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Latin Monetary Union and Balkan Monetary Systems, 1865-1912/1914


  • Nikolay Nenovsky

    () (University of National and World Economy, Sofia, Bulgaria)

  • Souleymane Ndao

    () (University of Picardie Jules Verne, Amiens, France)

  • Jacques Marie Vaslin

    () (University of Picardie Jules Verne, Amiens, France)


The study presents the Latin Monetary Union (1865-1927) and its influence on Balkan monetary systems. The reason for writing the study is the publication of the book of the French economist Lucien Gillard “L’Union Latine, une experience de souverainetes monetaires partagees (1865-1927)”, Classiques Garnier, Paris, 2017. The article puts forward the hypothesis of the contradiction of the economic structure of the periphery with the monetary regime of the European core. The role of the agio, its relation to public finances, interest rates, as well as the putting into circulation of gold backed banknotes are discussed.

Suggested Citation

  • Nikolay Nenovsky & Souleymane Ndao & Jacques Marie Vaslin, 2017. "Latin Monetary Union and Balkan Monetary Systems, 1865-1912/1914," Nauchni trudove, University of National and World Economy, Sofia, Bulgaria, issue 2, pages 265-295, October.
  • Handle: RePEc:nwe:natrud:y:2017:i:2:p:265-295

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    European Monetary Integration; Latin Monetary Union; monetary regimes; Balkans countries; convergence; interest rates; monetary sector;

    JEL classification:

    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-


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