Abstract
The Baring crisis of 1890 is one of the world’s most famous financial crises over the last 200 years. The crisis is well known because the Bank of England put together a rescue fund to save the House of Baring. The investment banking firm was in financial trouble because it was the primary debt issuer for Argentina which was experiencing an economic and financial downturn.The Baring crisis is regarded as an early example of a central bank playing the role of a lender of last resort.
This chapter was originally published in The New Palgrave Dictionary of Economics, Online edition, 2009. Edited by Steven N. Durlauf and Lawrence E. Blume
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Weidenmier, M. (2009). The Baring Crisis of 1890. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95121-5_2958-1
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DOI: https://doi.org/10.1057/978-1-349-95121-5_2958-1
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Publisher Name: Palgrave Macmillan, London
Online ISBN: 978-1-349-95121-5
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