Historia de la deuda exterior de México

Bažant, Jan

doi:10.2307/j.ctvhn0b5h

Cited by 22 publications

(9 citation statements)

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“…The sources are numerous. The material comes from large-scale historical statistical compendiums (such as Carreras and Tafunell, 2005, Estadísticas Históricas de España, Siglos XIX-XX) or from individual scholars (for example, Bazant's, 1968, careful study of Mexico's domestic and foreign debt, Historia de la Deuda Exterior de Mexico: 1823Mexico: -1946. Colonial records were also a valuable source of information for pre-1914; country-specific statistical and government agencies provide data for the more recent period.…”

Section: Data Preliminariesmentioning

confidence: 99%

The Forgotten History of Domestic Debt

Reinhart

Rogoff

2008

100

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, and seminar participants at Columbia, Harvard, and Maryland universities for useful comments and suggestions and to Ethan Ilzetzki for excellent research assistance. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peerreviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications.

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Section: Data Preliminariesmentioning

confidence: 99%

The Forgotten History of Domestic Debt

Reinhart

Rogoff

2008

100

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“…44 While the British had been Mexico's principal overseas creditors before 1861, the tripling of Mexico's foreign debt during the intervention was largely financed by the French. 45 Faced with lacklustre results in London, the Commission des finances du Mexique replaced the conventional 6% bonds issued by Glyn Mills with lottery bonds. 46 The use of the latter reflected a shift in the market for Mexican securities.…”

Section: [Insert Table 1 Here]mentioning

confidence: 99%

The Mexican Expedition of 1862–1867 and the End of the French Second Empire

Greenfield

2020

Hist. J.

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The French expedition to Mexico from 1862 to 1867 rarely features in accounts of the origins of the Franco-Prussian War or of the liberalization of the French Second Empire in its final years. By contrast, this article uses a range of archival and published sources to argue that the failure of the Mexican expedition was an important factor in the crisis that convulsed French politics in the late 1860s. The legitimacy of the fiscal-military system was undermined, partly because of the burdens that the expedition imposed on the French people. There resulted difficulties over finance and the army, which hindered the Second Empire's ability to confront the Prussian threat and accelerated the emergence of the ‘Liberal Empire’ with the constitutional reforms of 1867–70. Liberalization, though, could not rescue the imperial regime, and the legitimacy crisis of the Second Empire was only resolved by a transition to a parliamentary democracy under the Third Republic.

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“…Mexico is also noteworthy because of two apparent anomalies -the steep rise in bond prices in the late 1840s and in the 1860s-. The former is associated with the U.S. indemnity payment, of which a portion was earmarked for bondholders, a key ingredient in the partially successful settlement of 1850 (Tenenbaum, 1986;Bazant, 1968 The French invasion was preceded by a series of events in 1860-1861 that were intimately involved with the foreign debt. A dispute over claims culminated in a mid-1861 announcement that Mexico would begin a two-year moratorium on all foreign debt payments.…”

Section: Wars and The Bond Marketmentioning

confidence: 99%

War and Foreign Debt Settlement in Early Republican Spanish America

Sicotte

Vizcarra

2009

RHE / JILAEH

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Upon gaining independence, most Spanish American countries had accumulated a substantial external debt, and by 1829 each defaulted. It took decades for these countries to settle their debts and even longer for them to access new loans. We argue that a major factor influencing the pattern of debt service was the incidence of war. War created incentives for governments to channel scarce resources to «emergency» spending and domestic debt service, rather than to the repayment of the foreign debt. Interestingly, we detect an asymmetry between countries long in good standing with creditors and those that had only recently settled. Countries that had established a longer record of continuous debt service were far less likely to default in times of war. We also find that international wars were responsible for the largest effects.

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Historia de la deuda exterior de México

Cited by 22 publications

References 0 publications

The Forgotten History of Domestic Debt

The Forgotten History of Domestic Debt

The Mexican Expedition of 1862–1867 and the End of the French Second Empire

War and Foreign Debt Settlement in Early Republican Spanish America

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