The Chinese silver standard economy and the 1929 Great Depression
Bibliographic Data
| ID | 20437476 |
|---|---|
| Authors | Cheng‐chung Lai (National Tsing Hua University), Joshua Jr‐Shiang Gau, Joshua Jr-shiang Gau (Bureau of Energy) |
| Year | 2003 |
| Volume | 43 |
| Issue | 2 |
| Pages | 155-168 |
| Publication date | 2003-07-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Australian Economic History Review (JOURNAL) |
| Journal identifiers | ISSN: 0004-8992 • E-ISSN: 1467-8446 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/1467-8446.t01-1-00048 |
| OpenAlex | W1998751638 |
| Language | EN |
| Citations received | 3 |
| References cited | 7 |
It is often argued that the silver standard insulated the Chinese economy from the Great Depression that prevailed in the gold standard countries during the period 1929–1935. Using econometric testing and counterfactual simulations, this article shows that if China had been on the gold standard (or on the gold‐exchange standard), the balance of trade of this semiclosed economy would have been ameliorated, but the general price level would have declined significantly. Due to limited statistics, two important variables (GDP and industrial production) are not included in the analysis, but the general argument that the silver standard was a lifeboat to the Chinese economy remains defensible
Argument (complex analysis) · Balance of trade · China · Chinese economy · Counterfactual thinking · Depression (economics) · Economics · Economy · Gold standard (test) · Great Depression · Industrial production · Macroeconomics · Standard deviation · Statistics · Culture, Economy, and Development Studies · Historical Economic and Social Studies · Mathematics · Psychology
| Unique citing works | 3 |
|---|---|
| Citations per year | 0,16 |
| Citation span | 2007 - 2013 (7) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 3 |