Hyperinflation
About this book
Since 1970s when the world was experiencing an "age of inflation", a great volume of academic research about hyperinflation has been conducted. However, it is also true that parrot-like superficial talks abound, without questioning the economic, political and social foundations existing underneath the economic phenomenon.
Based on research results of contemporary economists, media reports and historical works, this book will be the most comprehensive narrative of all major events of hyperinflation worldwide from the turn of the first millennium to the mid-2010s. Firstly, it gives a brief illustration of the basic concepts of hyperinflation, starting with the definitions and price measurement. Then it traces and analyzes all major episodes of hyperinflation that occurred over the past two thousand years or so, from the earliest incidence to the four tidal waves in the 20 th century, and to the three latest episodes in the 21 st century. Using basic concepts in modern finance such as indexation and dollarization, this book explains why hyperinflation in some countries could explode into astronomical levels, while rhythms of hyperinflation in the 20 th century world are in resonance of megatrends in world economy and politics. Finally, this book underscores the importance of policy making, institutional building and international relations in the process of hyperinflation and stabilization.
Scholars and students studying money and finance, economic history, international finance and economics will be attracted by this book.
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Information
Table of contents
- Cover
- Title
- Copyright
- Dedication
- Contents
- List of figures
- List of tables
- Foreword
- Preface
- Acknowledgements
- 1 Introduction: basic concepts of hyperinflation
- 2 Monetary adventures before the twentieth century
- 3 The first wave of hyperinflation in the twentieth century: Germany, Russia, and CEE countries in the 1920s
- 4 The Second World War and the upsurge of hyperinflation in the 1940s
- 5 War finance and its aftermath: China in the 1940s
- 6 Hyperinflation in an “age of inflation”
- 7 A wave of hyperinflation in transition economies
- 8 World trend outliers: Zimbabwe and Venezuela in the twenty-first century
- 9 Conclusion
- References
- Index