State, Bank and Agricultural Credit in Sinaloa and Sonora: The Banco de Sinaloa and Banco Agrí­cola Sonorense, 1933-1976

Abstract

In the Northwest of México the increase in the agricultural productivity in the years between 1940 and 1970, was due to the expansion of the farming lands, the use of improved seeds and fertilizer, mechanization, the greater availability of credit, the irrigation system and road improvement. The important intervention from the Mexican state to implement policies of investment with the support of internationally development agencies, and grant credit facilities for the development of agriculture trough the creation of official agricultural banks and the facilities to the constitution of private commercial banks. After the disarticulation of the bank in México due to the revolution, is advanced with steady steps in restructuring the banking system with the creation of a new banking law, the foundation of Banco de México and the Comision Nacional Bancaria in 1924; Banco Nacional de Credito Agricola (1926), the Banco Nacional de Credito Ejidal (1935), Banco Nacional de Comercio Exterior (1937) and the Banco Nacional Agropecuario (1965), which gave financial support to small farmers and ejidatarios (members of a cooperative). The main farmers of Sinaloa and Sonora in collaboration with the federal government through the Comision Monetaria and the Banco de México founded the Banco de Sinaloa and Banco Agricola Sonorense in 1933. Explain the impact these financial institutions had in the agricultural credit of Sinaloa and Sonora will be the central objective of this work.