CANADA AND THE GOLD STANDARD
Dick, Trevor J. O. and John E. Floyd. Canada and the Gold Standard:
Balance of Payments Adjustment under Fixed Exchange Rates, 1870-1913.
New York: Cambridge University Press, 1992.
SOME REVIEWS
- "Dick and Floyd, two respected economists, have written an interesting
and challenging interpretation of how the Canadian economy functioned
under the gold stantard during a period of massive capital inflows
at the start of the century. . . . A must acquisition for any collection
on international capital theory, international economics, or general economic
theory." D. E. Bond, University of British Columbia
- " . . . . the book contains one of the clearest and fullest accounts
of the classical theory and adds a new dimension to the debate about the
gold standard which scholars will have to take seriously." Peter Cain
-
"They make a very persuasive case that the Canadian experience is best
explained by their model." George Borts, Brown University
-
"The scarcity of long time-series of data for empirical study of fixed
exchange rate regimes makes Dick and Floyd's analysis of balance of payments
adjustment in Canada between 1871 and 1913 particularly useful."
Angela Redish, University of British Columbia
- " . . . . this book constitutes an important and provocative analysis
of the Canadian adjustment process under under the gold standard."
Georg Rich, Swiss National Bank
-
"Dick and Floyd persuasively argue that Canada's impressive
performance was greatly assisted by an efficient banking system and
the freedom of movement of capital . . . . [giving] broader lessons to be
learned . . . . [by] many of the transitional economies." Pierre
Siklos, Wilfrid Laurier University
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