DP7169 Monetary Geography Before the Industrial Revolution

Author(s):	Marc Flandreau, Christophe Galimard, Clemens Jobst, Pilar Nogues-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:	cepr.org/active/publications/discussion_papers/dp.php?dpno=7169

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.