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Free Banking and Bank Entry in Latin America

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This article analyzes the impact of free-banking on the banking sector in Latin America in the 19th and early 20th centuries. I use data for seven countries to compare the entry of banks and the growth of bank output prior and after the enactment of free-banking laws to determine whether free-banking (by establishing general requirements for granting note-issuance rights) lowered barriers to entry. The results show that in most Latin American countries the adoption of free-banking laws did not cause in the short run an increase in bank entry and in bank output growth. JEL Classification: O54, N26, N20, G21 Keywords: Latin America, banking sector, bank laws, bank entry

Author(s): Zegarra, Luis Felipe
Series: CENTRUM Católica’s Working Paper Series
Publisher: Pontificia Universidad Católica del Perú (PUCP) - CENTRUM
Year: 2012

Language: English
City: Lima
Tags: Latin America; Americas; América latina; Latinoamérica; Peru