EconPapers    
Economics at your fingertips  
 

Quels enseignements tirer de la première mondialisation (1870-1914) ?

Violaine Faubert

Economie & Prévision, 2012, vol. n° 200-201, issue 2, 217-226

Abstract: This article analyses the similarities between the first globalisation (1870-1914) and the current one. The first globalisation offers some lessons in economic policy. As regards capital markets, the close integration of the advanced countries in the nineteenth century vividly illustrates the advantages of exchange-rate stability, promoted by the gold standard at the time. The financial crises of the first globalisation also remind us of the stabilising effect of limited current-account deficits and of a debt mostly denominated in domestic currency. As regards goods markets, lessons were drawn from the lack of trade-policy coordination characteristic of the first globalisation. The establishment of international organisations has fostered the gradual opening and coordination of trade policies of countries at different stages of development.

Keywords: globalisation; international trade; gold standard (search for similar items in EconPapers)
Date: 2012
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.cairn.info/load_pdf.php?ID_ARTICLE=ECOP_200_0217 (application/pdf)
http://www.cairn.info/revue-economie-et-prevision-2012-2-page-217.htm (text/html)
free

Related works:
Journal Article: Quels enseignements tirer de la première mondialisation (1870-1914) ? (2012) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cai:ecoldc:ecop_200_0217

Access Statistics for this article

More articles in Economie & Prévision from La Documentation Française
Bibliographic data for series maintained by Jean-Baptiste de Vathaire ().

 
Page updated 2022-01-25
Handle: RePEc:cai:ecoldc:ecop_200_0217