In this Paper we focus on the different historical regime experiences of the core and the periphery. Using conventional … develop this intuition by showing that before 1914, advanced countries adhered to gold while periphery countries either … resort to capital controls. Thus the key distinction between the exchange rate regime of core and periphery countries both …

Most countries in the periphery specialized in the export of just a handful of primary products for most of their … change. Additionally, both effects were asymmetric between Core and Periphery, findings that speak directly to the terms of …