{"product_id":"canada-and-the-gold-standard-balance-of-payments-adjustment-under-fixed-exchange-rates-1871-1913-hardback-9780521404082","title":"Canada and the Gold Standard; Balance of Payments Adjustment under Fixed Exchange Rates, 1871–1913 (Hardback) 9780521404082","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eCanada and the Gold Standard\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eBalance of Payments Adjustment under Fixed Exchange Rates, 1871–1913\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cem\u003eThis interpretation of the Canadian experience extends the monetary approach to balance-of-payments adjustment that realizes the full implications of international capital mobility.\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eTrevor J. O. Dick (Author), John E. Floyd (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780521404082, Cambridge University Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 24 April 1992\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e254 pages\u003cbr\u003e23.6 x 15.8 x 1.9 cm, 0.475 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e\"...consitiutes an important and provocative analysis of the Canadian adjustment process under the gold standard.\"   Georg Rich, Journal of Economic History\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eIn 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.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eList of tables and figures\u003cbr\u003e Preface\u003cbr\u003e 1. Introduction\u003cbr\u003e 2. The standard neoclassical specie-flow mechanism\u003cbr\u003e 3. A new view of gold standard adjustment\u003cbr\u003e 4. An empirical overview\u003cbr\u003e 5. Statistical tests of goods and asset market adjustments\u003cbr\u003e 6. Evidence on the process of balance-of-payments adjustment\u003cbr\u003e 7. Some further evidence on structure and timing\u003cbr\u003e 8. 'Canada's balance': Viner and his critics\u003cbr\u003e 9. The theoretical implications of capital mobility\u003cbr\u003e 10. 'Canada's balance of indebtedness': reinterpretating the historical evidence\u003cbr\u003e 11. Conclusions. How the gold standard worked\u003cbr\u003e Appendices\u003cbr\u003e References\u003cbr\u003e Index.\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Economic history [\u003ca title=\"See our other books on Economic history\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Economic%20history%20%5BKCZ%5D%22\"\u003eKCZ\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":46007239672088,"sku":"9780521404082","price":71.58,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/products\/9780521404082i_f25d249c-2438-430e-97fc-e0baf32d0d1e.jpg?v=1691381186","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/canada-and-the-gold-standard-balance-of-payments-adjustment-under-fixed-exchange-rates-1871-1913-hardback-9780521404082","provider":"Freshly Printed Books","version":"1.0","type":"link"}