ABSTRACT

In this paper I seek to understand the roots of South African macroeconomic outperformance since 1929 and whether it can be reconciled with what I have described as conventional wisdom about recovery from the Depression. Unsurprisingly, I find a way of fitting South Africa into that story. In addition, I try to understand better why, if going off the gold standard was so beneficial, indeed even more beneficial for South Africa than for other countries, it was so strongly resisted.

中文翻译：

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黄金与南非的大萧条

摘要

在本文中，我试图了解自 1929 年以来南非宏观经济表现优异的根源，以及它是否与我所描述的有关从大萧条中复苏的传统智慧相一致。不出所料，我找到了一种让南非融入这个故事的方法。此外，我试图更好地理解为什么如果脱离金本位制如此有益，甚至对南非比对其他国家更有益，为什么会遭到如此强烈的抵制。