Hyperinflation

Liping He is Professor at the School of Business and Economics, Beijing Normal University. His research interests include international finance and economics.

List of Figures. List of Tables. Preface. Acknowledgements Chapter I Introduction: Basic Concepts of Hyperinflation What is Hyperinflation? What Causes Hyperinflation? What are the Impacts of Hyperinflation? How to End Hyperinflation? Chapter II Monetary Adventures before the 20th Century Money and Inflation in the Ancient World Wang Mang: A Most Bizarre Adventure in Coinage The Roman Empire: Unstoppable Debasement Sung, Jurchen, and Mongol Rule: The World’s First Paper Currency Hyperinflation King Henry VIII: Great Debasement in Renaissance England The Ming and Ching: Aborted Paper Currencies amidst the Menace of Hyperinflation Paper Currency and American Revolution Assignats and Hyperinflation during the French Revolution Contrary Experiences of Inflation during America’s Civil War Chapter III The First Wave of Hyperinflation in the 20th Century: Germany, Russia, and CEE Countries in the 1920s Five Basic Facts of Hyperinflation during the 1920s The Gold Standard and Rise of the Banking Industry Alarm Bells for Hyperinflation: Lenin vs. Keynes The Treaty of Versailles, Reparations, and Germany’s Reaction Soviet Russia: Hyperinflation under "New Economic Policy" The Political Economy of Hyperinflation: Austria, Hungary, and Poland The League of Nations: An Emerging Role of Multilateralism Hyperinflation and the Rise of the Nazi Regime Chapter IV The Second World War and the Upsurge of Hyperinflation in the 1940s Greece: Wars and Long Stabilization Italy: Rising Inflation in the Last Stage of the War Hungary: The World Record Hyperinflation Japan: Surge in Inflation after the War The Philippines and South Korea: Hyperinflations Before and After Germany: Bitter Escape from Hyperinflation Chapter V War Finance and its Aftermath: China in the 1940s War Finance and High Inflation in the First Half of the 1940s Internal War and Hyperinflation Waves during the late 1940s Ending Hyperinflation in China Mainland and Taiwan Appendix Note: Friedman’s View on FDR, Silver and China Chapter VI Hyperinflations in an "Age of Inflation" The Collapse of the Bretton-Woods System and Advent of an "Age of Inflation" Bolivia: The First Peacetime Hyperinflation in the World Brazil and Argentina: Hyperinflation in Parallel Israel and Turkey: Contrasting Experiences of High Inflation Chile, Nicaragua, and Peru: Hyperinflation in Unsettled Societies Zaïre (Congo) and Angola: Hyperinflations in Failing States Chapter VII A Wave of Hyperinflation in Transition Economies Repressed Inflation in Planned Economies Hyperinflations in Russia and Other USSR Successor States Twice the Hyperinflation in Yugoslavia Inflations and Hyperinflations in Eastern European Countries Fighting High Inflations: China and Vietnam in East Asia Chapter VIII World Trend Outliers: Zimbabwe and Venezuela in the 21st century The World Trend: A "Great Moderation" in the 21st Century Zimbabwe: A Hyperinflation that Ends Its Own Currency Venezuela: Heading to Hyperinflation and Crisis North Korea: "Unrepressed" Hyperinflation in a Hermit Kingdom Appendix Note: Did China Help? Chapter IX Conclusion References. Index