Baring Crisis of 1890
The Baring crisis of 1890 is one of the world’s most famous financial crises over the last 200 years. The crisis is well known because the Bank of England put together a rescue fund to save the House of Baring. The investment banking firm was in financial trouble because it was the primary debt issuer for Argentina which was experiencing an economic and financial downturn.The Baring crisis is regarded as an early example of a central bank playing the role of a lender of last resort.
KeywordsArgentina Banking Baring Banking crises Latin America Lender of last resort
JEL ClassificationsN23 G01
- Marichal, C. 1989. A century of debt crises in Latin America. Princeton: Princeton University Press.Google Scholar
- Mitchener, K., and M. Weidenmier. 2008. Baring crisis and the Great Latin American meltdown of the 1890s. Journal of Economic History 68: 462–500.Google Scholar
- Williams, J. 1920. Argentine international trade under inconvertible paper currency, 1880–1900. Cambridge, MA: Harvard University Press.Google Scholar