Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/247104 
Authors: 
Year of Publication: 
2019
Series/Report no.: 
EHES Working Paper No. 174
Publisher: 
European Historical Economics Society (EHES), s.l.
Abstract: 
Over the early modern period and beyond, massive amounts of silver and gold were found and mined in the Americas. In this paper, 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.
Subjects: 
American Precious Metals
Early Modern Period
Dutch Disease
Political Institutions
Economic growth
comparative development
JEL: 
E02
E4
N14
O11
Document Type: 
Working Paper

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