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class="vector-toc-text"> <span class="vector-toc-numb">1.4</span> <span>Spain</span> </div> </a> <ul id="toc-Spain-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Egypt" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Egypt"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.5</span> <span>Egypt</span> </div> </a> <ul id="toc-Egypt-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Ottoman_Empire" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Ottoman_Empire"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.6</span> <span>Ottoman Empire</span> </div> </a> <ul id="toc-Ottoman_Empire-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Famine" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Famine"> <div class="vector-toc-text"> <span class="vector-toc-numb">2</span> <span>Famine</span> </div> </a> <ul id="toc-Famine-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Restoration" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Restoration"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Restoration</span> </div> </a> <ul id="toc-Restoration-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" 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data-mw-ve-target-container> <div class="vector-body-before-content"> <div class="mw-indicators"> </div> <div id="siteSub" class="noprint">From Wikipedia, the free encyclopedia</div> </div> <div id="contentSub"><div id="mw-content-subtitle"></div></div> <div id="mw-content-text" class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Shortage of gold and silver in 15th century Europe</div> <figure class="mw-default-size mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:FRANCE,_Royal._Louis_XI_le_Prudent_(the_Prudent).jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/c/c9/FRANCE%2C_Royal._Louis_XI_le_Prudent_%28the_Prudent%29.jpg/220px-FRANCE%2C_Royal._Louis_XI_le_Prudent_%28the_Prudent%29.jpg" decoding="async" width="220" height="116" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/c9/FRANCE%2C_Royal._Louis_XI_le_Prudent_%28the_Prudent%29.jpg/330px-FRANCE%2C_Royal._Louis_XI_le_Prudent_%28the_Prudent%29.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/c9/FRANCE%2C_Royal._Louis_XI_le_Prudent_%28the_Prudent%29.jpg/440px-FRANCE%2C_Royal._Louis_XI_le_Prudent_%28the_Prudent%29.jpg 2x" data-file-width="500" data-file-height="264" /></a><figcaption>Gold coin of <a href="/wiki/Louis_XI_of_France" class="mw-redirect" title="Louis XI of France">Louis XI of France</a>, minted at <a href="/wiki/Perpignan" title="Perpignan">Perpignan</a> in 1461 during the worst years of the Great Bullion Famine</figcaption></figure> <p>The <b>Great Bullion Famine</b> was a shortage of <a href="/wiki/Precious_metal" title="Precious metal">precious metals</a> that struck <a href="/wiki/Europe" title="Europe">Europe</a> in the 15th century, with the worst years of the famine lasting from 1457 to 1464. During the <a href="/wiki/Middle_Ages" title="Middle Ages">Middle Ages</a>, <a href="/wiki/Gold" title="Gold">gold</a> and <a href="/wiki/Silver" title="Silver">silver</a> coins saw widespread use as <a href="/wiki/Currency" title="Currency">currency</a> in Europe and facilitated trade with the <a href="/wiki/Middle_East" title="Middle East">Middle East</a> and <a href="/wiki/Asia" title="Asia">Asia</a>; the shortage of these metals therefore became a problem for European economies. The main cause for the bullion famine was outflow of silver to the East unequaled by European mining output, although 15th-century contemporaries believed the bullion famine to be caused by hoarding. </p><p>The exploration and later discovery of the <a href="/wiki/New_World" title="New World">New World</a> is believed to have been fueled by the bullion famine. The discovery of the Americas with its silver and gold, along with innovations in mining techniques, and the Portuguese gaining access to African gold ended the bullion famine. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Background">Background</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Great_Bullion_Famine&action=edit&section=1" title="Edit section: Background"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The main cause for the bullion famine was outflow of silver to the East unequaled by European mining output.<sup id="cite_ref-FOOTNOTEDyer2003266_1-0" class="reference"><a href="#cite_note-FOOTNOTEDyer2003266-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-FOOTNOTEPamuk200043_2-0" class="reference"><a href="#cite_note-FOOTNOTEPamuk200043-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> The historian John Day supports this theory, stating the loss of gold and silver was due to large-scale trading with the <a href="/wiki/Levant" title="Levant">Levant</a>, which provided Europe spices, silks, rare dyestuffs, pearls, and precious gems.<sup id="cite_ref-FOOTNOTEDay19785_3-0" class="reference"><a href="#cite_note-FOOTNOTEDay19785-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> The primary markets for these goods were found in Egypt, Syria and Cyprus.<sup id="cite_ref-FOOTNOTEDay19787_4-0" class="reference"><a href="#cite_note-FOOTNOTEDay19787-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>Fifteenth-century contemporaries believed the bullion famine to be caused by hoarding.<sup id="cite_ref-FOOTNOTESpufford1993347_5-0" class="reference"><a href="#cite_note-FOOTNOTESpufford1993347-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> <a href="/wiki/%C5%9Eevket_Pamuk" title="Şevket Pamuk">Şevket Pamuk</a>, professor of economics and economic history, states the bullion famine was exacerbated by the increase in the hoarding of coin.<sup id="cite_ref-FOOTNOTEPamuk200043_2-1" class="reference"><a href="#cite_note-FOOTNOTEPamuk200043-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> However, the historian Diana Wood states that the silver shortage exacerbated economic problems already caused by war, famine, and plague.<sup id="cite_ref-FOOTNOTEWood200280_6-0" class="reference"><a href="#cite_note-FOOTNOTEWood200280-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> </p><p>During the first half of the 14th century, European mining more than compensated the bullion loss from trade with the <a href="/wiki/Middle_East" title="Middle East">Middle East</a>.<sup id="cite_ref-FOOTNOTEDay197811_7-0" class="reference"><a href="#cite_note-FOOTNOTEDay197811-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> Prior to the <a href="/wiki/Black_Death" title="Black Death">Black Death</a>, the loss of silver in England was caused by "accident and export".<sup id="cite_ref-FOOTNOTEDay19785_3-1" class="reference"><a href="#cite_note-FOOTNOTEDay19785-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> Yet by 1348, the <a href="/wiki/Black_Death" title="Black Death">Black Death</a> had slowed silver mining.<sup id="cite_ref-FOOTNOTEKindleberger198424_8-0" class="reference"><a href="#cite_note-FOOTNOTEKindleberger198424-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> The mint at Bordeaux suffered a drop in production by fifty percent during the 1380s,<sup id="cite_ref-FOOTNOTEBlackmore2020124_9-0" class="reference"><a href="#cite_note-FOOTNOTEBlackmore2020124-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> and by 1392 French mints were suffering an accelerated decline in silver coining.<sup id="cite_ref-FOOTNOTEDay197813_10-0" class="reference"><a href="#cite_note-FOOTNOTEDay197813-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> By contrast, from 1346 to 1384, Flemish mints continued to produce silver groats, yet by 1392 the mint at Ghent had stopped coining and the Bruges mint fell idle in 1402.