Bank of Barcelona’s credit policy between 1844 and 1856: ¿prudent or procyclical?

Authors

  • Yolanda Blasco Martel Universitat de Barcelona
  • Pilar Nogués Marco Sciences-Po de París

DOI:

https://doi.org/10.1344/rhi.v16i34.19807

Keywords:

XIXth Century Catalan Banking, Bank of Barcelona, Credit Policy, Economic Cycle

Abstract

The paper analyses the Bank of Barcelona’s credit policy in mid 19th century. Historiography has considered that the company’s activity during this period was prudent and conservative. Our aim is to compare the Bank of Barcelona’s credit policy with the evolution of the economic cycle. The risk-profitability analysis concludes that the Bank of Barcelona implemented a pro-cyclical credit policy in prosperity periods and a counter-cyclical credit policy in recession periods.

Published

2017-09-04

Issue

Section

Articles