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Монетарная система Португальско-Бразильской империи: меняющаяся роль «провинциальной» денежной системы в XVII и XVIII веках // The Monetary System of the Luso-Brazilian Empire: the Changing Role of the ‘Provincial’ Currency in the 17th and 18th Centuries

Author

Listed:
  • F. Lima C.

    (Institute of Economics of the Federal University of the Rio de Janeiro-UFRJ)

  • R. Sousa M.

    (CSG/GHES/ Lisbon School of Economics and Management-ISEG/UL)

  • Ф. Лима С.

    (Институт экономики Федерального университета Рио-де-Жанейро)

  • Р. Де Соуса М.

    (Лиссабонская школа экономики и менеджмента)

Abstract

In this research we try to explain the dual character of the monetary system of the Luso-Brazilian Empire brought about by the introduction of a parallel, or complementary, currency in Brazil by the end of the XVII century. The simultaneous circulation of ‘provincial’ and ‘national’ coins can explain why these units of exchange did not act as both store and standard of value. Money had not only a hierarchy character according the value of payments (gold, silver and copper) but also the mint policy varied in the different areas of circulation. This implied that not all these coins were hoarded or obtained the same status on international market. Nevertheless, since the 17th century we have an evolution that we need to recognize and understand. This implied that ‘provincial’ money as a concept had an evolution and other attributes to make this money broadly acceptable as units of exchange. Which are the convergence of mechanisms that explain the emergence and consolidation of a money economy in the Portuguese Empire? We will analyse the monetary relations between Brazil and Portugal and the time span is since the 17th century until the 19th century. В этом исследовании мы попытались выяснить двойной характер монетарной системы Португальско-Бразильской империи, созданной путем введения в обращение параллельной и комплементарной валюты в конце XVII в. Одновременной циркуляцией «провинциальных» и «национальных» монет можно объяснить, почему они не выполняли функции и сокровища, и меры стоимости. Деньги имеют не только иерархическую структуру в зависимости от вида платежей (золото, серебро и медь), поэтому денежная политика различается в разных сферах циркуляции. Следовательно, не все монеты образовывали сокровище или получали такой же статус на международном рынке. Несмотря на это, с XVII в. произошла эволюция, которую мы должны осознать и понять. Это предполагает, что концепция «провинциальных» денег подлежит эволюции и приобретает другие качества, благодаря которым эти деньги беспрепятственно принимаются в качестве средства обмена. Каким был механизм конвергенции, благодаря которому возникла и укрепилась денежная экономика Португальской империи? Мы проанализировали денежные отношения между Бразилией и Португалией в промежутке времени от XVII до XIХ в.

Suggested Citation

  • F. Lima C. & R. Sousa M. & Ф. Лима С. & Р. Де Соуса М., 2017. "Монетарная система Португальско-Бразильской империи: меняющаяся роль «провинциальной» денежной системы в XVII и XVIII веках // The Monetary System of the Luso-Brazilian Empire: the Changing Role of th," Review of Business and Economics Studies // Review of Business and Economics Studies, Финансовый Университет // Financial University, vol. 5(2), pages 68-74.
  • Handle: RePEc:scn:00rbes:y:2017:i:2:p:68-74
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    References listed on IDEAS

    as
    1. Fernando Cerqueira Lima & Rita Martins de Sousa, 2015. "Production, Supply and Circulation of 'National' Gold Coins in Brazil (1720-1807)," Working Papers GHES - Office of Economic and Social History 2015/56, ISEG - Lisbon School of Economics and Management, GHES - Social and Economic History Research Unit, Universidade de Lisboa.
    2. Fantacci, Luca, 2008. "The dual currency system of Renaissance Europe," Financial History Review, Cambridge University Press, vol. 15(1), pages 55-72, April.
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