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Cambridge Journal of Regions, Economy and Society Advance Access originally published online on May 12, 2009
Cambridge Journal of Regions, Economy and Society 2009 2(2):149-171; doi:10.1093/cjres/rsp009
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© The Author 2009. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved. For permissions, please email: journals.permissions@oxfordjournals.org

This article appears in the following Cambridge Journal of Regions, Economy and Society issue: Spatial Circuits of Global Finance [View the issue table of contents]

Monetary geography before the Industrial Revolution

Marc Flandreaua,b, Christophe Galimardc, Clemens Jobstd and Pilar Nogués-Marcoe

a Graduate Institute of International and Development Studies, PO Box 136, 1211 Geneva 21, Switzerland
b CEPR, 53-56 Great Sutton Street, London EC1V 0DG, UK, marc.flandreau{at}graduateinstitute.ch
c BNPParibas, Christophe Galimard: 5-7 rue Saint Fiacre 75002 Paris, France, christophe.galimard{at}bnpparibas.com
d Oesterreichische Nationalbank, PO Box 61 1011 Vienna, Austria, clemens.jobst{at}oenb.at
e Sciences Po, 224 Boulevard Saint-Germain, 75007 Paris, France, mariadelpilar.noguesmarco{at}sciences-po.org


  Abstract

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 centres having already emerged as vehicles for international settlements, before the Industrial Revolution.

Keywords: international monetary system, networks, agglomeration, multilateralism

Received on October 22, 2008. Accepted on February 16, 2009.

JEL Classifications: F33, F36, N10, N23


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