<sup id="cite_ref-FOOTNOTEDay197816_11-0" class="reference"><a href="#cite_note-FOOTNOTEDay197816-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="France">France</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Great_Bullion_Famine&action=edit&section=2" title="Edit section: France"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>By 1405 French gold crowns were hardly issued at all,<sup id="cite_ref-FOOTNOTEDay197813_10-1" class="reference"><a href="#cite_note-FOOTNOTEDay197813-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> and in 1409 Parisian money-changers declared they could not sell bullion to the mint at any price.<sup id="cite_ref-FOOTNOTEDay197814_12-0" class="reference"><a href="#cite_note-FOOTNOTEDay197814-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> Even the ducal mints of <a href="/wiki/John_the_Fearless" title="John the Fearless">John, Duke of Burgundy</a>, stopped minting coins by 1432–1434.<sup id="cite_ref-FOOTNOTEDay197815_13-0" class="reference"><a href="#cite_note-FOOTNOTEDay197815-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> From 1400 to 1420, gold coins were no longer circulated in Toulouse.<sup id="cite_ref-FOOTNOTEDay197815_13-1" class="reference"><a href="#cite_note-FOOTNOTEDay197815-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> In 1414–1415, the Bordelais' Three Estates, faced with reports of a failure of circulating silver, appealed for action to be taken.<sup id="cite_ref-FOOTNOTEBlackmore2020125-126_14-0" class="reference"><a href="#cite_note-FOOTNOTEBlackmore2020125-126-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="England">England</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Great_Bullion_Famine&action=edit&section=3" title="Edit section: England"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The English mint in Durham suffered a decline in output until its closure from 1394 to 1412.<sup id="cite_ref-FOOTNOTEAllen2012271_15-0" class="reference"><a href="#cite_note-FOOTNOTEAllen2012271-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> By 1411, the English sterling had been devalued to prevent silver loss in trade with Flanders.<sup id="cite_ref-FOOTNOTEBlackmore2020124_9-1" class="reference"><a href="#cite_note-FOOTNOTEBlackmore2020124-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> The London mint's bullion famine was partially mitigated by the reminting of old heavy coins to the new lighter standards which took effect in 1412.<sup id="cite_ref-FOOTNOTEAllen2012271_15-1" class="reference"><a href="#cite_note-FOOTNOTEAllen2012271-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> While the lightening of the gold English <i>noble</i> occurred from 1421 to 1524.<sup id="cite_ref-FOOTNOTEBlanchard20011083_16-0" class="reference"><a href="#cite_note-FOOTNOTEBlanchard20011083-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Italy">Italy</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Great_Bullion_Famine&action=edit&section=4" title="Edit section: Italy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>During the 1370s, the mines in Serbia and Bosnia allowed Venice to avoid the worst of the silver shortage,<sup id="cite_ref-FOOTNOTEPamuk200043_2-2" class="reference"><a href="#cite_note-FOOTNOTEPamuk200043-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> but the bullion loss drained silver mines in Bohemia and Sardinia as quickly as it was mined.<sup id="cite_ref-FOOTNOTEDay197812_17-0" class="reference"><a href="#cite_note-FOOTNOTEDay197812-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> </p><p>By 1420, gold was sent to the <i><a href="/wiki/Fondaco_dei_Tedeschi" title="Fondaco dei Tedeschi">Fondaco dei Tedeschi</a></i> in Venice, thence to the mint and then used in trade with the <a href="/wiki/Mamluk_Sultanate" title="Mamluk Sultanate">Mamluk Sultanate</a>.<sup id="cite_ref-FOOTNOTEDay197810_18-0" class="reference"><a href="#cite_note-FOOTNOTEDay197810-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> The expansion of the Ottoman Empire into the Balkans had worsened the supply of bullion from mines to the rest of Europe,<sup id="cite_ref-FOOTNOTEPieper2003295_19-0" class="reference"><a href="#cite_note-FOOTNOTEPieper2003295-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-FOOTNOTECampbell2016367_20-0" class="reference"><a href="#cite_note-FOOTNOTECampbell2016367-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> and this expansion exposed Venice to the silver famine until the discovery of new silver mines in northern Europe in the 1450s and 1460s.<sup id="cite_ref-FOOTNOTEPamuk200044_21-0" class="reference"><a href="#cite_note-FOOTNOTEPamuk200044-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> By 1495, Venice merchants were using copper coinage to conduct trade for spices with the Mamluk Sultanate.<sup id="cite_ref-FOOTNOTEFuess201967_22-0" class="reference"><a href="#cite_note-FOOTNOTEFuess201967-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> Prior to <a href="/wiki/Vasco_de_Gama" class="mw-redirect" title="Vasco de Gama">Vasco de Gama</a>'s voyage in 1497, Venetian trade exported 300,000 ducats in bullion to <a href="/wiki/Alexandria" title="Alexandria">Alexandria</a> every year.<sup id="cite_ref-FOOTNOTEDay197811_7-1" class="reference"><a href="#cite_note-FOOTNOTEDay197811-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Spain">Spain</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Great_Bullion_Famine&action=edit&section=5" title="Edit section: Spain"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Spain suffered an economic crisis due to the bullion famine, and yet the famine, and with it the search for gold, drove the exploration and conquest of the <a href="/wiki/New_World" title="New World">New World</a>.<sup id="cite_ref-FOOTNOTELundahl201311_23-0" class="reference"><a href="#cite_note-FOOTNOTELundahl201311-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Egypt">Egypt</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Great_Bullion_Famine&action=edit&section=6" title="Edit section: Egypt"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>By 1397–1398, the silver famine had spread to the <a href="/wiki/Mamluk_Sultanate" title="Mamluk Sultanate">Mamluk Sultanate</a> which terminated the minting of silver dirhams.<sup id="cite_ref-FOOTNOTEPamuk200044_21-1" class="reference"><a href="#cite_note-FOOTNOTEPamuk200044-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> Consequently, importing slaves from the Black Sea region was an immense drain on Mamluk coin supply.<sup id="cite_ref-FOOTNOTEFindlayO'Rourke2007117_24-0" class="reference"><a href="#cite_note-FOOTNOTEFindlayO'Rourke2007117-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Ottoman_Empire">Ottoman Empire</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Great_Bullion_Famine&action=edit&section=7" title="Edit section: Ottoman Empire"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In the Ottoman Empire, despite the capture of Serbian and Bosnian silver mines, <a href="/wiki/Mehmed_II" title="Mehmed II">Mehmed II</a> imposed strict laws to limit silver circulation.<sup id="cite_ref-FOOTNOTEPamuk200044_21-2" class="reference"><a href="#cite_note-FOOTNOTEPamuk200044-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> Any bullion produced or imported to the Ottoman Empire was to be submitted to the mint and coined.<sup id="cite_ref-FOOTNOTEPamuk200044_21-3" class="reference"><a href="#cite_note-FOOTNOTEPamuk200044-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> Included in this law was the employment of <i>yasakci kuls</i> (silver seekers) who were authorized to search any and all persons and places and confiscate silver.