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Antecedentes históricos de la deuda externa colombiana. De la Paz Británica a la Paz Americana

Author

Listed:
  • Mauricio Avella Gómez

    (Banco de la República)

Abstract

This second paper from Mauricio Avella describes the complete cycle of capital exports originating in the United States in the 1920’s: the conversion of United States into a creditor nation; the role of New York as the dominant financial center; and the distribution of United States investments, particularly in South America. Moreover, it examines the availability of these exports to Colombia, and the consequences from collapsing of external credit granted by the United States. Finally, it reviews the balance of the main international creditors when the export cycle of American capital closed in the 1920’s.

Suggested Citation

  • Mauricio Avella Gómez, 2004. "Antecedentes históricos de la deuda externa colombiana. De la Paz Británica a la Paz Americana," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 6(11), pages 157-206, July-Dece.
    • Handle: RePEc:rei:ecoins:v:6:y:2004:i:11:p:157-206
    as

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    File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/mavella11.pdf
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    References listed on IDEAS

    as
    1. Pedro Aspe Armella & Rudiger Dornbusch & Maurice Obstfeld, 1983. "Financial Policies and the World Capital Market: The Problem of Latin American Countries," NBER Books, National Bureau of Economic Research, Inc, number arme83-1, March.
    2. William A. Darity, 1985. "Loan pushing : doctrine and theory," International Finance Discussion Papers 253, Board of Governors of the Federal Reserve System (U.S.).
    3. Carlos F. Díaz Alejandro, 1983. "Stories of the 1930s for the 1980s," NBER Chapters, in: Financial Policies and the World Capital Market: The Problem of Latin American Countries, pages 5-40, National Bureau of Economic Research, Inc.
    4. Mauricio Avella Gómez, 2003. "Antecedentes históricos de la deuda externa colombiana. La Paz Británica," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 5(9), pages 90-127, July-Dece.
    5. Ocampo, José Antonio & Santiago Montenegro, 1982. "La crisis mundial de los anos treinta en Colombia," Revista Desarrollo y Sociedad, Universidad de los Andes,Facultad de Economía, CEDE, January.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    foreign debt; capital flows; foreign investment; Pax Britannica; Pax Americana;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative

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