currency_trading — International currency trading networks (1890-1910)

Description

Directed networks of the international circulation of 45 currencies in 1890, 1900 and 1910, compiled by M. Flandreau and C. Jobst. Nodes are countries (each with its own currency), and a directed edge from country $i$ to country $j$ means that the currency of country $j$ was actively traded (i.e., regularly quoted with changing prices, revealing an underlying flow of transactions) in a foreign exchange market of country $i$ in that year. The data were collected from local stock exchange bulletins, newspapers and cambists' handbooks of the main financial centres of each country, and include virtually all currencies of the world at the time; a currency counts as traded in a country if there is evidence of active trading in at least one of its financial centres. There is one network for each year (1890, 1900 and 1910).

The networks have the following properties:

Nodes: name, the three-letter code of the country (e.g. "GBR", "DEU", "AUH" for Austria-Hungary, "OTT" for the Ottoman Empire); and explanatory variables used by Flandreau and Jobst (2009), which refer to 1900 unless stated otherwise (NaN if missing): gold, whether the currency was convertible in gold; debtburden, the ratio of government debt over government revenues; rlong, the secondary market yield of gold-denominated government debt; rshort1900 and rshort1890, the market rate for three-month lending in 1900 and 1890; rgdp and rgdpcap, the logarithm of the real GDP and of the real GDP per capita; poldemo, Vanhanen's index of democracy; coverage, the logarithm of the number of currencies traded in the country.
Edges: colony, whether country $i$ was a colony of country $j$; dist, the logarithm of the distance between the financial centres of the two countries (the shortest one, if there are several); bitrade, the total trade between the two countries in 1900, in thousand US dollars (zero if not reported).¹

Description obtained in part from the ICON project. ↩

Tags

Economic Unweighted Metadata Temporal

Citation

M. Flandreau, C. Jobst, "The ties that divide: a network analysis of the international monetary system, 1890-1910." The Journal of Economic History 65(4), 977-1007 (2005) 10.1017/S0022050705000379 Sci-Hub
M. Flandreau, C. Jobst, "The empirics of international currencies: network externalities, history and persistence." The Economic Journal 119(537), 643-664 (2009) 10.1111/j.1468-0297.2009.02219.x Sci-Hub

Upstream URL OK

https://eh.net/database/international-currencies-1890-1910/

Networks

Tip: click on a column header to sort the list, or hover over it for a description.

Column legend

$\left<k\right>$: Mean degree
$\sigma_k$: Standard deviation of the degrees
$\lambda_h$: Largest eigenvalue of the Hashimoto (non-backtracking) matrix
$\tau$: Random walk mixing time
$r$: Degree assortativity
$c$: Global clustering coefficient
$\oslash$: (Pseudo-) diameter
$S$: Relative size of the largest component
NPs: Node properties
EPs: Edge properties

Name	Nodes	Edges	$\left<k\right>$	$\sigma_k$	$\lambda_h$	$\tau$	$r$	$c$	$\oslash$	$S$	Kind	Mode	NPs	EPs	gt	GraphML	GML	csv
1890	45	194	4.31	10.59	10.33	2.77	-0.44	0.38	2	1.00	Directed	Unipartite	name gold debtburden rlong rshort1900 rshort1890 rgdp rgdpcap poldemo coverage	colony dist bitrade	5 KiB	6 KiB	5 KiB	5 KiB
1900	45	218	4.84	11.01	11.23	2.89	-0.42	0.41	2	1.00	Directed	Unipartite	name gold debtburden rlong rshort1900 rshort1890 rgdp rgdpcap poldemo coverage	colony dist bitrade	5 KiB	6 KiB	6 KiB	5 KiB
1910	45	264	5.87	12.34	12.93	2.31	-0.42	0.47	2	1.00	Directed	Unipartite	name gold debtburden rlong rshort1900 rshort1890 rgdp rgdpcap poldemo coverage	colony dist bitrade	6 KiB	7 KiB	6 KiB	5 KiB