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Banca, legitimidad estatal y nacionalismo económico: la disputa por el banco único de emisión en el Congreso Constituyente de 1916-1917

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  • Lomelí Vanegas, Leonardo

    (UNAM)

  • Valverde Ambriz, Ismael D.

    (UNAM)

Abstract

This article analyzes the debate surrounding the creation of the sole issuing bank during the 1916-1917 Constitutional Congress as an early expression of Mexican economic nationalism. By drawing on primary sources, it examines the tensions among three economic doctrines: economic liberalism, financial pragmatism, and revolutionary economic nationalism. It argues that control over monetary issuance was conceived as an instrument of state legitimacy and economic sovereignty in the new post-revolutionary regime. Although the state monopoly was not immediately consolidated, the debate laid the groundwork for the Banco de Mexico (1925) and the interventionist state model of the 1930s.

Suggested Citation

  • Lomelí Vanegas, Leonardo & Valverde Ambriz, Ismael D., 2025. "Banca, legitimidad estatal y nacionalismo económico: la disputa por el banco único de emisión en el Congreso Constituyente de 1916-1917," El Trimestre Económico, Fondo de Cultura Económica, vol. 92(368), pages 863-889, October-D.
    • Handle: RePEc:elt:journl:v:92:y:2025:i:368:p:863-889
    DOI: https://doi.org/10.20430/ete.v92i368.3180
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    JEL classification:

    • B27 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - International Trade and Finance
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • N26 - Economic History - - Financial Markets and Institutions - - - Latin America; Caribbean

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