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    NTHUR > College of Technology Management  > Department of Economics  > ECON Journal / Magazine Articles >  The Chinese silver standard economy and the 1929 Great Depression

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    Title: The Chinese silver standard economy and the 1929 Great Depression
    Authors: Lai, Cheng-chung;Gau, Joshua Jr-Shiang
    Teacher: 賴建誠
    Date: 2003
    Publisher: Wiley-Blackwell
    Relation: Australian Economic History Review,Wiley-Blackwell,Volume 43,Issue 2,July 2003,Pages 155-168
    Keywords: silver standard
    Chinese economy (1929-35)
    the 1929 Great Depression
    Abstract: It is often said that the silver standard had insulated the Chinese economy from the Great
    Depression that prevailed in the gold standard countries during the 1929-35 period. Using econometric testing and counterfactual simulations, we show that if China had been on the gold standard (or on the gold-exchange standard), the balance of trade of this semi-closed economy would have been ameliorated, but the general price level would have declined significantly. Due to limited statistics, two important factors (the GDP and industrial production level) are not included in the analysis, but the general argument that the silver standard was a lifeboat to the Chinese economy remains defensible.
    Appears in Collections:[Department of Economics ] ECON Journal / Magazine Articles

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