<sup id="cite_ref-FOOTNOTEPamuk200045_25-0" class="reference"><a href="#cite_note-FOOTNOTEPamuk200045-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> Despite these measures the Ottoman Empire also suffered from the silver famine.<sup id="cite_ref-FOOTNOTEPamuk200045_25-1" class="reference"><a href="#cite_note-FOOTNOTEPamuk200045-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Famine">Famine</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Great_Bullion_Famine&action=edit&section=8" title="Edit section: Famine"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The bullion famine caused a European economic recession that only the Portuguese and Low Countries were capable of surviving.<sup id="cite_ref-FOOTNOTECampbell2016334_26-0" class="reference"><a href="#cite_note-FOOTNOTECampbell2016334-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> During the 15th century, silver bullion became so rare that commodities were used in place of coin.<sup id="cite_ref-FOOTNOTEKindleberger198424_8-1" class="reference"><a href="#cite_note-FOOTNOTEKindleberger198424-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> European trade, c.1410, was crippled by the bullion famine and barely improved by the time the second bullion famine struck in c.1440.<sup id="cite_ref-FOOTNOTECampbell2016369_27-0" class="reference"><a href="#cite_note-FOOTNOTECampbell2016369-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> </p><p>Barter became so commonplace that the spice <a href="/wiki/Black_pepper" title="Black pepper">pepper</a> was used in place of bullion, with the Germans calling their bankers <i>peppermen</i>.<sup id="cite_ref-FOOTNOTEKindleberger198424_8-2" class="reference"><a href="#cite_note-FOOTNOTEKindleberger198424-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> In England, the lack of bullion brought about a barter system,<sup id="cite_ref-FOOTNOTEWood200280_6-1" class="reference"><a href="#cite_note-FOOTNOTEWood200280-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> in response <a href="/wiki/Edward_IV_of_England" class="mw-redirect" title="Edward IV of England">Edward IV of England</a> passed an act in 1464, stating that carders, spinners, weavers, and fullers were to be paid lawful money for their wages; continued complaints by the cloth industry indicate this act was neglected.<sup id="cite_ref-FOOTNOTEWood200280_6-2" class="reference"><a href="#cite_note-FOOTNOTEWood200280-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> </p><p>In France people resorted to barter by 1420,<sup id="cite_ref-FOOTNOTEDay197815_13-2" class="reference"><a href="#cite_note-FOOTNOTEDay197815-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> and a barter system was improvised based on the value of commodities, if one commodity were deemed more expensive than the other, the difference was topped off with a payment of money.<sup id="cite_ref-FOOTNOTEWood200280_6-3" class="reference"><a href="#cite_note-FOOTNOTEWood200280-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> </p><p>As the bullion supply worsened, mining and refining techniques were improved.<sup id="cite_ref-FOOTNOTEPieper2003295_19-1" class="reference"><a href="#cite_note-FOOTNOTEPieper2003295-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Georgius_Agricola" title="Georgius Agricola">Georgius Agricola</a> in his work, <i><a href="/wiki/De_re_metallica" title="De re metallica">De re metallica</a></i>, recorded these techniques.<sup id="cite_ref-FOOTNOTEPieper2003295_19-2" class="reference"><a href="#cite_note-FOOTNOTEPieper2003295-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> It also drove shipwrights to enhance the ability of merchant ships to extend their trading range.<sup id="cite_ref-FOOTNOTEKindleberger198425_28-0" class="reference"><a href="#cite_note-FOOTNOTEKindleberger198425-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> These naval advances were copied by the Genoans for their merchant vessels.<sup id="cite_ref-FOOTNOTEKindleberger198425_28-1" class="reference"><a href="#cite_note-FOOTNOTEKindleberger198425-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> </p><p>The exploration and later discovery of America is believed to have been fueled by the bullion famine.<sup id="cite_ref-FOOTNOTEKindleberger198417_29-0" class="reference"><a href="#cite_note-FOOTNOTEKindleberger198417-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> Columbus's voyage was motivated by the search for gold, being mentioned in his diary sixty-five times.<sup id="cite_ref-FOOTNOTEKindleberger198425-26_30-0" class="reference"><a href="#cite_note-FOOTNOTEKindleberger198425-26-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> The Portuguese exploration of Africa and a trade route to India via the <a href="/wiki/Cape_of_Good_Hope" title="Cape of Good Hope">Cape of Good Hope</a> was similarly fueled by the famine.<sup id="cite_ref-FOOTNOTECervantes20218_31-0" class="reference"><a href="#cite_note-FOOTNOTECervantes20218-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Restoration">Restoration</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Great_Bullion_Famine&action=edit&section=9" title="Edit section: Restoration"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:SPANISH_COLONIAL._Philip_II._1556-1598._AR_Cob_8_Reales_(38mm,_26.70_gm)._Potos%C3%AD_mint.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/e/ec/SPANISH_COLONIAL._Philip_II._1556-1598._AR_Cob_8_Reales_%2838mm%2C_26.70_gm%29._Potos%C3%AD_mint.jpg/220px-SPANISH_COLONIAL._Philip_II._1556-1598._AR_Cob_8_Reales_%2838mm%2C_26.70_gm%29._Potos%C3%AD_mint.jpg" decoding="async" width="220" height="108" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/e/ec/SPANISH_COLONIAL._Philip_II._1556-1598._AR_Cob_8_Reales_%2838mm%2C_26.70_gm%29._Potos%C3%AD_mint.jpg 1.5x" data-file-width="325" data-file-height="159" /></a><figcaption>Spanish colonial coin of <a href="/wiki/Philip_II_of_Spain" title="Philip II of Spain">Philip II</a>, minted in <a href="/wiki/Potos%C3%AD" title="Potosí">Potosí</a> (modern-day <a href="/wiki/Bolivia" title="Bolivia">Bolivia</a>), struck <abbr title="circa">c.</abbr><span style="white-space:nowrap;"> 1580</span></figcaption></figure> <p>The <a href="/wiki/Age_of_Discovery" title="Age of Discovery">discovery</a> of the <a href="/wiki/New_World" title="New World">New World</a> and with it silver from Mexico and Peru ended the bullion famine by 1550.<sup id="cite_ref-FOOTNOTELane20217_32-0" class="reference"><a href="#cite_note-FOOTNOTELane20217-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-FOOTNOTEAllen2009188_33-0" class="reference"><a href="#cite_note-FOOTNOTEAllen2009188-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> Pieper supports this thesis, stating the Caribbean gold mines were exploited and thus ended the European bullion famine.<sup id="cite_ref-FOOTNOTEPieper2003295_19-3" class="reference"><a href="#cite_note-FOOTNOTEPieper2003295-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> Moyk Lieberman states that an increase in bullion,<sup id="cite_ref-FOOTNOTELieberman2009695_34-0" class="reference"><a href="#cite_note-FOOTNOTELieberman2009695-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup> the reopening of old mines, and a resurgence in population allowed mine production to remain constant, which also assisted in ending the bullion famine.<sup id="cite_ref-FOOTNOTECampbell2016367-368_35-0" class="reference"><a href="#cite_note-FOOTNOTECampbell2016367-368-35"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup> Even as early as the 1440s, Portugal was able to bolster its economy by trading for African gold bullion.