The impact of monetary regimes on trade and capital flows during the first wave of globalization, 1850-1913

Description

In this project we want to investigate the importance of the classical gold standard and other exchange rate regimes for trade and capital flows during the period 1850-1913. It has been argued that the gold standard contributed to increased trade and financial integration between participating countries during the late 19th and early 20th centuries. We investigate this by analyzing a unique database of bilateral and intra-national trade flows, as well as newly produced historical dataset on intergovernmental loans.