The Anatomy of an International Monetary Regime : The Classical Gold Standard, 1880-1914.
Giulio M. Gallarotti
Bok Engelsk 1995 · Electronic books.
| Utgitt | New York : Oxford University Press , 1995
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| Omfang | 1 online resource (360 pages)
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| Opplysninger | Intro -- Contents -- 1 Introduction -- The Organization of This Book -- 2 The Classical Gold Standard as an International Monetary Regime -- General Overview of the Gold Standard -- The Component Parts: The Institutional Character of the Gold Standard -- Liquidity and Reserves -- Adjustment -- Exchange Rates -- Capital Controls -- Confidence -- Institutional Synthesis of the Gold Standard -- 3 Cooperation under the Gold Standard -- Cooperation among National Governments under the Gold Standard -- The Conference of 1867 -- The Conference of 1878 -- The Conference of 1881 -- The Conference of 1892 -- Central Bank Cooperation under the Gold Standard -- 4 British Hegemony under the Gold Standard -- The Goals of the British State -- The Principal-Agent Link: The Bank of England as an Agent of British Hegemony -- Great Britain and the International Monetary Conferences of 1867, '78, '81, '92 -- 5 Hegemony and the Bank of England -- Indirect Hegemony: The Bank of England and Central Banking in Great Britain -- Acknowledging Public Responsibility -- Managing the British Monetary System -- Direct Hegemony: The Bank of England as an International Central Bank -- Acknowledging Public Responsibility -- International Reserve Management and Lender of Last Resort -- Managing the International Monetary System -- Managing International Crises -- 6 The Origin of the Gold Standard -- The Structural Foundations of the Gold Standard -- The Ideology of Gold -- Industrialization and Economic Development -- The Politics of Gold -- The Proximate Foundations of the Gold Standard: Chain Gangs and Regime Transformation -- The 1860s: A Decade of Growing Nervousness -- The Monetary Chain Gang -- The 1870s -- The Permissive Foundations of the Gold Standard -- 7 The Stability of the Gold Standard -- Tier 1: The Proximate Foundations of Adjustment.. - The Stable Supersystem of International Politics -- The Stable Supersystem of International Economics -- The Gold Standard and Core Nations -- Synchronous Macroeconomies -- Stabilizing Expectations -- Tier 2: The Normative Foundations of Adjustment -- 8 The Gold Standard and Regime Theory -- Hegemonic Regimes -- Cooperative Regimes -- Diffuse Regimes -- Statistical Appendix -- Data -- Discount Rates of Central Banks -- World Price Indices -- British Series -- Estimation Techniques -- Equations -- Granger Causality Tests -- Central Bank Discount Rates -- World Price Indices and British Series -- Bank of England Discount Rate and British Series -- Bank of England Reserves and British Series -- Figures A.1-A.8 -- Notes -- References -- Index -- A -- B -- C -- D -- E -- F -- G -- H -- I -- J -- K -- L -- M -- N -- O -- P -- R -- S -- T -- U -- V -- W -- Y -- Z.. - Widely considered the crowning achievement in the history of international monetary relations, the classical gold standard (1880-1914) has long been treated like a holy relic. Its veneration, however, has done more to obscure than to reveal the actual nature of the era's monetary system. In The Anatomy of an International Monetary Regime, Giulio M. Gallarotti addresses the nature of the classical gold standard in its international context, offering the first comprehensive and systematic treatment of the subject. Three fundamental questions are essential to the discussion: How did the regime originate? How did it work? Why did it persist? Gallarotti uses an interdisciplinary approach that draws upon politics, economics, and ideology to explain the answers. He challenges traditional assumptions about the period, arguing that cooperation among nations or central banks was not a principal factor in either the origin or stability of the system, and that neither the British state nor the Bank of England were the leaders or managers of the gold standard. Rather, a decentralized process involving the status of gold, industrialization and economic development, the politics of gold, and liberal economic ideology provided converging incentives for starting and maintaining the system. Gallarotti's study presents the most comprehensive and interdisciplinary examination available of the nature of monetary relations in the four decades before World War I. His important, revisionist view will alter the way we think about a crucial period in the growth of the international monetary system. It will be essential reading for scholars and students of economic history and policy.
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| ISBN | 0195089901
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