FinObservatory

Crisis atlas / VEN / 1848–1881

Venezuela, 1848–1881

One crisis episode: distinct crisis years merged across gaps of up to two non-crisis years. Types, source agreement, and macro context are drawn from the union of five primary chronologies.

Sovereign debt

Crisis years in this episode

Every distinct (year, type) event inside the 1848–1881 window, with the chronologies flagging it and the count of agreeing sources. Start-year sources (GMD, JST) mark only the first year, so agreement falls in the continuation years.

  1. 1848
    Sovereign debtgmd, rr2 sources
  2. 1849
    Sovereign debtrr1 source
  3. 1850
    Sovereign debtrr1 source
  4. 1851
    Sovereign debtrr1 source
  5. 1852
    Sovereign debtrr1 source
  6. 1853
    Sovereign debtrr1 source
  7. 1854
    Sovereign debtrr1 source
  8. 1855
    Sovereign debtrr1 source
  9. 1856
    Sovereign debtrr1 source
  10. 1857
    Sovereign debtrr1 source
  11. 1858
    Sovereign debtrr1 source
  12. 1859
    Sovereign debtrr1 source
  13. 1860
    Sovereign debtrr1 source
  14. 1861
    Sovereign debtrr1 source
  15. 1862
    Sovereign debtrr1 source
  16. 1865
    Sovereign debtgmd, rr2 sources
  17. 1866
    Sovereign debtrr1 source
  18. 1867
    Sovereign debtrr1 source
  19. 1868
    Sovereign debtrr1 source
  20. 1869
    Sovereign debtrr1 source
  21. 1870
    Sovereign debtrr1 source
  22. 1871
    Sovereign debtrr1 source
  23. 1872
    Sovereign debtrr1 source
  24. 1873
    Sovereign debtrr1 source
  25. 1874
    Sovereign debtrr1 source
  26. 1875
    Sovereign debtrr1 source
  27. 1876
    Sovereign debtrr1 source
  28. 1877
    Sovereign debtrr1 source
  29. 1878
    Sovereign debtrr1 source
  30. 1879
    Sovereign debtrr1 source
  31. 1880
    Sovereign debtrr1 source
  32. 1881
    Sovereign debtrr1 source

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020, 2026) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Laeven-Valencia banking-crisis detail

Laeven-Valencia reports fiscal cost and output loss for systemic banking crises only. This episode involves sovereign debt crises, for which no comparable cost figures exist in the source chronologies.

Macro context, 18411888

Seven years either side of the episode. Each panel has its own scale; the crisis window is shaded. Only indicators with data for Venezuela in this window are shown. Bank credit growth (year over year in total loans) is available for the 18 Jordà-Schularick-Taylor advanced economies.

Inflation (% y/y)
-2002040184118481888
Real GDP growth (% y/y)
-40-2002040184118481888

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 (credit) Real GDP growth is derived as the year-over-year change in real GDP; current account and government debt are percent of GDP; policy rate is the central-bank rate; bank credit growth is the year-over-year change in JST total loans. Methodology

How each source dates this episode

The chronologies disagree on start years and durations. This table is generated from the event rows, not curated: it lists, per crisis type, which source flags which years inside the window.

Sovereign debt
  • Global Macro Database1848, 1865
  • Reinhart-Rogoff1848, 1849, 1850, 1851, 1852, 1853, 1854, 1855, 1856, 1857, 1858, 1859, 1860, 1861, 1862, 1865, 1866, 1867, 1868, 1869, 1870, 1871, 1872, 1873, 1874, 1875, 1876, 1877, 1878, 1879, 1880, 1881

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020, 2026) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Policy-response case studies (external)

For qualitative accounts of how authorities intervened in systemic crises, see the Yale Program on Financial Stability New Bagehot Project, a library of financial-crisis intervention case studies. It is a separate qualitative resource; no specific case is asserted to match this episode.