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

  • Kuroda, Akinobu
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    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.

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    File URL: http://journals.cambridge.org/abstract_S0968565007000376
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    Article provided by Cambridge University Press in its journal Financial History Review.

    Volume (Year): 14 (2007)
    Issue (Month): 01 (April)
    Pages: 89-110

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    Handle: RePEc:cup:fihrev:v:14:y:2007:i:01:p:89-110_00
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