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The Inventions and Diffusion of Hyperinflatable Currency

Author

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  • Dror Goldberg

    (Department of Economics, Bar Ilan University)

Abstract

Paper money, when discretionally issued by a government, can be a very powerful political and economic tool. Who invented it and who caused its global diffusion? Scholars are quick to claim the precedence of their home countries without justifying their claims or contesting competing claims. I comprehensively examine the monetary and public nature of the candidate moneys and the transmission of information about paper money inventions between countries and across time. I conclude that it was invented independently a few times and its global diffusion began in Canada in 1685.

Suggested Citation

  • Dror Goldberg, 2009. "The Inventions and Diffusion of Hyperinflatable Currency," Working Papers 2009-6, Bar-Ilan University, Department of Economics.
    • Handle: RePEc:biu:wpaper:2009-6
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    More about this item

    Keywords

    government-issued money; card money; paper money;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • N11 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: Pre-1913

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