NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Evolution and Revolution in the Argentine Banking System under Convertibility: The Roles of Crises and Path Dependence

Lee J. Alston, Andres Gallo

NBER Working Paper No. 8008*
Issued in November 2000
NBER Program(s):   CH    IFM

We provide an analytical narrative of the political and economic causes and consequences of institutional changes in the Argentine banking system. We devote most of our attention to the privatization of the provincial banks. Our story differs from the prevailing wisdom in its stress on the key roles played by convertibility and an independent Central Bank rather than the Fondo Fiduciario.

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