Abstract

http://ssrn.com/abstract=2047494
 
 

References (73)



 
 

Citations (3)



 


 



The Monetary Mechanism of Stateless Somalia


William J. Luther


Kenyon College

April 28, 2012


Abstract:     
A peculiar monetary institution emerged during the period of interregnum in Somalia from January 1991 to August 2012. Without a functioning government to restrict the supply of notes in circulation, Somalis found it profitable to contract with foreign printers and import forgeries. The exchange value of the largest denomination Somali shillings note fell from US $0.30 in 1991 to US $0.03 in 2008. However, the purchasing power eventually stabilized at the cost of producing additional notes.

Number of Pages in PDF File: 26

Keywords: institutions, monetary regime, monetary standard, Somalia, Somali shilling, purchasing power

JEL Classification: E42


Open PDF in Browser Download This Paper

Date posted: April 29, 2012 ; Last revised: August 26, 2015

Suggested Citation

Luther, William J., The Monetary Mechanism of Stateless Somalia (April 28, 2012). Available at SSRN: http://ssrn.com/abstract=2047494 or http://dx.doi.org/10.2139/ssrn.2047494

Contact Information

William J. Luther (Contact Author)
Kenyon College ( email )
Gambier, OH 43022
United States
HOME PAGE: http://www.wluther.com
Feedback to SSRN


Paper statistics
Abstract Views: 1,390
Downloads: 185
Download Rank: 107,149
References:  73
Citations:  3

© 2015 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo1 in 0.328 seconds