Los bancos de desarrollo en América Latina: la experiencia de Nacional Financiera durante la industrialización vía sustitución de importaciones mexicana (1940-1970)

Abstract

The post-war was a period of industrialization for most Latin American countries, with an active intervention of the State. In this context, development banks arose at the national level, which main objective was to allocate resources to productive projects or infrastructure, especially in those activities that were not feasible for the private sector. In Mexico, although Nacional Financiera SA was founded in the mid-thirties, it was defined as a development bank in the early forties, with the beginning of the import substitution industrialization process. Therefore, the purpose of this study is to revise the history of the institution and its relation with the industrial sector between 1940 and 1970. Taking into account the logic of the industrialization process and the Mexican economic policies, this work is a contribution to the study of the role played by the financial structure in the industrialization process in Mexico. In addiction, this work fits in the discussion about the problems of the import substitution industrialization in Latin America, and in particular the debates on the Mexican industrialization.Development banks, Industrialization, Imports substitution, Mexico, Financial Structure, Post-war, Economic policies, Foreign capital, financial institutions