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Ciclo seminarios CEA-MIPP / Felipe González, PUC

12:00 horas, Sala de Consejo, Beauchef 851 (4to piso).

Invitado: Felipe González, Profesor de Economía UC.

Tema: “The Limits of Hegemony:Banks, Covert Actions, and Foreign Firms”, en coautoría con Felipe Aldunate y Mounu Prem.

Abstract

Economic sanctions and covert actions from hegemonic states are common policies to influence the behavior of foreign countries. However, less is known about the role of non-state actors and their economic impact on foreign agents. We use novel firm-level data from Chile to document a substantial decrease in financial relations with U.S. banks after socialist Salvador Allende took office in 1970. An analysis of links with banks from other countries reveals that part of the decrease was related to credit risk and another was specific to the U.S. banking sector. Data from business reports and the stock market suggest that firms were mostly unaffected by the destruction of links with U.S. banks. Substitution of financial relations towards state-owned banks appears to be the key mechanism to explain these findings.

Organizan: Centro de Economía Aplicada (CEA) e Instituto Milenio MIPP.

Más información aquí

Contacto y confirmación asistencia: Olga Barrera / obarrera@dii.uchile.cl