Skip to content
Register Sign in Wishlist
Look Inside Canada and the Gold Standard

Canada and the Gold Standard
Balance of Payments Adjustment under Fixed Exchange Rates, 1871–1913

Part of Studies in Macroeconomic History

  • Date Published: December 2004
  • availability: Available
  • format: Paperback
  • isbn: 9780521617062

Paperback

Add to wishlist

Other available formats:
Hardback


Looking for an inspection copy?

This title is not currently available on inspection

Description
Product filter button
Description
Contents
Resources
Courses
About the Authors
  • In this re-examination of Canada's balance-of-payments experience under the gold standard, the authors develop and empirically test a new portfolio approach to the mechanism of balance-of-payments adjustment. This adjustment mechanism responded to massive inflows of foreign capital during a critical period of Canada's economic growth in the early years of the twentieth century. The authors show that the existence of international mobility of capital requires a fundamental revision of the price-specie-flow theory that has traditionally been used to explain adjustment when the balance of payments was more nearly dominated by the balance of trade. The approach taken by Professors Dick and Floyd not only answers the critics of Jacob Viner, who first explored the Canadian case after 1900, but also offers a new perspective on how the gold standard in general actually worked. This interpretation of the Canadian experience is an extension of the monetary approach to balance-of-payments adjustment that realizes the full implications of international capital mobility.

    Customer reviews

    Not yet reviewed

    Be the first to review

    Review was not posted due to profanity

    ×

    , create a review

    (If you're not , sign out)

    Please enter the right captcha value
    Please enter a star rating.
    Your review must be a minimum of 12 words.

    How do you rate this item?

    ×

    Product details

    • Date Published: December 2004
    • format: Paperback
    • isbn: 9780521617062
    • length: 256 pages
    • dimensions: 228 x 151 x 17 mm
    • weight: 0.39kg
    • availability: Available
  • Table of Contents

    List of tables and figures
    Preface
    1. Introduction
    2. The standard neoclassical specie-flow mechanism
    3. A new view of gold standard adjustment
    4. An empirical overview
    5. Statistical tests of goods and asset market adjustments
    6. Evidence on the process of balance-of-payments adjustment
    7. Some further evidence on structure and timing
    8. 'Canada's balance': Viner and his critics
    9. The theoretical implications of capital mobility
    10. 'Canada's balance of indebtedness': reinterpretating the historical evidence
    11. Conclusions. How the gold standard worked
    Appendices
    References
    Index.

  • Authors

    Trevor J. O. Dick, University of Lethbridge, Alberta

    John E. Floyd, University of Toronto

Related Books

Sorry, this resource is locked

Please register or sign in to request access. If you are having problems accessing these resources please email lecturers@cambridge.org

Register Sign in
Please note that this file is password protected. You will be asked to input your password on the next screen.

» Proceed

You are now leaving the Cambridge University Press website. Your eBook purchase and download will be completed by our partner www.ebooks.com. Please see the permission section of the www.ebooks.com catalogue page for details of the print & copy limits on our eBooks.

Continue ×

Continue ×

Continue ×
warning icon

Turn stock notifications on?

You must be signed in to your Cambridge account to turn product stock notifications on or off.

Sign in Create a Cambridge account arrow icon
×

Find content that relates to you

Join us online

This site uses cookies to improve your experience. Read more Close

Are you sure you want to delete your account?

This cannot be undone.

Cancel

Thank you for your feedback which will help us improve our service.

If you requested a response, we will make sure to get back to you shortly.

×
Please fill in the required fields in your feedback submission.
×