The limits of hegemony: U.S. banks and Chilean firms in the Cold War

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dc.coverageDOI: 10.1016/j.jdeveco.2023.103212
dc.creatorAldunate, Felipe
dc.creatorGonzález, Felipe
dc.creatorPrem, Mounu
dc.date2024
dc.date.accessioned05-01-2026 18:06
dc.date.available05-01-2026 18:06
dc.description<p>Governments in hegemonic states use economic sanctions to induce changes in other countries. What happens to international business networks when these sanctions are in place? We use new historical firm-level data to document the destruction of financial relations between U.S. banks and Chilean firms after socialist Salvador Allende took office in 1970. Business reports and stock prices suggest that firms were mostly unaffected by having fewer links with U.S. banks. Substitution of financial relations towards domestic banks appears to be the key mechanism explaining these findings.</p>eng
dc.identifierhttps://investigadores.uandes.cl/en/publications/a357e0c7-35f3-4d1d-9cae-59474a84cba8
dc.languageeng
dc.rightsinfo:eu-repo/semantics/restrictedAccess
dc.sourcevol.166 (2024)
dc.subjectBanks
dc.subjectCold War
dc.subjectFirms
dc.subjectSalvador Allende
dc.subjectUnited States
dc.titleThe limits of hegemony: U.S. banks and Chilean firms in the Cold Wareng
dc.typeArticleeng
dc.typeArtículospa
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