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How Global Geo-Politics Shaped South Africa's Post-World War I Monetary Policy: The Case Of Gerhard Vissering And Edwin Kemmerer In South Africa, 1924-25

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  • Vishnu Padayachee
  • Bradley Bordiss

Abstract

The purpose of this paper is to highlight using international archives, the extent to which America's attempts to anchor its increasingly dominant global economic power and specifically the struggle between London and New York as the centre of global finance, impacted on the nature and character of the monetary policy advice given by these two international experts, as evident in their work on the Kemmerer-Vissering Commission. We show that Kemmerer, a representative of the rising new global economic powerhouse, the United States of America, and Vissering, a representative of a far less significant global player, the Netherlands, also with somewhat closer historical ties to Britain, were in fact instruments of these global dynamics, as they went about their work on the Commission. This global aspect of the narrative of the Kemmerer-Vissering report has not been highlighted by previous research.

Suggested Citation

  • Vishnu Padayachee & Bradley Bordiss, 2015. "How Global Geo-Politics Shaped South Africa's Post-World War I Monetary Policy: The Case Of Gerhard Vissering And Edwin Kemmerer In South Africa, 1924-25," Economic History of Developing Regions, Taylor & Francis Journals, vol. 30(2), pages 182-209, December.
  • Handle: RePEc:taf:rehdxx:v:30:y:2015:i:2:p:182-209
    DOI: 10.1080/20780389.2015.1051027
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    1. Eichengreen, Barry, 1996. "Golden Fetters: The Gold Standard and the Great Depression, 1919-1939," OUP Catalogue, Oxford University Press, number 9780195101133.
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    Cited by:

    1. Christie Swanepoel & Philip T. Fliers, 2021. "The fuel of unparalleled recovery: Monetary policy in South Africa between 1925 and 1936," Economic History of Developing Regions, Taylor & Francis Journals, vol. 36(2), pages 213-244, May.
    2. Flores Zendejas, Juan & Lopez Soto, David & Sanchez Amador, David, 2020. "New paradigms and old promises: central banks and the market for sovereign debt in the interwar period," Working Papers unige:129346, University of Geneva, Paul Bairoch Institute of Economic History.

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