<sup id="cite_ref-FOOTNOTECampbell2016368_36-0" class="reference"><a href="#cite_note-FOOTNOTECampbell2016368-36"><span class="cite-bracket">[</span>36<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Great_Bullion_Famine&action=edit&section=10" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Gresham%27s_law" title="Gresham's law">Gresham's law</a></li> <li><a href="/wiki/Great_Slump_(15th_century)" title="Great Slump (15th century)">Great Slump</a></li> <li><a href="/wiki/Mining_and_metallurgy_in_medieval_Europe" title="Mining and metallurgy in medieval Europe">Mining and metallurgy in medieval Europe</a></li> <li><a href="/wiki/Age_of_Discovery" title="Age of Discovery">Age of Discovery</a></li> <li><a href="/wiki/Spanish_Price_Revolution" class="mw-redirect" title="Spanish Price Revolution">Spanish Price Revolution</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Great_Bullion_Famine&action=edit&section=11" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-columns references-column-width reflist-columns-3"> <ol class="references"> <li id="cite_note-FOOTNOTEDyer2003266-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEDyer2003266_1-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFDyer2003">Dyer 2003</a>, p. 266.</span> </li> <li id="cite_note-FOOTNOTEPamuk200043-2"><span class="mw-cite-backlink">^ <a href="#cite_ref-FOOTNOTEPamuk200043_2-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-FOOTNOTEPamuk200043_2-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-FOOTNOTEPamuk200043_2-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFPamuk2000">Pamuk 2000</a>, p. 43.</span> </li> <li id="cite_note-FOOTNOTEDay19785-3"><span class="mw-cite-backlink">^ <a href="#cite_ref-FOOTNOTEDay19785_3-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-FOOTNOTEDay19785_3-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFDay1978">Day 1978</a>, p. 5.</span> </li> <li id="cite_note-FOOTNOTEDay19787-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEDay19787_4-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFDay1978">Day 1978</a>, p. 7.</span> </li> <li id="cite_note-FOOTNOTESpufford1993347-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTESpufford1993347_5-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFSpufford1993">Spufford 1993</a>, p. 347.</span> </li> <li id="cite_note-FOOTNOTEWood200280-6"><span class="mw-cite-backlink">^ <a href="#cite_ref-FOOTNOTEWood200280_6-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-FOOTNOTEWood200280_6-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-FOOTNOTEWood200280_6-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-FOOTNOTEWood200280_6-3"><sup><i><b>d</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFWood2002">Wood 2002</a>, p. 80.</span> </li> <li id="cite_note-FOOTNOTEDay197811-7"><span class="mw-cite-backlink">^ <a href="#cite_ref-FOOTNOTEDay197811_7-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-FOOTNOTEDay197811_7-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFDay1978">Day 1978</a>, p. 11.</span> </li> <li id="cite_note-FOOTNOTEKindleberger198424-8"><span class="mw-cite-backlink">^ <a href="#cite_ref-FOOTNOTEKindleberger198424_8-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-FOOTNOTEKindleberger198424_8-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-FOOTNOTEKindleberger198424_8-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFKindleberger1984">Kindleberger 1984</a>, p. 24.</span> </li> <li id="cite_note-FOOTNOTEBlackmore2020124-9"><span class="mw-cite-backlink">^ <a href="#cite_ref-FOOTNOTEBlackmore2020124_9-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-FOOTNOTEBlackmore2020124_9-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFBlackmore2020">Blackmore 2020</a>, p. 124.</span> </li> <li id="cite_note-FOOTNOTEDay197813-10"><span class="mw-cite-backlink">^ <a href="#cite_ref-FOOTNOTEDay197813_10-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-FOOTNOTEDay197813_10-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFDay1978">Day 1978</a>, p. 13.</span> </li> <li id="cite_note-FOOTNOTEDay197816-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEDay197816_11-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFDay1978">Day 1978</a>, p. 16.</span> </li> <li id="cite_note-FOOTNOTEDay197814-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEDay197814_12-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFDay1978">Day 1978</a>, p. 14.</span> </li> <li id="cite_note-FOOTNOTEDay197815-13"><span class="mw-cite-backlink">^ <a href="#cite_ref-FOOTNOTEDay197815_13-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-FOOTNOTEDay197815_13-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-FOOTNOTEDay197815_13-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFDay1978">Day 1978</a>, p. 15.</span> </li> <li id="cite_note-FOOTNOTEBlackmore2020125-126-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEBlackmore2020125-126_14-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFBlackmore2020">Blackmore 2020</a>, p. 125-126.</span> </li> <li id="cite_note-FOOTNOTEAllen2012271-15"><span class="mw-cite-backlink">^ <a href="#cite_ref-FOOTNOTEAllen2012271_15-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-FOOTNOTEAllen2012271_15-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFAllen2012">Allen 2012</a>, p. 271.</span> </li> <li id="cite_note-FOOTNOTEBlanchard20011083-16"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEBlanchard20011083_16-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFBlanchard2001">Blanchard 2001</a>, p. 1083.</span> </li> <li id="cite_note-FOOTNOTEDay197812-17"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEDay197812_17-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFDay1978">Day 1978</a>, p. 12.</span> </li> <li id="cite_note-FOOTNOTEDay197810-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEDay197810_18-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFDay1978">Day 1978</a>, p. 10.</span> </li> <li id="cite_note-FOOTNOTEPieper2003295-19"><span class="mw-cite-backlink">^ <a href="#cite_ref-FOOTNOTEPieper2003295_19-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-FOOTNOTEPieper2003295_19-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-FOOTNOTEPieper2003295_19-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-FOOTNOTEPieper2003295_19-3"><sup><i><b>d</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFPieper2003">Pieper 2003</a>, p. 295.</span> </li> <li id="cite_note-FOOTNOTECampbell2016367-20"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTECampbell2016367_20-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFCampbell2016">Campbell 2016</a>, p. 367.</span> </li> <li id="cite_note-FOOTNOTEPamuk200044-21"><span class="mw-cite-backlink">^ <a href="#cite_ref-FOOTNOTEPamuk200044_21-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-FOOTNOTEPamuk200044_21-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-FOOTNOTEPamuk200044_21-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-FOOTNOTEPamuk200044_21-3"><sup><i><b>d</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFPamuk2000">Pamuk 2000</a>, p. 44.</span> </li> <li id="cite_note-FOOTNOTEFuess201967-22"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEFuess201967_22-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFFuess2019">Fuess 2019</a>, p. 67.</span> </li> <li id="cite_note-FOOTNOTELundahl201311-23"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTELundahl201311_23-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFLundahl2013">Lundahl 2013</a>, p. 11.</span> </li> <li id="cite_note-FOOTNOTEFindlayO'Rourke2007117-24"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEFindlayO'Rourke2007117_24-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFFindlayO'Rourke2007">Findlay & O'Rourke 2007</a>, p. 117.