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Macro Policies 2: Monetary and Financial Prudence, Minimal Public Debt

In: Institutions Always “Mattered”

Author

Listed:
  • Oleh Havrylyshyn
  • Nora Srzentić

Abstract

Similar to fiscal policy, the historical literature gives a very positive assessment of monetary and currency policy with minimal metallic debasement. Noting consequently low inflation, together with the fiscal prudence discussed in the previous chapter, such credible monetary policy and stable currency, plus sufficient credit availability to fuel commerce, provided in Mediaeval Ragusa the now-traditional pillars of trade expansion and economic development.

Suggested Citation

  • Oleh Havrylyshyn & Nora Srzentić, 2015. "Macro Policies 2: Monetary and Financial Prudence, Minimal Public Debt," Palgrave Studies in Economic History, in: Institutions Always “Mattered”, chapter 9, pages 122-132, Palgrave Macmillan.
    • Handle: RePEc:pal:palscp:978-1-137-33978-2_9
    DOI: 10.1057/9781137339782_9
    as

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