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Using currency iconography to measure institutional quality

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  • Lawson, Kerianne

Abstract

The images on a country’s currency are purposefully chosen by the people or government to be representative of that country. Potentially, one could learn a lot about the economic and political climate of a country by simply looking at the pictures on its money. This paper reports indexes measuring the political, religious, and cultural/scientific content as well as the representation of women on currency notes. The analysis suggests that we can look to the iconography in currency as an indication of the quality of the institutions or socio-economic outcomes in that country.

Suggested Citation

  • Lawson, Kerianne, 2019. "Using currency iconography to measure institutional quality," The Quarterly Review of Economics and Finance, Elsevier, vol. 72(C), pages 73-79.
    • Handle: RePEc:eee:quaeco:v:72:y:2019:i:c:p:73-79
    DOI: 10.1016/j.qref.2018.10.006
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    References listed on IDEAS

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    1. Alberto Chong & Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 2014. "Letter Grading Government Efficiency," Journal of the European Economic Association, European Economic Association, vol. 12(2), pages 277-299, April.
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    Cited by:

    1. Kerianne Lawson, 2022. "Currency iconography and entrepreneurship," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 12(1), pages 257-264, December.
    2. Alexander Cardazzi & Robert A. Lawson, 2023. "Economic freedom and one‐way truck rental prices: An empirical note," American Journal of Economics and Sociology, Wiley Blackwell, vol. 82(4), pages 313-318, July.

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    More about this item

    Keywords

    Currency; Iconography; Economic freedom; Political freedom; Gender;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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