作者：University of Glasgow
摘要：This article links the terms of trade, money supply, labor market, and money and credit markets to explore a puzzle in Malayan economic history: why, despite rapid growth and high per capita income, did pre-World War 11 Malaya industrialize so little? A range of data is drawn together to show how for Malayan manufacturers economic boom was accompanied by precipitate deterioration in the real exchange rate, while in a slump credit contracted sharply and with it the size of the Malayan market fo...
作者：Lafayette College; National Bureau of Economic Research
摘要：In the early nineteenth century, the Suffolk Bank established a regional banknote clearing network. Despite the benefits offered, many of the system's member banks were unhappy with it and quickly affiliated with an alternative clearing network as soon as it appeared. The reason for the quick abandonment of the Suffolk system was that it failed to price its network clearing services efficiently. Pressured by large Boston banks to shift the costs of the system to small country banks, the Suffol...
作者：University of London; London School Economics & Political Science
作者：Universite de Lille; Centre for Economic Policy Research - UK; University of Munich
