2007. "Opaque Networks: Business and community in the Isle of Man, 1840-1900," Business History, Taylor & Francis Journals, vol. 49(6), pages 780-801.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Calvo, Guillermo A. & Mendoza, Enrique G., 1996. "Mexico's balance-of-payments crisis: a chronicle of a death foretold," Journal of International Economics, Elsevier, vol. 41(3-4), pages 235-264, November.
    2. Joseph A. Whitt, 1996. "The Mexican peso crisis," Economic Review, Federal Reserve Bank of Atlanta, vol. 80(Jan), pages 1-20.
    3. Sebastian Edwards, 1999. "Crisis Prevention: Lessons from Mexico and East Asia," NBER Working Papers 7233, National Bureau of Economic Research, Inc.
    4. Baer, Werner & Hargis, Kent, 1997. "Forms of external capital and economic development in Latin America: 1820-1997," World Development, Elsevier, vol. 25(11), pages 1805-1820, November.
    5. Calvo, Guillermo A. & Vegh, Carlos A., 1999. "Inflation stabilization and bop crises in developing countries," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 24, pages 1531-1614, Elsevier.
    6. Langhammer, Rolf J. & Schweickert, Rainer, 1995. "The Mexican reform process: improving long-run perspectives and mastering short-run turbulences," Kiel Discussion Papers 255, Kiel Institute for the World Economy (IfW Kiel).
    7. Jean-Pierre Allegret, 2000. "Quel role pour les controles des mouvements internationaux de capitaux ?," Economie Internationale, CEPII research center, issue 81, pages 77-108.
    8. Edwards, Sebastian & Vegh, Carlos A., 1997. "Banks and macroeconomic disturbances under predetermined exchange rates," Journal of Monetary Economics, Elsevier, vol. 40(2), pages 239-278, October.
    9. Levy Yeyati, Eduardo & Sturzenegger, Federico & Reggio, Iliana, 2010. "On the endogeneity of exchange rate regimes," European Economic Review, Elsevier, vol. 54(5), pages 659-677, July.
    10. Kaminsky, Graciela L. & Pereira, Alfredo, 1996. "The debt crisis: lessons of the 1980s for the 1990s," Journal of Development Economics, Elsevier, vol. 50(1), pages 1-24, June.
    11. Luiz Carlos Bresser-Pereira & Paulo Gala, 2008. "Foreign savings, insufficiency of demand, and low growth," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 30(3), pages 315-334, April.
    12. Nunnenkamp, Peter, 1993. "The return of foreign capital to Latin America: good news from the reform front or a case for policy intervention?," Kiel Working Papers 574, Kiel Institute for the World Economy (IfW Kiel).
    13. Marcos Chamon & Paolo Manasse & Alessandro Prati, 2007. "Can We Predict the Next Capital Account Crisis?," IMF Staff Papers, Palgrave Macmillan, vol. 54(2), pages 270-305, June.
    14. Jamilov, Rustam, 2012. "Capital mobility in the Caucasus," MPRA Paper 38184, University Library of Munich, Germany, revised Apr 2012.
    15. Barry Eichengreen & Andrew K. Rose, 1998. "Staying Afloat When the Wind Shifts: External Factors and Emerging-Market Banking Crises," NBER Working Papers 6370, National Bureau of Economic Research, Inc.
    16. Jeffrey A. Frankel, 2010. "Monetary Policy in Emerging Markets: A Survey," NBER Working Papers 16125, National Bureau of Economic Research, Inc.
    17. Nunnenkamp, Peter, 1998. "Boom and bust in capital flows to developing countries: what South Asia can learn from recent financial crises," Kiel Working Papers 853, Kiel Institute for the World Economy (IfW Kiel).
    18. Jean-Pierre Allegret & Alain Sand-Zantman, 2009. "Modeling the Impact of Real and Financial Shocks on Mercosur: The Role of the Exchange Rate Regime," Open Economies Review, Springer, vol. 20(3), pages 359-384, July.
    19. Luiz Carlos Bresser-Pereira & Yoshiaki Nakano, 2003. "Economic growth with foreign savings?," Brazilian Journal of Political Economy, Center of Political Economy, vol. 23(2), pages 163-188.
    20. Pedro Marcelo Oviedo, 2004. "Macroeconomic risk and banking crises in emerging market countries: business fluctuations with financial crashes," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.

    More about this item

    JEL classification:

    • F1 - International Economics - - Trade
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ucb:calbcd:c97-084. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Christopher F. Baum (email available below). General contact details of provider: https://edirc.repec.org/data/debrkus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.