</span> </li> <li id="cite_note-FOOTNOTEPamuk200045-25"><span class="mw-cite-backlink">^ <a href="#cite_ref-FOOTNOTEPamuk200045_25-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-FOOTNOTEPamuk200045_25-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFPamuk2000">Pamuk 2000</a>, p. 45.</span> </li> <li id="cite_note-FOOTNOTECampbell2016334-26"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTECampbell2016334_26-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFCampbell2016">Campbell 2016</a>, p. 334.</span> </li> <li id="cite_note-FOOTNOTECampbell2016369-27"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTECampbell2016369_27-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFCampbell2016">Campbell 2016</a>, p. 369.</span> </li> <li id="cite_note-FOOTNOTEKindleberger198425-28"><span class="mw-cite-backlink">^ <a href="#cite_ref-FOOTNOTEKindleberger198425_28-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-FOOTNOTEKindleberger198425_28-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFKindleberger1984">Kindleberger 1984</a>, p. 25.</span> </li> <li id="cite_note-FOOTNOTEKindleberger198417-29"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEKindleberger198417_29-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFKindleberger1984">Kindleberger 1984</a>, p. 17.</span> </li> <li id="cite_note-FOOTNOTEKindleberger198425-26-30"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEKindleberger198425-26_30-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFKindleberger1984">Kindleberger 1984</a>, p. 25-26.</span> </li> <li id="cite_note-FOOTNOTECervantes20218-31"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTECervantes20218_31-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFCervantes2021">Cervantes 2021</a>, p. 8.</span> </li> <li id="cite_note-FOOTNOTELane20217-32"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTELane20217_32-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFLane2021">Lane 2021</a>, p. 7.</span> </li> <li id="cite_note-FOOTNOTEAllen2009188-33"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEAllen2009188_33-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFAllen2009">Allen 2009</a>, p. 188.</span> </li> <li id="cite_note-FOOTNOTELieberman2009695-34"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTELieberman2009695_34-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFLieberman2009">Lieberman 2009</a>, p. 695.</span> </li> <li id="cite_note-FOOTNOTECampbell2016367-368-35"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTECampbell2016367-368_35-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFCampbell2016">Campbell 2016</a>, p. 367-368.</span> </li> <li id="cite_note-FOOTNOTECampbell2016368-36"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTECampbell2016368_36-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFCampbell2016">Campbell 2016</a>, p. 368.</span> </li> </ol></div> <div class="mw-heading mw-heading2"><h2 id="Sources">Sources</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Great_Bullion_Famine&action=edit&section=12" title="Edit section: Sources"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFAllen2009" class="citation encyclopaedia cs1">Allen, Larry, ed. (2009). "Great Bullion Famine". <i>The Encyclopedia of Money</i> (2nd ed.). ABC-CLIO.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Great+Bullion+Famine&rft.btitle=The+Encyclopedia+of+Money&rft.edition=2nd&rft.pub=ABC-CLIO&rft.date=2009&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGreat+Bullion+Famine" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAllen2012" class="citation book cs1">Allen, Martin (2012). <i>Mints and Money in Medieval England</i>. Cambridge University Press.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Mints+and+Money+in+Medieval+England&rft.pub=Cambridge+University+Press&rft.date=2012&rft.aulast=Allen&rft.aufirst=Martin&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGreat+Bullion+Famine" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBlackmore2020" class="citation book cs1">Blackmore, Robert (2020). <i>Government and Merchant Finance in Anglo-Gascon Trade, 1300–1500</i>. <a href="/wiki/Palgrave_Macmillan" title="Palgrave Macmillan">Palgrave Macmillan</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Government+and+Merchant+Finance+in+Anglo-Gascon+Trade%2C+1300%E2%80%931500&rft.pub=Palgrave+Macmillan&rft.date=2020&rft.aulast=Blackmore&rft.aufirst=Robert&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGreat+Bullion+Famine" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBlanchard2001" class="citation book cs1">Blanchard, Ian (2001). <i>Mining, Metallurgy, and Minting in the Middle Ages: Continuing Afro-European Supremacy, 1250-1450</i>. F. Steiner.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Mining%2C+Metallurgy%2C+and+Minting+in+the+Middle+Ages%3A+Continuing+Afro-European+Supremacy%2C+1250-1450&rft.pub=F.+Steiner&rft.date=2001&rft.aulast=Blanchard&rft.aufirst=Ian&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGreat+Bullion+Famine" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCampbell2016" class="citation book cs1">Campbell, B. M. S. (2016). <i>The Great Transition</i>. Cambridge University Press.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Great+Transition&rft.pub=Cambridge+University+Press&rft.date=2016&rft.aulast=Campbell&rft.aufirst=B.+M.+S.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGreat+Bullion+Famine" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCervantes2021" class="citation book cs1">Cervantes, Fernando (2021). <i>Conquistadores: A New History of Spanish Discovery and Conquest</i>. Penguin.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Conquistadores%3A+A+New+History+of+Spanish+Discovery+and+Conquest&rft.pub=Penguin&rft.date=2021&rft.aulast=Cervantes&rft.aufirst=Fernando&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGreat+Bullion+Famine" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDay1978" class="citation journal cs1 cs1-prop-long-vol">Day, John (1978). "The Great Bullion Famine of the Fifteenth Century". <i>Past & Present</i>. 79 (May). Oxford University Press: <span class="nowrap">3–</span>54. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1093%2Fpast%2F79.1.3">10.1093/past/79.1.3</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Past+%26+Present&rft.atitle=The+Great+Bullion+Famine+of+the+Fifteenth+Century&rft.volume=79+%28May%29&rft.pages=%3Cspan+class%3D%22nowrap%22%3E3-%3C%2Fspan%3E54&rft.date=1978&rft_id=info%3Adoi%2F10.1093%2Fpast%2F79.1.3&rft.aulast=Day&rft.aufirst=John&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGreat+Bullion+Famine" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDyer2003" class="citation book cs1">Dyer, Christopher (2003). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=UBQaCAAAQBAJ"><i>Making a Living in the Middle Ages: The People of Britain 850–1520</i></a>. Yale University Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780300167078" title="Special:BookSources/9780300167078"><bdi>9780300167078</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Making+a+Living+in+the+Middle+Ages%3A+The+People+of+Britain+850%E2%80%931520&rft.pub=Yale+University+Press&rft.date=2003&rft.isbn=9780300167078&rft.aulast=Dyer&rft.aufirst=Christopher&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DUBQaCAAAQBAJ&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGreat+Bullion+Famine" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFindlayO'Rourke2007" class="citation book cs1">Findlay, Ronald; O'Rourke, Kevin H. (2007). <i>Power and Plenty: Trade, War, and the World Economy in the Second Millennium</i>. Princeton University Press.