Abstract

ROJAS, Angela Milena. Domestic Public Debt, Gold Standard and Civil Wars: Institutional Interconnections in the Colombia of the XIX Century. Lect. Econ. [online]. 2007, n.67, pp.195-223. ISSN 0120-2596.

This article analyzes the monetary and institutional impacts of the domestic public debt in 19th century Colombia. It shows the nature of this debt and its evolution so as to ultimately sketch one side of the institutional matrix of that century. The article draws upon the New Economic Institutionalism and it is derived from a broader research where fiscal data and qualitative information were built by using primary sources. It points out the close link between the issuing of debt notes and civil wars, and displays evidence on how this debt structured an impure gold standard. It is found that this debt had impact on the price level and strengthened the persistence of the monetary chaos and civil wars.

Keywords : domestic public debt; gold standard; civil war; institutions; nineteen century.

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