Gold and South Africa’s Great Depression

Barry Eichengreen

Economic History of Developing Regions, 2021, vol. 36, issue 2, 175-193

Abstract: In this paper I seek to understand the roots of South African macroeconomic outperformance since 1929 and whether it can be reconciled with what I have described as conventional wisdom about recovery from the Depression. Unsurprisingly, I find a way of fitting South Africa into that story. In addition, I try to understand better why, if going off the gold standard was so beneficial, indeed even more beneficial for South Africa than for other countries, it was so strongly resisted.

Date: 2021
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DOI: 10.1080/20780389.2021.1891879

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