Without Distinguishing Color or Profession: Culture, Vatican II and the Long-Term Development of Credit Institutions in Bolivia

Brian Norris

Abstract


By the late 20th and early 21st century, credit institutions in Bolivia had become more complex, resilient and popular that at any time previously in its history. Traditional economics analyses emphasize incentives created by laws such as those promulgated by the Kemmerer mission in Bolivia in the 1920s and 30s, or material factors, such as transportation costs. Yet neither of these explanations offers a compelling explanation for the magnitude of the flourishing of popular and complex credit institutions in Bolivia after the 1960s. Cultural changes, however, might offer a compelling complement to legal and material explanations of credit development. Vatican II represented an important mass change in Bolivian culture, and institutions associated with these reforms ushered in a new era of credit institution development in the country.

A finales del siglo XX y comienzos del XXI, las instituciones crediticias en Bolivia se volvieron más complejas, elásticas y populares que en cualquier otro momento de su historia. Los análisis económicos tradicionales ponen de relieve los incentivos creados por leyes como las promulgadas por la misión Kemmerer en Bolivia en las décadas de 1920 y 1930, o factores materiales, tales como los costos de transporte. Con todo, ninguna de estas explicaciones ofrece una explicación convincente de la importancia del florecimiento de instituciones crediticias populares y complejas en Bolivia después de la década de 1960.  No obstante, los cambios culturales podrían ofrecer un complemento de peso a las explicaciones legales y materiales del desarrollo del crédito. El Concilio Vaticano II representa un importante cambio en la cultura boliviana, y las instituciones asociadas con sus reformas marcan el comienzo de una nueva era en el desarrollo de la institución crediticia en el país.             


Keywords


ayllu bank, credit, culture, Kemmerer Mission in Bolivia, Vatican II, banca, cultura, crédito, Misión Kemmerer en Bolivia

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DOI: https://doi.org/10.5195/bsj.2015.125

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Copyright (c) 2016 Brian Norris

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