Análisis de noticias económicas y financieras, ofreciendo información actualizada –
The International Monetary Conference held in Genoa in 1922 adopted a number of “resolutions,” the ninth of which led to the establishment of the gold exchange standard. These resolutions emphasized four essential points:
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In 1925, the Coffee Institute of Brazil sought to obtain a loan from New York in order to build storage facilities for coff…
Ignorance of economic mechanisms largely accounts for this policy, which helped direct part of the active population toward an unproductive and already overcrowded commercial sector, drawn, if not by the black market, at leas…
The depression of 1929–1933 had multiple causes unrelated to the international monetary system itself. It nevertheless became an additional factor in that system’s collapse. From September 1931 onward, the breakdown of the go…
Devaluation not only failed to prevent capital flight; it frequently intensified it. Most Latin American republics, whose currencies depreciated in 1929 and 1930, resorted to exchange controls in 1931 and 1932. In Europe, Den…
Despite the lack of highly precise data, it is known that a significant portion of the foreign exchange accumulated by France between 1926 and 1928 consisted of pounds sterling. Thus, part of the gold held by the Bank of Engl…
As price increases were more rapid in France than abroad, the government was compelled to devalue the franc on several occasions. For these structural reasons, a deficit in the French balance of payments emerged; what is cert…
The Federal Reserve Act, which established the United States central banking system in 1913, granted national banks, for the first time, the right to engage in acceptance operations. By 1917, total dollar acceptances arising …
Through its various forms, credit is essential to finance the expansion of operations, not only because it makes growth possible, but also because it allows the exploitation of leverage when the cost of borrowed capital (cred…
The period over which the net cash flows generated by a project are to be considered is of paramount importance for evaluation purposes. It is necessary to define a specific horizon, since it is entirely unrealistic and impra…
