Flandreau, Marc - C.E.P.R. Discussion Papers - 1995
the classical gold standard. The international gold-based fixed exchange rate regime that surfaced during the 1870s has … standard. Our conclusion is twofold. First, we argue that the making of the gold standard was very much the result of path …-dependency and coordination problems. Second, we claim that the very process through which the gold standard was adopted played a …