The series of banking failures in Buenos Aires Province in the 1800s was due not to a shortage of precious metals but to inefficient regulation, burdensome Treasury deficits and monopoly power. This is yet another historical example of how wars result in the degradation of monetary and banking institutions.

Adrián Osvaldo Ravier is a professor and research fellow in the School of Business at University Francisco Marroquin.
Nicolás Cachanosky is associate professor in the Department of Economics at Metropolitan State University of Denver.
Economic PolicyEconomyFederal Reserve and Central BankingInternational Economics and DevelopmentLatin America
Other Independent Review articles by Adrián Osvaldo Ravier
Winter 2014/15 A Proposal of Monetary Reform for Argentina: Flexible Dollarization and Free Banking
Other Independent Review articles by Nicolás Cachanosky
Fall 2019 Latin American Populism in the Twenty-First Century
Winter 2017/18 Money: Free and Unfree
Fall 2015 Money, Banking, and the Business Cycle. Volume 1: Integrating Theory and Practice. Volume 2: Remedies and Alternative Theories
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