Scandinavian Monetary Integration During the 19th Century: A Study of the Establishment of the Scandinavian Currency Union,1865-1875
AbstractDuring the years 1873-1875, Norway, Denmark and Sweden reformed their monetary systems. They adopted a common currency, the Scandinavian Krona, based on gold. The German conversion to the gold standard in 1871 had acted as a catalyst for monetary change, and it sparked intense activity in Scandinavia. This paper demonstrates that the role of Scandinavianism in this reform movement has been exaggerated in the literature. Rather, the establishment of the Scandinavian Currency Union was based on economic arguments and primarily motivated by a fear of silver depreciation. The SCU was a case where Scandinavianism was used as a political means to pursue the economic end of a monetary union.
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Bibliographic InfoPaper provided by Stockholm School of Economics in its series Working Paper Series in Economics and Finance with number 606.
Length: 55 pages
Date of creation: 10 Jun 2004
Date of revision:
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Postal: The Economic Research Institute, Stockholm School of Economics, P.O. Box 6501, 113 83 Stockholm, Sweden
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More information through EDIRC
Scandinavian Currency Union; Monetary Integration; Integration; Financial History; Economic History;
Find related papers by JEL classification:
- F31 - International Economics - - International Finance - - - Foreign Exchange
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
- F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
- N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913
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