Public perceptions and bond markets during the Great War: the case of a neutral country

Christoph Schaltegger and Lukas A. Schmid ()
Additional contact information
Lukas A. Schmid: University of Lucerne

Public Choice, 2021, vol. 186, issue 3, No 18, 537-561

Abstract: Abstract Neutrality during World War I was not assured but depended on the ability of a neutral state to adjust to the major belligerent powers’ interests. How did Switzerland manage to adhere to its neutrality policy under those circumstances? This paper analyzes contemporary perceptions of neutrality by means of a structural break analysis. According to historiography Switzerland was endangered from within rather than by foreign actions. The analysis based on a newly assembled database supports this assessment in parts. In the bondholders’ view, Switzerland’s neutrality was most threatened by the events leading up to the general strike in November 1918.

Keywords: Great War; Neutrality; Switzerland; Sovereign bond market; Public perception (search for similar items in EconPapers)
JEL-codes: N24 N44 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s11127-019-00709-0 Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
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:kap:pubcho:v:186:y:2021:i:3:d:10.1007_s11127-019-00709-0

Ordering information: This journal article can be ordered from
http://www.springer. ... ce/journal/11127/PS2

DOI: 10.1007/s11127-019-00709-0

Access Statistics for this article

Public Choice is currently edited by WIlliam F. Shughart II

More articles in Public Choice from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().