American Precious Metals and Their Consequences for Early Modern Europe

Nuno Palma

doi:10.1007/978-981-10-0622-7_58-1

American Precious Metals and Their Consequences for Early Modern Europe

Nuno Palma

Economics

Research output: Chapter in Book/Report/Conference proceeding › Chapter

Abstract

Over the early modern period and beyond, massive amounts of silver and gold were found and mined in the Americas. In this chapter, I review the consequences for the European economies. Some second-order receiver countries such as England benefited in both the short and long run. First-order receivers such as Spain and Portugal also benefited in the short run, but their continued exposure to the arrival of massive quantities of precious metals eventually led to loss of competitiveness and an institutional resource curse.

Original language	English
Title of host publication	Handbook of the History of Money and Currency
Editors	Stefano Battilossi, Youssef Cassis, Kazuhiko Yago
Publisher	Springer Singapore
ISBN (Electronic)	9789811006227
DOIs	https://doi.org/10.1007/978-981-10-0622-7_58-1
Publication status	Published - 2019

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10.1007/978-981-10-0622-7_58-1

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American Precious Metals and Their Consequences for Early Modern Europe

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