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

Journal of Evolutionary Studies in Business

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Field Value
 
Title A state-owned bank for small farmers in Chile, c.1926-1953
 
Creator González-Correa, Ignacio
Llorca-Jaña, Manuel
 
Subject Economic History; Business; Managment
development banks; state-owned banks; Chile; Caja de Crédito Agrario

 
Description 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.
 
Publisher Universitat de Barcelona
 
Contributor Proyecto Anillos ANID PIA SOC180001
 
Date 2021-07-01
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article

 
Format application/pdf
 
Identifier https://revistes.ub.edu/index.php/JESB/article/view/j093
10.1344/jesb2021.2.j093
 
Source Journal of Evolutionary Studies in Business; Vol 6, No 2 (2021); 87-125
Journal of Evolutionary Studies in Business; Vol 6, No 2 (2021); 87-125
2385-7137
 
Language eng
 
Relation https://revistes.ub.edu/index.php/JESB/article/view/j093/34576
/*ref*/<p class="Referencestitle"><strong>Acknowledgements</strong></p><p class="Text">The authors thank the editors and the anonymous referees. We are very grateful to Rory Miller and Claudio Robles for general advice, as well as to Uziel González. This article received funding from Proyecto Anillos ANID PIA SOC180001.</p><p class="References"><strong>Primary sources</strong></p><p>CCA Annual Reports (CCA-AR), 1933-1951.</p><p><em>El Mercurio</em>, 1933-1953.</p><p>Central Bank Annual Reports (BCCH-AR), 1932-1953.</p><strong>References</strong><p>Aguilar, Gustavo and Ana Isabel Grijalva. 2011. “Estado, banca y crédito agrícola en Sinaloa y Sonora: El Banco de Sinaloa y el Banco Agrícola Sonorense, 1933-1976.” <em>Mundo Agrario</em> 11, 22. <a href="http://www.memoria.fahce.unlp.edu.ar/art_revistas/pr.4797/pr.4797.pdf">http://www.memoria.fahce.unlp.edu.ar/art_revistas/pr.4797/pr.4797.pdf</a></p><p>Aguirre-Briones, Andrés (2020). “La rentabilidad financiera de los grupos económicos chilenos en el largo plazo (1938-1988).”. <em>Investigaciones de Historia Económica</em> 16 (3), 76-98. doi: <a href="https://doi.org/10.33231/j.ihe.2020.03.001">10.33231/j.ihe.2020.03.001.</a></p><p>Alacevich, Michele. 2009. <em>The Political Economy of the World Bank: The Early Years</em>. 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Coverage Latin America
20th century

 
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