Macroeconomics of the Franco-Prussian War Indemnity
Macroeconomics of the Franco-Prussian War Indemnity
Macroeconomics of the Franco-Prussian War Indemnity
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Hong Kong Institute for Monetary Research<br />
Figure 1. French Current Account/GDP<br />
8<br />
current account<br />
net <strong>of</strong> indemnity<br />
6<br />
perecent <strong>of</strong> GDP<br />
4<br />
2<br />
0<br />
-2<br />
current account<br />
-4<br />
1860 1865 1870 1875 1880<br />
Year<br />
Figure 2. French Terms <strong>of</strong> Trade and Net Export Share<br />
6<br />
S<br />
1.10<br />
4<br />
1.05<br />
Net export share <strong>of</strong> GDP<br />
2<br />
0<br />
-2<br />
nx/y<br />
1.00<br />
0.95<br />
0.90<br />
Terms <strong>of</strong> trade<br />
-4<br />
0.85<br />
-6<br />
0.80<br />
1860 1865 1870 1875 1880<br />
Year<br />
27
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