POLI 354 Chapter : Lawren Broz - Political Economcy of the Commitment to the Gold Standard
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18 Feb 2012
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Lawrence broz, the political economy of commitment to the gold standard : introduction. Gold standard: a rule-based monetary regime that stabilized exchange rates and lent credibility and predictability to governments macroeconomic policies (3) Appeared in the formation of the first integrated world economy (1800-1914) Developing states never managed to adapt yet benefits were biggest for them. Some states adopted this policy only when it was favorable to do so. The relationship between political instability and adherence to gold. The effects of democracy s extent on gold standard performance. **take a look at the tables at the end of the essay*: the rise of the gold standard. Britain was one of few countries to have used the gold standard prior to 1870. 1850s: australia, canada also join the standard. Portugal briefly joins in 1854 but moves to paper (fiat) standard in 1891. By the 1880s, most developed atlantic economies were on gold (6)
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