TY - JOUR
T1 - Political instability and non-price loan terms in Lima, Peru
T2 - Evidence from notarized contracts
AU - Zegarra, Luis Felipe
N1 - Publisher Copyright:
© The Author 2016.
PY - 2016/11
Y1 - 2016/11
N2 - This article analyzes the effects of political instability on the provision of credit in 1835-1865, paying special attention to non-price loan terms. By relying on a sample of more than 1,700 notarized records, the article shows that political instability had an important effect on the amount and length of loans. As Peru became politically more stable after the mid-1840s, private lenders made larger loans with longer maturities. Medium-term credit among approved loans was more frequent after political stabilization. Long-term credit, however, was not common during this period.
AB - This article analyzes the effects of political instability on the provision of credit in 1835-1865, paying special attention to non-price loan terms. By relying on a sample of more than 1,700 notarized records, the article shows that political instability had an important effect on the amount and length of loans. As Peru became politically more stable after the mid-1840s, private lenders made larger loans with longer maturities. Medium-term credit among approved loans was more frequent after political stabilization. Long-term credit, however, was not common during this period.
UR - http://www.scopus.com/inward/record.url?scp=85015623605&partnerID=8YFLogxK
U2 - 10.1093/ereh/hew012
DO - 10.1093/ereh/hew012
M3 - Review article
AN - SCOPUS:85015623605
SN - 1361-4916
VL - 20
SP - 478
EP - 525
JO - European Review of Economic History
JF - European Review of Economic History
IS - 4
ER -
