Resumen

TORRES MORENO, James Vladimir. Interest rates and economic performance: trade credit in Santafe de Bogota, 1760-1810. Am. Lat. Hist. Econ [online]. 2014, vol.21, n.3, pp.09-45. ISSN 2007-3496.

This article analyzes the credit given by merchants in Santafe de Bogota between 1760 and 1809. This required the preparation of interest rates and loans in both currency and Castilian effects, which permitted a long-term behavior analysis. It was found that the capital's merchants made increasing amounts of loanable funds available for the colonial economy. Meanwhile, towards the end of the century, the evolution of interest rates points towards a reduction in the maximum rates, as well as a consequential relaxation of the credit supply. Furthermore it became apparent that the money market significantly reduced its transaction costs while swelling its capital turnover, thus creating an increased incentive for merchants to augment their currency loans, which in turn may have stimulated economic growth.

Palabras llave : economic history; credit; interest rates; merchants; Santafe de Bogota.

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