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Flandreau, Marc

Works: 109 works in 439 publications in 2 languages and 4,738 library holdings
Genres: History 
Roles: Author, Editor, Thesis advisor, Interviewee, Contributor
Classifications: HG297, 332.422209
Publication Timeline
Publications about Marc Flandreau
Publications by Marc Flandreau
Most widely held works by Marc Flandreau
The glitter of gold : France, bimetallism, and the emergence of the international gold standard, 1848-1873 by Marc Flandreau( Book )
27 editions published between 1995 and 2007 in English and French and held by 347 libraries worldwide
This work studies the operation of the international monetary system that prevailed before the emergence of the international gold standard. It shows that France's ability to trade gold for silver, and vice versa, effectively pegged the exchange rate between gold and silver at its legal ratio
International financial history in the twentieth century : system and anarchy by Marc Flandreau( Book )
22 editions published between 2003 and 2010 in English and held by 320 libraries worldwide
The essays in this book, written by some of the leading experts in the field and covering over a hundred years of economic history, examine the history of the international financial system in terms of the current debate about globalization and its limits
The making of global finance 1880-1913 by Marc Flandreau( Book )
24 editions published between 2004 and 2009 in English and French and held by 288 libraries worldwide
This study traces the roots of global financial integration in the first "modern" era of globalisation from 1880 to 1913 and can serve as a valuable tool to current-day policy dilemmas by using historical data to see which policies in the past led to enhanced international financing for development. A major conclusion is that the successful management of international financial integration depends primarily on broad institutional and political factors and financial policies, rather than simply opening or closing individual economies to the international winds. "A careful and vigorously argued monograph... an important book that future research in this area will have to take into account." - book review by Hugh Rockoff of Rutgers University
The Gold standard in theory and history by Barry J Eichengreen( Book )
17 editions published between 1985 and 1997 in English and held by 238 libraries worldwide
Annotation Since the successful first edition of The Gold Standard in Theory and Historywas published in 1985, much new research has been completed. This updated version contains five new essays including:* post 1990 literature on exchange rate target zones* a discussion of the light shed by the gold standard on the European Monetary Union debate* a new introduction by Eichengreen with Marc FlandreauThis will be an invaluable resource for students of macroeconomics, international economics and economic history at all levels
Money doctors : the experience of international financial advising, 1850-2000 by Marc Flandreau( Book )
13 editions published between 2003 and 2006 in English and held by 157 libraries worldwide
Can economics help make the world a safer financial place? Are there any trends in money doctoring? What can we learn from case studies? How is consensus about appropriate policies built? These are the main questions that this book seeks to answer. Money Doctors brings together internationally respected specialists from economics, history and political science such as Harold James, Louis Pauly and Kenneth Mour?. First providing a short history of money doctors, the book then goes on to cover such themes as: the IMF and policy advice the Russian experience contemporary money doctors. The book shows that there is still a long way to go before international financial advice develops into something that is truly helpful in the long term. Marc Flandreau has pulled together a stimulating, comprehensive and authoritative book that will be of great interest to students and academics involved in international finance and banking. Perhaps more importantly, the lessons learned from the book will go on to help future money doctors and the recipients of their advice
Core, periphery, exchanges rate regimes and globalization by Michael D Bordo( Book )
19 editions published in 2001 in English and held by 62 libraries worldwide
In this paper we focus on the different historical regime experiences of the core and the periphery. Before 1914 advanced countries adhered to gold while periphery countries either emulated the advanced countries or floated. Some peripheral countries were especially vulnerable to financial crises and debt default in large part because of their extensive external debt obligations denominated in core country currencies. This left them with the difficult choice of floating but restricting external borrowing or devoting considerable resources to maintaining an extra hard peg. Today while advanced countries can successfully float, emergers who are less financially mature and must borrow abroad in terms of advanced country currencies, are afraid to float for the same reason as their nineteenth century forbearers. To obtain access to foreign capital they may need a hard peg to the core country currencies. Thus the key distinction between core and periphery countries both then and now that we emphasize in this paper is financial maturity, evidenced in the ability to issue international securities denominated in domestic currency. Evidence in Section 2 from Feldstein-Horioka tests 1880-1997 agrees with the 'Folk' wisdom that financial integration was as high before 1914 as it is today. But the evidence suggests that it was not the exchange rate regime followed that mattered but the presence of capital controls. Moreover the financial integration observed for the recent period is largely an advanced country phenomenon Section 3 lays out the financial maturity hypothesis, presents narrative evidence for the pre-1914 period of the different experiences of the core and peripheral countries in adhering to the gold standard, and documents that for the emerging countries, plus ca change. Finally, Section 4 presents empirical evidence for core and peripheral countries 1880-1913 and today based on traditional money demand regressions suggesting a strong link between financial depth and the exchange rate regime
Les origines de la mondialisation financière 1880-1913 by Marc Flandreau( Book )
14 editions published in 2004 in French and held by 56 libraries worldwide
