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Guano, compromisos creíbles y el pago de la deuda externa peruana del siglo XIX

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  • Catalina Vizcarra

    () (Universidad de Vermont)

Abstract

La experiencia del Perú con la deuda externa durante el boom de la era del guano es una de las más notables en el siglo XIX. A pesar de la continua inestabilidad política y de la pobre reputación en los mercados financieros, el precio de los bonos peruanos se incrementó después de 1849 y el país disfrutó de riesgo de crédito relativamente bajo hasta 1870. Este artículo analiza los incentivos que Perú y sus acreedores enfrentaron y explica cómo el rendimiento extraordinario de Perú se fundó en su compromiso creíble de honrar su deuda con los ingresos del guano.

Suggested Citation

  • Catalina Vizcarra, 2011. "Guano, compromisos creíbles y el pago de la deuda externa peruana del siglo XIX," Revista Economía, Fondo Editorial - Pontificia Universidad Católica del Perú, vol. 34(67), pages 9-39.
  • Handle: RePEc:pcp:pucrev:y:2011:i:67:p:9-39
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    File URL: http://revistas.pucp.edu.pe/index.php/economia/article/view/2612/2561
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    More about this item

    Keywords

    foreign debt; Perú; nineteenth century; guano;

    JEL classification:

    • N56 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Latin America; Caribbean
    • Q33 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Resource Booms (Dutch Disease)

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