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Scandinavian Monetary Integration During the 19th Century: A Study of the Establishment of the Scandinavian Currency Union,1865-1875

Author

Listed:
  • Talia, Krim

    (Dept. of Economics, Stockholm School of Economics)

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.

Suggested Citation

  • Talia, Krim, 2004. "Scandinavian Monetary Integration During the 19th Century: A Study of the Establishment of the Scandinavian Currency Union,1865-1875," SSE/EFI Working Paper Series in Economics and Finance 606, Stockholm School of Economics.
    • Handle: RePEc:hhs:hastef:0606
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    Cited by:

    1. Ola Grytten & Arngrim Hunnes, 2009. "Price stability and inflation persistence during the international gold standard: The Scandinavian case," Working Paper 2009/20, Norges Bank.

    More about this item

    Keywords

    Scandinavian Currency Union; Monetary Integration; Integration; Financial History; Economic History;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913

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