Discussion paper

DP7169 Monetary Geography Before the Industrial Revolution

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.


Flandreau, M, C Jobst, P Nogues-Marco and C Galimard (2009), ‘DP7169 Monetary Geography Before the Industrial Revolution‘, CEPR Discussion Paper No. 7169. CEPR Press, Paris & London. https://cepr.org/publications/dp7169