Democratic Constraints and Adherence to the Classical Gold Standard

Bert S. Kramer and Petros Milionis

No GD-175, GGDC Research Memorandum from Groningen Growth and Development Centre, University of Groningen

Abstract: We study how domestic politics affected the decisions of countries to adhere to the classical gold standard. Using a variety of econometric techniques and controlling for a wide range of economic factors, we demonstrate that political constraints were important in the decision of countries to adopt the gold standard as well as in the decision to suspend it. Specifically we find that the probability of adherence to the gold standard was ceteris paribus lower for countries in which domestic politics were organized in a more open and democratic fashion. This effect appears to be driven largely by the extent of domestic political competition and was particularly relevant for peripheral countries.

Date: 2018
New Economics Papers: this item is included in nep-his, nep-mon and nep-pol
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/11370/49a6dbdb-5412-4ec9-b1e2-17f7153c1d1e (application/pdf)
Our link check indicates that this URL is bad, the error code is: 403 Forbidden (http://hdl.handle.net/11370/49a6dbdb-5412-4ec9-b1e2-17f7153c1d1e [302 Found]--> https://research.rug.nl/en/publications/49a6dbdb-5412-4ec9-b1e2-17f7153c1d1e [301 Moved Permanently]--> https://research.rug.nl/en/publications/democratic-constraints-and-adherence-to-the-classical-gold-standa)

Related works:
Journal Article: Democratic constraints and adherence to the classical gold standard (2022)
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:gro:rugggd:gd-175

Access Statistics for this paper

More papers in GGDC Research Memorandum from Groningen Growth and Development Centre, University of Groningen Contact information at EDIRC.
Bibliographic data for series maintained by Hanneke Tamling ().