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The Maria Theresa dollar in the early twentieth-century Red Sea region: a complementary interface between multiple markets

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  • Kuroda, Akinobu

Abstract

El enigma de por qué el dólar Maria Theresa acuñado por Viena continuó en circulación durante más de un siglo y medio en África y Oriente Medio nunca ha sido explicado por completo. Por contra de lo que se cree habitualmente, la popularidad de este dólar de plata no dependió de su contenido intrínseco. El dólar Maria Theresa complementaba otras monedas tan bien que las autoridades de cada país no podían reemplazarla con sus propias divisas. El circuito de esta moneda funcionaba como una interfaz amortiguadora entre los mercados locales, que recogían productos como el café a través de divisas fraccionales, y el mercado internacional, en el que los productos se comerciaban en términos de una divisa estándar como la libra esterlina. El papel complementario del dólar Maria Theresa fue el resultado de un proceso de organización interna por parte de los propios mercados con el objeto de lograr la estabilidad de las transacciones.

Suggested Citation

  • Kuroda, Akinobu, 2007. "The Maria Theresa dollar in the early twentieth-century Red Sea region: a complementary interface between multiple markets," Financial History Review, Cambridge University Press, vol. 14(01), pages 89-110, April.
  • Handle: RePEc:cup:fihrev:v:14:y:2007:i:01:p:89-110_00
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    Cited by:

    1. Leigh A. Gardner, 2014. "The rise and fall of sterling in Liberia, 1847–1943," Economic History Review, Economic History Society, vol. 67(4), pages 1089-1112, November.
    2. Tunçer, Coşkun, 2012. "Monetary sovereignty during the classical gold standard era: the Ottoman Empire and Europe, 1880-1913," Economic History Working Papers 44725, London School of Economics and Political Science, Department of Economic History.
    3. Ali Coskun Tunçer, 2013. "The Black Swan of the Golden Periphery: The Ottoman Empire during the Classical Gold Standard Era," Working Papers 14, Department of Economic and Social History at the University of Cambridge.

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