Democratic Constraints and Adherence to the Classical Gold Standard (Dataset)
Principal Investigator(s): View help for Principal Investigator(s) Bert S. Kramer, CPB Netherlands Bureau for Economic Policy Analysis; Petros Milionis, University of Groningen
Version: View help for Version V2
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| ReplicationFiles | 12/07/2021 09:13:AM | ||
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application/pdf | 180 KB | 12/07/2021 03:53:AM |
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application/pdf | 64.9 KB | 12/07/2021 04:08:AM |
Project Citation:
Kramer, Bert S., and Milionis, Petros. Democratic Constraints and Adherence to the Classical Gold Standard (Dataset). Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2021-12-07. https://doi.org/10.3886/E156401V2
Project Description
Summary:
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We study how political institutions affected the decision of countries to adhere to the classical gold standard. Using a variety of econometric techniques and controlling for a wide range of relevant economic and political factors, we find that the probability of adherence to the gold standard before World War I was ceteris paribus lower for countries which were more democratic. This effect can be linked to how open the political process was to different segments of the population and the extent of political competition resulting from that. The effect was particularly relevant for peripheral countries and it influenced both the decision of countries to adopt the gold standard as well as the decision to suspend it.
Scope of Project
Subject Terms:
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First Globalization Era;
Gold Standard;
Democracy;
Political Institutions
Collection Notes:
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JEL Codes: E42, F33, F50, N40.
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