The Supply of Gold Under the Pre-1914 Gold Standard

Barry Eichengreen and Ian McLean

No 1991-03, School of Economics and Public Policy Working Papers from University of Adelaide, School of Economics and Public Policy

Abstract: In this paper we attempt to relate the discussion of the discovery and production of gold which appears in the literature on international monetary economics to that found in writings on economic development in the regions of recent settlement. An examination of both national and regional evidence, with emphasis on U.S. experience in the late nineteenth century, suggests that the influence of real gold prices on production is not dominant, and that other economic conditions (such as prior levels of settlement) cannot be ignored.

Keywords: monetarism; economic development; prices; production (search for similar items in EconPapers)
Pages: 38 pages
Date: 1991
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Citations: View citations in EconPapers (7)

Published in The Economic History Review, 1994, vol. 47, issue 2, pp. 288-309

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