Gold and South Africa's Great Depression. Issue 2 (4th May 2021)

• Record Type: Journal Article
• Authors: Eichengreen, Barry
• Is Part Of: Economic history of developing regions. Volume 36:Issue 2(2021)
• Page Start: 175
• Page End: 193
• Publication Date: 2021-05-04
• Subjects: Gold -- South Africa -- Great Depression; Developing countries -- Economic conditions -- Periodicals; Africa, Southern -- Economic conditions -- Periodicals; Economic history -- Periodicals; Economic history; Africa, Southern; Periodicals; Electronic journals; 330.091724
• DOI: 10.1080/20780389.2021.1891879
• Languages: English
• ISSNs: 2078-0389

Abstract

ABSTRACT: In this paper I seek to understand the roots of South African macroeconomic outperformance since 1929 and whether it can be reconciled with what I have described as conventional wisdom about recovery from the Depression. Unsurprisingly, I find a way of fitting South Africa into that story. In addition, I try to understand better why, if going off the gold standard was so beneficial, indeed even more beneficial for South Africa than for other countries, it was so strongly resisted.