Ecuador and its monetary obstinacy: Causes of the prolonged validity of the gold exchange standard

Abstract:

The aim of this study is to establish the reasons that the economic authorities of Ecuador had to remain in the block of the gold standard, despite the fact that South American countries and Great Britain (country that promoted gold standard in Europe and the rest of the world) had abandoned it. This research is based on two processes: heuristic and hermeneutic. Through this study, it is concluded that monetary obstinacy is due to the influence and insistence of the president of the financial experts mission, Edwin Walter Kemmerer; the validity of the gold standard in the United States; the foundations of the own monetary system; and, the "ghosts of the past": the economic and financial interests of private banking.

Año de publicación:

2018

Keywords:

• Monetary regime
• Gold standard
• Deflation

Fuente:

google

scopus