Agricultural Workers’ Standard of Living During Central Chile's Agrarian Expansion, 1870-1930

Ortiz, Claudio Robles; González-Correa, Ignacio; Campos, Nora Reyes; Aliaga, Uziel González

doi:10.1017/s0212610921000100

Cited by 2 publications

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References 35 publications

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“…Additionally, a study on the CCA would contribute to further improve our understanding of the development of the agricultural sector during our period of study, which later economists saw it as a backward sector (Mamalakis 1976). This view, though, has been recently revised by Claudio Robles (2009, 2018, and Robles et. al., 2021.…”

Section: Introductionmentioning

confidence: 99%

A state-owned bank for small farmers in Chile, c.1926-1953

González-Correa

2021

J. evol. stud. bus.

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This article deals with the creation and operations of the first agricultural development bank ever created in Chile, the Caja de Crédito Agrario (CCA), founded in 1926, in operations until 1953. The main sources are the annual reports of CCA from 1933 to 1951. The main contributions are to show first that the CCA was instrumental to provide subsidized long-term capital to small farmers in Chile to promote agricultural production, but that also had a “social mission”. The CCA soon became a protagonist within the local financial market. Given the lack of knowledge about the modus operandi of development banks in Latin America, we provide the first account of the management and financial activities of the CCA. We show that the management structure of the firm, and in particular its strategy of decentralization, was key to explain its success. Likewise, the CCA managed successfully to raise increasing amounts of capital from other state institutions at low interest rates, thus being able to cover its increasing loan operations.

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Section: Introductionmentioning

confidence: 99%

A state-owned bank for small farmers in Chile, c.1926-1953

González-Correa

2021

J. evol. stud. bus.

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Fostering Agriculture under the Industrializing State: The Caja de Crédito Agrario and Agricultural Credit in Post-Depression Chile, 1926-53

González-Correa

Ortiz

2022

HIST AGRAR

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This paper analyzes the role of the Caja de Crédito Agrario (CCA) in the development of the agricultural credit market in post-depression Chile. Employing its official annual reports, reports from the Superintendency of Banks, and Chile’s Statistical Yearbooks, we constructed the first series of CCA’s credit operations, and established trends in the number, the average amount, and the social, geographic, and specific economic activity distribution of all loans. From 1927 to 1952, CCA loans represented 11.5% of all commercial bank loans, and in the latter year the CCA lent more money to agriculture than any other bank. The CCA became Chile’s largest agricultural bank, right before being merged with other institutions to create the State Bank of Chile. The CCA’s credit was decentralized: its operations evolved towards a fairly balanced distribution of loans among Chile’s main agricultural provinces. This was a micro-credit institution that allocated the vast majority of its loans to small farmers, who otherwise would not have access to formal credit. The CCA was a public policy tool for helping small farmers produce food for domestic consumption. Contrary to conventional views, in Chile the industrialization-promoting state did also foster agricultural growth through CCA public credit.

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Agricultural Workers’ Standard of Living During Central Chile's Agrarian Expansion, 1870-1930

Cited by 2 publications

References 35 publications

A state-owned bank for small farmers in Chile, c.1926-1953

A state-owned bank for small farmers in Chile, c.1926-1953

Fostering Agriculture under the Industrializing State: The Caja de Crédito Agrario and Agricultural Credit in Post-Depression Chile, 1926-53

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