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The Supply of Gold Under the Pre-1914 Gold Standard

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Author Info

  • Barry Eichengreen

    (University of California, Berkeley)

  • Ian W. McLean

    ()
    (Department of Economics, University of Adelaide)

Abstract

In this paper we attempt to relate the discussion of the discovery and production of gold which appears in the literature on international monetary economics to that found in writings on economic development in the regions of recent settlement. An examination of both national and regional evidence, with emphasis on U.S. experience in the late nineteenth century, suggests that the influence of real gold prices on production is not dominant, and that other economic conditions (such as prior levels of settlement) cannot be ignored.

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File URL: http://www.economics.adelaide.edu.au/research/papers/doc/wp1991-03.pdf
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Bibliographic Info

Paper provided by University of Adelaide, School of Economics in its series School of Economics Working Papers with number 1991-03.

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Length: 38 pages
Date of creation: 1991
Date of revision:
Publication status: Published in The Economic History Review, 1994, vol. 47, issue 2, pp. 288-309
Handle: RePEc:adl:wpaper:1991-03

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Postal: Adelaide SA 5005
Phone: (618) 8303 5540
Web page: http://www.economics.adelaide.edu.au/
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Related research

Keywords: monetarism; economic development; prices; production;

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Cited by:
  1. Kris James Mitchener & Ian W. McLean, 2001. "The Productivity of U.S. States Since 1880," School of Economics Working Papers, University of Adelaide, School of Economics 2001-08, University of Adelaide, School of Economics.
  2. Ian W. McLean, 2005. "Recovery from Depression: Australia in an Argentine Mirror: 1895- 1913," Economic History, EconWPA 0512001, EconWPA.
  3. Selvanathan, Saroja & Selvanathan, E. A., 1999. "The effect of the price of gold on its production: a time-series analysis," Resources Policy, Elsevier, Elsevier, vol. 25(4), pages 265-275, December.

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