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Power+and+Plenty%3A+Trade%2C+War%2C+and+the+World+Economy+in+the+Second+Millennium&rft.pub=Princeton+University+Press&rft.date=2007&rft.aulast=Findlay&rft.aufirst=Ronald&rft.au=O%27Rourke%2C+Kevin+H.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGreat+Bullion+Famine" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFuess2019" class="citation book cs1">Fuess, Albrecht (2019). "How to Cope with Scarcity of Commodities? The Mamluks' Quest for Metal". In Amitai, Reuven; Conermann, Stephan (eds.). <i>The Mamluk Sultanate from the Perspective of Regional and World History: Economic, Social and Cultural Development in an Era of Increasing International Interaction and Competition</i>. Bonn University Press.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=How+to+Cope+with+Scarcity+of+Commodities%3F+The+Mamluks%27+Quest+for+Metal&rft.btitle=The+Mamluk+Sultanate+from+the+Perspective+of+Regional+and+World+History%3A+Economic%2C+Social+and+Cultural+Development+in+an+Era+of+Increasing+International+Interaction+and+Competition&rft.pub=Bonn+University+Press&rft.date=2019&rft.aulast=Fuess&rft.aufirst=Albrecht&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGreat+Bullion+Famine" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKindleberger1984" class="citation book cs1">Kindleberger, Charles (1984). <i>A Financial History of Western Europe</i>. George Allen & Unwin.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=A+Financial+History+of+Western+Europe&rft.pub=George+Allen+%26+Unwin&rft.date=1984&rft.aulast=Kindleberger&rft.aufirst=Charles&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGreat+Bullion+Famine" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLane2021" class="citation book cs1">Lane, Kris (2021). <i>Potosi: The Silver City That Changed the World</i>. University of California Press.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Potosi%3A+The+Silver+City+That+Changed+the+World&rft.pub=University+of+California+Press&rft.date=2021&rft.aulast=Lane&rft.aufirst=Kris&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGreat+Bullion+Famine" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLieberman2009" class="citation book cs1 cs1-prop-long-vol">Lieberman, Victor (2009). <i>Strange Parallels</i>. Vol. Mainland Mirrors: Europe, Japan, China, Southeast Asia in Global, c.800-1830. Cambridge University Press.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Strange+Parallels&rft.pub=Cambridge+University+Press&rft.date=2009&rft.aulast=Lieberman&rft.aufirst=Victor&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGreat+Bullion+Famine" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLundahl2013" class="citation book cs1">Lundahl, Mats (2013). <i>The Political Economy of Disaster: Destitution, Plunder and Earthquake in Haiti</i>. Taylor & Francis.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Political+Economy+of+Disaster%3A+Destitution%2C+Plunder+and+Earthquake+in+Haiti&rft.pub=Taylor+%26+Francis&rft.date=2013&rft.aulast=Lundahl&rft.aufirst=Mats&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGreat+Bullion+Famine" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPamuk2000" class="citation book cs1"><a href="/wiki/%C5%9Eevket_Pamuk" title="Şevket Pamuk">Pamuk, Şevket</a> (2000). <i>A Monetary History of the Ottoman Empire</i>. Cambridge University Press.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=A+Monetary+History+of+the+Ottoman+Empire&rft.pub=Cambridge+University+Press&rft.date=2000&rft.aulast=Pamuk&rft.aufirst=%C5%9Eevket&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGreat+Bullion+Famine" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPieper2003" class="citation encyclopaedia cs1">Pieper, Renate (2003). "Bullion". In Mokyr, Joel (ed.). <i>The Oxford Encyclopedia of Economic History</i>. Vol. 5. Oxford University Press.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Bullion&rft.btitle=The+Oxford+Encyclopedia+of+Economic+History&rft.pub=Oxford+University+Press&rft.date=2003&rft.aulast=Pieper&rft.aufirst=Renate&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGreat+Bullion+Famine" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSpufford1993" class="citation book cs1"><a href="/wiki/Peter_Spufford" title="Peter Spufford">Spufford, Peter</a> (1993). <i>Money and Its Use in Medieval Europe</i>. Cambridge University Press.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Money+and+Its+Use+in+Medieval+Europe&rft.pub=Cambridge+University+Press&rft.date=1993&rft.aulast=Spufford&rft.aufirst=Peter&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGreat+Bullion+Famine" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWood2002" class="citation book cs1">Wood, Diana (2002). <i>Medieval Economic Thought</i>. Cambridge University Press.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Medieval+Economic+Thought&rft.pub=Cambridge+University+Press&rft.date=2002&rft.aulast=Wood&rft.aufirst=Diana&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGreat+Bullion+Famine" class="Z3988"></span></li></ul> <div class="navbox-styles"><style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output .hlist.inline,.mw-parser-output .hlist.inline dl,.mw-parser-output .hlist.inline ol,.mw-parser-output .hlist.inline ul,.mw-parser-output .hlist dl dl,.mw-parser-output .hlist dl ol,.mw-parser-output .hlist dl ul,.mw-parser-output .hlist ol dl,.mw-parser-output .hlist ol ol,.mw-parser-output .hlist ol ul,.mw-parser-output .hlist ul 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aria-labelledby="Financial_crises1226" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini 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crises"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Financial_crises1226" style="font-size:114%;margin:0 4em"><a href="/wiki/Financial_crisis" title="Financial crisis">Financial crises</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><span class="nowrap"><a href="/wiki/Bank_run" title="Bank run">Bank run</a></span></li> <li><span class="nowrap"><a href="/wiki/Commodity_price_shocks" title="Commodity price shocks">Commodity price shocks</a></span></li> <li><span class="nowrap"><a href="/wiki/Credit_crunch" title="Credit crunch">Credit crunch</a></span></li> <li><span class="nowrap"><a href="/wiki/Credit_cycle" title="Credit cycle">Credit cycle</a></span></li> <li><span class="nowrap"><a href="/wiki/Currency_crisis" title="Currency crisis">Currency crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Debt_crisis" title="Debt crisis">Debt crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Energy_crisis" title="Energy crisis">Energy crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Financial_contagion" title="Financial contagion">Financial contagion</a></span> <ul><li><span class="nowrap"><a href="/wiki/Social_contagion" title="Social contagion">Social contagion</a></span></li></ul></li> <li><span class="nowrap"><a href="/wiki/Flash_crash" title="Flash crash">Flash crash</a></span></li> <li><span class="nowrap"><a href="/wiki/Hyperinflation" title="Hyperinflation">Hyperinflation</a></span></li> <li><span class="nowrap"><a href="/wiki/Liquidity_crisis" title="Liquidity crisis">Liquidity crisis</a></span> <ul><li><span class="nowrap"><a href="/wiki/Accounting_liquidity" title="Accounting liquidity">Accounting</a></span></li> <li><span class="nowrap"><a href="/wiki/Liquid_capital" title="Liquid capital">Capital</a></span></li> <li><span class="nowrap"><a href="/wiki/Funding_liquidity" title="Funding