SSE/EFI Working Paper Series in Economics and Finance
Scandinavian Monetary Integration During the 19th Century: A Study of the Establishment of the Scandinavian Currency Union,1865-1875.
Abstract: During the years 1873-1875, Norway, Denmark and Sweden
reformed their monetary systems. They adopted a common currency, the
Scandinavian Krona, based on gold. The German conversion to the gold
standard in 1871 had acted as a catalyst for monetary change, and it
sparked intense activity in Scandinavia. This paper demonstrates that the
role of Scandinavianism in this reform movement has been exaggerated in the
literature. Rather, the establishment of the Scandinavian Currency Union
was based on economic arguments and primarily motivated by a fear of silver
depreciation. The SCU was a case where Scandinavianism was used as a
political means to pursue the economic end of a monetary union.
Keywords: Scandinavian Currency Union; Monetary Integration; Integration; Financial History; Economic History; (follow links to similar papers)
JEL-Codes: F31; F33; F36; N23; (follow links to similar papers)
55 pages, June 10, 2004
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