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DP7169 Monetary Geography Before the Industrial Revolution

Author(s): Marc Flandreau , Christophe Galimard , Clemens Jobst , Maria Del Pilar Nogués Marco
Publication Date: February 2009
Keyword(s): history , international currency , international monetary system , network analysis
JEL(s): F33 , N23
Programme Areas: International Macroeconomics
Link to this Page: www.cepr.org/pubs/dps/DP7169.asp.asp


In this article, we study Europe's monetary geography on the eve of the Industrial Revolution. Our unit of analysis is the city and we explore inter-city linkages. Important findings include a considerable degree of integration and multilateralism with monetary centers having already emerged as vehicles for international settlements, before the Industrial Revolution.

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