Banking Regulation and the Creation of Issuing Banks in Latin America in the 19th Century: A Comparative Analysis (Spain, Portugal, Argentina, Brazil and Chile)
DOI:
https://doi.org/10.18441/ibam.24.2024.87.131-157Keywords:
Iberoamerica, Issuing Banks, Banking Regulation, Statutes, 19th CenturyAbstract
This paper aims to discuss the role of banking regulation in the creation of the first Ibero-American issuing banks before 1870. We focus on the study of the regulation of issuing banks founded in Spain, Portugal, Argentina, Brazil and Chile, former metropolises
and former Iberian colonies. Our analytical framework considers the importance of the law in the construction of finance, although it emphasizes the importance of the context and the institutions rather than the legal framework to understand the evolution of the Ibero-American banking systems. We analyze the first constitutions, commercial codes, banking laws and bank statutes, as well as the creation of issuing banks. The main contribution consists in highlighting the bank statutes as the origin of the issuing banks and the statutes of the banks analyzed.
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