liquidity">Funding</a></span></li> <li><span class="nowrap"><a href="/wiki/Market_liquidity" title="Market liquidity">Market</a></span></li></ul></li> <li><span class="nowrap"><a href="/wiki/Minsky_moment" title="Minsky moment">Minsky moment</a></span></li> <li><span class="nowrap"><a href="/wiki/Social_crisis" title="Social crisis">Social crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Stock_market_crash" title="Stock market crash">Stock market crash</a></span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Pre-<a href="/wiki/Commercial_revolution" title="Commercial revolution">1000</a></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Financial_crisis_of_33" title="Financial crisis of 33">Financial crisis of 33 CE</a></span></li> <li><span class="nowrap"><a href="/wiki/Crisis_of_the_Third_Century" title="Crisis of the Third Century">Crisis of the Third Century</a> (235–284 CE)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Commercial_revolution" title="Commercial revolution">Commercial revolution</a><br />(1000–1760)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a class="mw-selflink selflink">Great Bullion Famine</a> (c. 1400–c. 1500)</span></li> <li><span class="nowrap"><a href="/wiki/The_Great_Debasement" title="The Great Debasement">The Great Debasement</a> (1544–1551)</span></li> <li><span class="nowrap"><a href="/wiki/Financial_history_of_the_Dutch_Republic" title="Financial history of the Dutch Republic">Dutch Republic stock market crashes</a> (c. 1600–1760)</span></li> <li><span class="nowrap"><i><a href="/wiki/Kipper_und_Wipper" title="Kipper und Wipper">Kipper und Wipper</a></i> (1621–1623)</span></li> <li><span class="nowrap"><a href="/wiki/Tulip_mania" title="Tulip mania">Tulip mania crash</a> (1637)</span></li> <li><span class="nowrap"><a href="/wiki/South_Sea_Company" title="South Sea Company">South Sea bubble crash</a> (1720)</span></li> <li><span class="nowrap"><a href="/wiki/Mississippi_Company" class="mw-redirect" title="Mississippi Company">Mississippi bubble crash</a> (1720)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Industrial_Revolution" title="Industrial Revolution">1st Industrial Revolution</a><br />(1760–1840)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Amsterdam_banking_crisis_of_1763" title="Amsterdam banking crisis of 1763">Amsterdam banking crisis of 1763</a></span></li> <li><span class="nowrap"><a href="/wiki/Bengal_Bubble_of_1769" title="Bengal Bubble of 1769">Bengal bubble crash</a> (1769–1784)</span></li> <li><span class="nowrap"><a href="/wiki/British_credit_crisis_of_1772%E2%80%931773" title="British credit crisis of 1772–1773">British credit crisis of 1772–1773</a></span></li> <li><span class="nowrap"><a href="/wiki/Financial_history_of_the_Dutch_Republic" title="Financial history of the Dutch Republic">Dutch Republic financial collapse</a> (c. 1780–1795)</span></li> <li><span class="nowrap"><a href="/wiki/Copper_Panic_of_1789" title="Copper Panic of 1789">Copper Panic of 1789</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1792" title="Panic of 1792">Panic of 1792</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1796%E2%80%931797" title="Panic of 1796–1797">Panic of 1796–1797</a></span></li> <li><span class="nowrap"><a href="/wiki/Danish_state_bankruptcy_of_1813" title="Danish state bankruptcy of 1813">Danish state bankruptcy of 1813</a></span></li> <li><span class="nowrap"><a href="/wiki/Commodity_price_shocks" title="Commodity price shocks">Post-Napoleonic Irish grain price and land use shocks</a> (1815–1816)</span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1819" title="Panic of 1819">Panic of 1819</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1825" title="Panic of 1825">Panic of 1825</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1837" title="Panic of 1837">Panic of 1837</a></span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">1840–1870</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/European_potato_failure" title="European potato failure">European potato failure</a> (1845–1856)</span> <ul><li><span class="nowrap"><a href="/wiki/Great_Famine_(Ireland)" title="Great Famine (Ireland)">Great Irish Famine</a></span></li> <li><span class="nowrap"><a href="/wiki/Highland_Potato_Famine" title="Highland Potato Famine">Highland Potato Famine</a></span></li></ul></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1847" title="Panic of 1847">Panic of 1847</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1857" title="Panic of 1857">Panic of 1857</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1866" title="Panic of 1866">Panic of 1866</a></span></li> <li><span class="nowrap"><a href="/wiki/Black_Friday_(1869)" title="Black Friday (1869)">Black Friday</a> (1869)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Second_Industrial_Revolution" title="Second Industrial Revolution">2nd Industrial Revolution</a><br />(1870–1914)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Panic_of_1873" title="Panic of 1873">Panic of 1873</a></span></li> <li><span class="nowrap"><a href="/wiki/Paris_Bourse_crash_of_1882" title="Paris Bourse crash of 1882">Paris Bourse crash of 1882</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1884" title="Panic of 1884">Panic of 1884</a></span></li> <li><span class="nowrap"><a href="/wiki/Arendal_crash" title="Arendal crash">Arendal crash</a> (1886)</span></li> <li><span class="nowrap"><a href="/wiki/Baring_crisis" title="Baring crisis">Baring crisis</a> (1890)</span></li> <li><span class="nowrap"><a href="/wiki/Encilhamento" title="Encilhamento">Encilhamento</a> (1890–1893)</span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1893" title="Panic of 1893">Panic of 1893</a></span></li> <li><span class="nowrap"><a href="/wiki/Australian_banking_crisis_of_1893" title="Australian banking crisis of 1893">Australian banking crisis of 1893</a></span></li> <li><span class="nowrap"><a href="/wiki/Black_Monday_(1894)" title="Black Monday (1894)">Black Monday</a> (1894)</span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1896" title="Panic of 1896">Panic of 1896</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1901" title="Panic of 1901">Panic of 1901</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1907" title="Panic of 1907">Panic of 1907</a></span></li> <li><span class="nowrap"><a href="/wiki/Shanghai_rubber_stock_market_crisis" title="Shanghai rubber stock market crisis">Shanghai rubber stock market crisis</a> (1910)</span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1910%E2%80%9311" title="Panic of 1910–11">Panic of 1910–11</a></span></li> <li><span class="nowrap"><a href="/wiki/Financial_crisis_of_1914" title="Financial crisis of 1914">Financial crisis of 1914</a></span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Interwar_period" title="Interwar period">Interwar period</a><br />(1918–1939)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Hyperinflation_in_early_Soviet_Russia" title="Hyperinflation in early Soviet Russia">Early Soviet hyperinflation</a> (1917–1924)</span></li> <li><span class="nowrap"><a href="/wiki/Hyperinflation_in_the_Weimar_Republic" title="Hyperinflation in the Weimar Republic">Weimar Republic hyperinflation</a> (1921–1923)</span></li> <li><span class="nowrap"><a href="/wiki/Sh%C5%8Dwa_financial_crisis" title="Shōwa financial crisis">Shōwa financial crisis</a> (1927)</span></li> <li><span class="nowrap"><a href="/wiki/Wall_Street_crash_of_1929" title="Wall Street crash of 1929">Wall Street crash of 1929</a></span></li> <li><span class="nowrap"><a href="/wiki/Panic_of_1930" title="Panic of 1930">Panic of 1930</a></span></li> <li><span class="nowrap"><a