The Baring Crisis and the Great Latin American Meltdown of the 1890s
Bibliographic Data
| ID | 10100560 |
|---|---|
| Authors | Kris James Mitchener (Santa Clara University, corresponding author), Marc D Weidenmier, Marc Weidenmier (0000-0002-6352-0439, Claremont McKenna College) |
| Year | 2008 |
| Volume | 68 |
| Issue | 2 |
| Pages | 462-500 |
| Publication date | 2008-05-14 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Journal of Economic History (JOURNAL) |
| Journal identifiers | ISSN: 0022-0507 • E-ISSN: 1471-6372 |
| Publisher | Cambridge University Press (CUP) (PUBLISHER) |
| DOI | 10.1017/s0022050708000375 |
| OpenAlex | W2145369588 |
| Language | EN |
| Citations received | 19 |
| References cited | 26 |
The Baring Crisis is the nineteenth century's most famous sovereign debt crisis. Using a database of more than 15,000 observations, we assess its effect on emerging market borrowers and find empirical evidence of a regional crisis but not a global crisis. During the crisis, Latin American yield spreads increased by more than 200 basis points relative to the rest of the world, even after controlling for macroeconomic, trade, political-institutional factors, and other country-specific effects. Our evidence suggests that European investors may have sold off or reduced their holdings of Latin American securities in the wake of the Baring Crisis
Debt · Debt crisis · Economics · Emerging markets · Financial crisis · Financial system · Keynesian economics · Latin Americans · Political science · Politics · Sovereign debt · Sovereignty · Banking stability, regulation, efficiency · Economic Theory and Policy · Finance · Global Financial Crisis and Policies
Financial Crises, History of
Country banks and the Panic of 1825
Robust Inference With Multiway Clustering
Remote investing in Latin America, 1869–1929
Deutsche Banken auf dem Weg in die zweite Globalisierung
Central Banks at War
Rothschilds’ “Delicate and Difficult Task”
Capital formation in Latin America
Sovereign debt in Latin America, 1820-1913
Political institutions and sovereign borrowing
Under German Eyes
The first global emerging markets investor
UK investment trusts and the Baring crisis
Agents, brokerage and Argentinian railways 1880–1905
Executive Constraint and Sovereign Debt
High & Dry
Government versus Bankers
Was It Prices, Productivity or Policy? Latin American Industrialisation after 1870
Integration between the London and New York Stock Exchanges, 1825-1925
The East Asian Financial Crisis
Recovery From Depression
Recursive and Sequential Tests of the Unit-Root and Trend-Break Hypotheses
Robust Inference With Multiway Clustering
The Gold Standard as a “Good Housekeeping Seal of Approval”
The Empire Effect
International Comparisons of Real Product, 1820–1990
The Gold Standard, 1880-1914
Debt cycles in the world-economy
The Baring Crisis in a Mexican Mirror
A Monetary History of the United States, 1867-1960
The World Economy
The Unholy Trinity of Financial Contagion
| Unique citing works | 19 |
|---|---|
| Citations per year | 1,12 |
| Citation span | 2009 - 2026 (18) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 19 |