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]
AbstractThis 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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 35460.
Date of creation: 17 Dec 2012
Date of revision:
systemic risk; social network analysis; financial history; free banking; 19th Century; Antioquia;
Find related papers by 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
This paper has been announced in the following NEP Reports:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Morten L. Bech & Enghin Atalay, 2008.
"The topology of the federal funds market,"
354, Federal Reserve Bank of New York.
- Bech, Morten L. & Atalay, Enghin, 2010. "The topology of the federal funds market," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 389(22), pages 5223-5246.
- Miguel Urrutia, 2007. "Precios y Salarios Urbanos en el Siglo XIX," DOCUMENTOS CEDE 004381, UNIVERSIDAD DE LOS ANDES-CEDE.
- Tobias Adrian & Hyun Song Shin, 2008.
"Liquidity and leverage,"
328, Federal Reserve Bank of New York.
- Luz Stella Flórez Ríos, 2008. "Evolución de la Teoría Financiera en el Siglo XX," REVISTA ECOS DE ECONOMÍA, UNIVERSIDAD EAFIT.
- Battiston, Stefano & Delli Gatti, Domenico & Gallegati, Mauro & Greenwald, Bruce & Stiglitz, Joseph E., 2012.
"Liaisons dangereuses: Increasing connectivity, risk sharing, and systemic risk,"
Journal of Economic Dynamics and Control,
Elsevier, vol. 36(8), pages 1121-1141.
- Stefano Battiston & Domenico Delli Gatti & Mauro Gallegati & Bruce C. Greenwald & Joseph E. Stiglitz, 2009. "Liaisons Dangereuses: Increasing Connectivity, Risk Sharing, and Systemic Risk," NBER Working Papers 15611, National Bureau of Economic Research, Inc.
- Michael D. Bordo & Michael J. Dueker & David C. Wheelock, 2002.
"Aggregate Price Shocks and Financial Instability: A Historical Analysis,"
Western Economic Association International, vol. 40(4), pages 521-538, October.
- Michael D. Bordo & Michael J. Dueker & David C. Wheelock, 2000. "Aggregate Price Shocks and Financial Instability: An Historical Analysis," NBER Historical Working Papers 0125, National Bureau of Economic Research, Inc.
- Michael D. Bordo & Michael J. Dueker & David C. Wheelock, 2000. "Aggregate Price Shocks and Financial Instability: An Historical Analysis," NBER Working Papers 7652, National Bureau of Economic Research, Inc.
- Michael D. Bordo & Michael J. Dueker & David C. Wheelock, 2001. "Aggregate price shocks and financial instability: a historical analysis," Working Papers 2000-005, Federal Reserve Bank of St. Louis.
- Xin Huang & Hao Zhou & Haibin Zhu, 2009.
"A framework for assessing the systemic risk of major financial institutions,"
Finance and Economics Discussion Series
2009-37, Board of Governors of the Federal Reserve System (U.S.).
- Huang, Xin & Zhou, Hao & Zhu, Haibin, 2009. "A framework for assessing the systemic risk of major financial institutions," Journal of Banking & Finance, Elsevier, vol. 33(11), pages 2036-2049, November.
- Xin Huang & Hao Zhou & Haibin Zhu, 2009. "A Framework for Assessing the Systemic Risk of Major Financial Institutions," BIS Working Papers 281, Bank for International Settlements.
- Ana Babus, 2007.
"The Formation of Financial Networks,"
2007.69, Fondazione Eni Enrico Mattei.
- Angela Milena Rojas Rivera, 2007. "Deuda pública interna, patrón metálico y guerras civiles: interconexiones institucionales, la Colombia del siglo XIX," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 67, pages 195-224, Julio-Dic.
- Bartram, Sohnke M. & Brown, Gregory W. & Hund, John E., 2007.
"Estimating systemic risk in the international financial system,"
Journal of Financial Economics,
Elsevier, vol. 86(3), pages 835-869, December.
- Bartram, Söhnke M. & Brown, Gregory W. & Hund, John E., 2005. "Estimating Systemic Risk in the International Financial System," MPRA Paper 6658, University Library of Munich, Germany.
- Ignacio Briones & Hugh Rockoff, 2005. "Do Economists Reach a Conclusion on Free-Banking Episodes?," Econ Journal Watch, Econ Journal Watch, vol. 2(2), pages 279-324, August.
- Verwijmeren, Patrick & Derwall, Jeroen, 2010. "Employee well-being, firm leverage, and bankruptcy risk," Journal of Banking & Finance, Elsevier, vol. 34(5), pages 956-964, May.
RePEc Biblio mentionsAs found on the RePEc Biblio, the curated bibliography for Economics:
- > Economic History > Regional Economic History > Latin American Economic History > Economic History of Colombia > Colombian Regional History
- 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 ," MPRA Paper 35627, University Library of Munich, Germany.
- 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 ent," MPRA Paper 48626, University Library of Munich, Germany.
- Mejía Cubillos, Javier, 2012.
"Crecimiento económico de largo plazo en Antioquia, Colombia: Estimación del PIB. 1800-1913
[Long term economic growth in Antioquia, Colombia: GDP estimates. 1800-1913]," MPRA Paper 40041, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht).
If references are entirely missing, you can add them using this form.