Cet ouvrage retrace la genèse de l'intégration financière internationale au cours de la première ère "moderne" de mondialisation, de 1880 à 1913
Stability without a pact? : lessons from the European gold standard 1880-1914 by Marc Flandreau( Book )
12 editions published in 1998 in English and held by 31 libraries worldwide
The geography of the gold standard by Barry J Eichengreen( Book )
10 editions published in 1994 in English and held by 29 libraries worldwide
In this paper we chart the geography of the gold standard. We highlight the late date of the move to gold and the variety of transition strategies. Whether a country with a currency convertible into specie operated a gold, silver or bimetallic standard at mid-century depended not so much on whether it was rich or poor as on the monetary standard of the foreign country or countries to which its transactions were linked. When it came to the distinction between specie convertibility and inconvertibility, however, domestic economic conditions came into play. In particular, there was a strong correlation between economic development, as proxied by the level of per capita incomes, and possession of a convertible currency.Most countries went onto the gold standard between the 1870s and the first decade of the twentieth century. We enumerate the factors propelling this transition and analyse variations in its timing. Factors shaping the course of this transition include the level of economic development, the magnitude of reserves relative to world specie markets, whether reserves were concentrated at the central bank, and the presence or absence of imperial ties
The end of gatekeeping: underwriters and the quality of sovereign bondmarkets, 1815-2007 by Marc Flandreau( Book )
15 editions published in 2009 in English and Undetermined and held by 27 libraries worldwide
We provide a comparison of salient organizational features of primary markets for foreign government debt over the very long run. We focus on output, quality control, information provision, competition, pricing, charging, and signaling. We find that the market setup experienced a radical transformation in the recent period, and we interpret this as resulting from the rise of liability insurance provided by rating agencies. Underwriters have given up their former role as gatekeepers of liquidity and certification agencies to become aggressive competitors in a new Speculative Grade market
The bank, the states, and the market : an Austro-Hungarian tale for Euroland, 1867-1914 by Marc Flandreau( Book )
6 editions published in 2001 in English and held by 25 libraries worldwide
The burden of intervention : externalities in multilateral exchange rates arrangements by Marc Flandreau( Book )
8 editions published between 1995 and 1996 in English and held by 24 libraries worldwide
An essay on the emergence of the international gold standard, 1870-80 by Marc Flandreau( Book )
6 editions published in 1995 in English and held by 23 libraries worldwide
How to run a target zone? : age old lessons from an Austro-Hungarian experiment by Marc Flandreau( Book )
4 editions published in 2001 in English and held by 20 libraries worldwide
This paper considers what we argue was the first experiment of a exchange rate band. This experiment took place in Austria-Hungary between 1896 and 1914. The rationale of introducing this policy rested on precisely those intuitions that modern target zone literature has recently emphasized: the band was designed to secure both exchange rate stability and monetary policy autonomy. However, unlike more recent experiences, such as the ERM, this policy was not undermined by credibility problems. In other words the episode provides us with an ideal testing ground for some important ideas in modern macroeconomics: specifically, can formal rules, when faithfully adhered to, provide policy makers with some advantages such as short term flexibility? First, we find that a credible band has a "microeconomic" influence on exchange rate stability. By reducing uncertainty, a credible fluctuation band improves the quality of expectations, a channel that has
Crises and punishment : moral hazard and the pre-1914 international financial architecture by Marc Flandreau( Book )
7 editions published in 2003 in English and held by 19 libraries worldwide
To err is human : rating agencies and the interwar foreign government debt crisis by Marc Flandreau( Book )
8 editions published in 2010 in English and held by 18 libraries worldwide
During the 1930s, rating agencies took up a central role in regulatory supervision that they still have today. The proximate cause for this changeover was the economic shock of the Great Depression. Exploring the performance of rating agencies in assessing the risks of sovereign debt, an important segment of the bond market, we do not find that superior forecasting capacities can explain the agencies' growing importance
Cavaet [i.e. caveat] emptor : coping with sovereign risk without the multilaterals by Marc Flandreau( Book )
8 editions published in 1998 in English and held by 18 libraries worldwide
Old sins : exchange rate clauses and European foreign lending in the 19th century by Marc Flandreau( Book )
6 editions published in 2004 in English and held by 16 libraries worldwide
The ties that divide : a network analysis of the international monetary system by Marc Flandreau( Book )
6 editions published in 2005 in English and held by 16 libraries worldwide
The rise and fall of the dollar, or when did the dollar replace sterling as the leading international currency? by Barry J Eichengreen( Book )
10 editions published in 2008 in English and held by 15 libraries worldwide
We present new evidence on the currency composition of foreign exchange reserves in the 1920s and 1930s. Contrary to the presumption that the pound sterling continued to dominate the U.S. dollar in central bank reserves until after World War II, we show that the dollar first overtook sterling in the mid-1920s. This suggests that the network effects thought to lend inertia to international currency status and to create incumbency advantages for the dominant international currency do not apply in the reserve currency domain. Our new evidence is similarly incompatible with the notion that there is only room in the market for one dominant reserve currency at a point in time. Our findings have important implications for our understanding of interwar monetary history but also for the prospects of the dollar and the euro as reserve currencies
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Alternative Names
Flandreau, M. 1967-
English (218)
French (23)
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