Charles W. Calomiris

Stephen H. Haber

Looks at the history of the banking systems of the United Kingdom, the United States, Canada, Mexico, and Brazil, arguing that banking crises and scarce credit result from the ways that politics and banking intersect in a given country.

The Political Origins of Banking Crises and Scarce Credit

Fragile by Design

In 1800, the per capita income of the United States was twice that of Mexico and roughly the same as Brazil's. By 1913, it was four times greater than Mexico's and seven times greater than Brazil's. This volume seeks to explain the nineteenth-century lag in Latin American economic development. Breaking with the longstanding dependency tradition in Latin American historiography, the contributors argue that the slowdown had far more to do with internal political and legal structures than foreign influences. Topics covered include the performance of Mexico and Brazil, the impact of independence, capital markets, regional growth, the impact of railroads, and the economic effects of 'culture'. The editor's introductory essay surveys the history of economic growth theories and Latin American economic historiography. -- Publisher's description.

Stephen H. Haber

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