href="/wiki/Chinese_hyperinflation" title="Chinese hyperinflation">Chinese hyperinflation</a> (1937-1950)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/World_War_II" title="World War II">Wartime period</a><br />(1939–1945)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Hyperinflation_in_Greece" title="Hyperinflation in Greece">Greek hyperinflation</a> (1941–1946)</span></li> <li><span class="nowrap"><a href="/wiki/Chinese_hyperinflation" title="Chinese hyperinflation">Chinese hyperinflation</a> (1937-1950)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Post%E2%80%93World_War_II_economic_expansion" title="Post–World War II economic expansion">Post–WWII expansion</a><br />(1945–1973)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Hungarian_peng%C5%91#Hyperinflation" title="Hungarian pengő">Hungarian pengő hyperinflation</a> (1945–1946)</span></li> <li><span class="nowrap"><a href="/wiki/Kennedy_Slide_of_1962" title="Kennedy Slide of 1962">Kennedy Slide of 1962</a></span></li> <li><span class="nowrap"><a href="/w/index.php?title=1963%E2%80%931965_Indonesian_hyperinflation&action=edit&redlink=1" class="new" title="1963–1965 Indonesian hyperinflation (page does not exist)">1963–1965 Indonesian hyperinflation</a></span></li> <li><span class="nowrap"><a href="/wiki/Chinese_hyperinflation" title="Chinese hyperinflation">Chinese hyperinflation</a> (1937-1950)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Stagflation" title="Stagflation">Great Inflation</a><br />(1973–1982)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/1970s_energy_crisis" title="1970s energy crisis">1970s energy crisis</a> (1973–1980)</span></li> <li><span class="nowrap"><a href="/wiki/1973_oil_crisis" title="1973 oil crisis">1973 oil crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/1973%E2%80%931974_stock_market_crash" title="1973–1974 stock market crash">1973–1974 stock market crash</a></span></li> <li><span class="nowrap"><a href="/wiki/Secondary_banking_crisis_of_1973%E2%80%931975" title="Secondary banking crisis of 1973–1975">Secondary banking crisis of 1973–1975</a></span></li> <li><span class="nowrap"><a href="/wiki/Steel_crisis" title="Steel crisis">Steel crisis</a> (1973–1982)</span></li> <li><span class="nowrap"><a href="/wiki/Latin_American_debt_crisis" title="Latin American debt crisis">Latin American debt crisis</a> (1975–1982)</span></li> <li><span class="nowrap"><a href="/wiki/1976_sterling_crisis" title="1976 sterling crisis">1976 British currency crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/1979_oil_crisis" title="1979 oil crisis">1979 oil crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Hyperinflation_in_Brazil" title="Hyperinflation in Brazil">Brazilian hyperinflation</a> (1980–1982)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Great_Moderation" title="Great Moderation">Great Moderation</a>/<br /><a href="/wiki/Great_Regression" class="mw-redirect" title="Great Regression">Great Regression</a><br />(1982–2007)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Hyperinflation_in_Brazil" title="Hyperinflation in Brazil">Brazilian hyperinflation</a> (1982–1994)</span></li> <li><span class="nowrap"><a href="/wiki/Souk_Al-Manakh_stock_market_crash" title="Souk Al-Manakh stock market crash">Souk Al-Manakh stock market crash</a> (1982)</span></li> <li><span class="nowrap"><a href="/wiki/Crisis_of_1982" title="Crisis of 1982">Chilean crisis of 1982</a></span></li> <li><span class="nowrap"><a href="/wiki/1983_Israel_bank_stock_crisis" title="1983 Israel bank stock crisis">1983 Israel bank stock crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Black_Saturday_(1983)" title="Black Saturday (1983)">Black Saturday (1983)</a></span></li> <li><span class="nowrap"><a href="/wiki/Savings_and_loan_crisis" title="Savings and loan crisis">Savings and loan crisis</a> (1986–1995)</span></li> <li><span class="nowrap"><a href="/wiki/Cameroonian_economic_crisis" title="Cameroonian economic crisis">Cameroonian economic crisis</a> (1987–2000s)</span></li> <li><span class="nowrap"><a href="/wiki/Black_Monday_(1987)" title="Black Monday (1987)">Black Monday (1987)</a></span></li> <li><span class="nowrap"><a href="/wiki/1988%E2%80%931992_Norwegian_banking_crisis" title="1988–1992 Norwegian banking crisis">1988–1992 Norwegian banking crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Japanese_asset_price_bubble" title="Japanese asset price bubble">Japanese asset price bubble crash</a> (1990–1992)</span></li> <li><span class="nowrap"><a href="/wiki/Rhode_Island_banking_crisis" title="Rhode Island banking crisis">Rhode Island banking crisis</a> (1990–1992)</span></li> <li><span class="nowrap"><a href="/wiki/1991_Indian_economic_crisis" title="1991 Indian economic crisis">1991 Indian economic crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Sweden_financial_crisis_1990%E2%80%931994" class="mw-redirect" title="Sweden financial crisis 1990–1994">1990s Swedish financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/1990s_Finnish_banking_crisis" title="1990s Finnish banking crisis">1990s Finnish banking crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Armenian_energy_crisis_of_1990s" class="mw-redirect" title="Armenian energy crisis of 1990s">1990s Armenian energy crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Special_Period" title="Special Period">Cuban Special Period</a> (1991–2000)</span></li> <li><span class="nowrap"><a href="/wiki/Black_Wednesday" title="Black Wednesday">Black Wednesday (1992 Sterling crisis)</a></span></li> <li><span class="nowrap"><a href="/wiki/Hyperinflation_in_the_Federal_Republic_of_Yugoslavia" title="Hyperinflation in the Federal Republic of Yugoslavia">Yugoslav hyperinflation</a> (1992–1994)</span></li> <li><span class="nowrap"><a href="/wiki/1994_bond_market_crisis" title="1994 bond market crisis">1994 bond market crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Venezuelan_banking_crisis_of_1994" title="Venezuelan banking crisis of 1994">Venezuelan banking crisis of 1994</a></span></li> <li><span class="nowrap"><a href="/wiki/Mexican_peso_crisis" title="Mexican peso crisis">Mexican peso crisis</a> (1994–1996)</span></li> <li><span class="nowrap"><a href="/wiki/1997_Asian_financial_crisis" title="1997 Asian financial crisis">1997 Asian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/October_27,_1997,_mini-crash" title="October 27, 1997, mini-crash">October 1997 mini-crash</a></span></li> <li><span class="nowrap"><a href="/wiki/1998_Russian_financial_crisis" title="1998 Russian financial crisis">1998 Russian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/1998%E2%80%931999_Ecuador_economic_crisis" title="1998–1999 Ecuador economic crisis">1998–1999 Ecuador economic crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/1998%E2%80%932002_Argentine_great_depression" title="1998–2002 Argentine great depression">1998–2002 Argentine great depression</a></span></li> <li><span class="nowrap"><a href="/wiki/Samba_effect" title="Samba effect">Samba effect</a> (1999)</span></li> <li><span class="nowrap"><a href="/wiki/Dot-com_bubble" title="Dot-com bubble">Dot-com bubble crash</a> (2000–2004)</span></li> <li><span class="nowrap"><a href="/wiki/Economic_effects_of_the_September_11_attacks" title="Economic effects of the September 11 attacks">9/11 stock market crash</a> (2001)</span></li> <li><span class="nowrap"><a href="/wiki/2001_Turkish_economic_crisis" title="2001 Turkish economic crisis">2001 Turkish economic crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/South_American_economic_crisis_of_2002" title="South American economic crisis of 2002">South American economic crisis of 2002</a></span></li> <li><span class="nowrap"><a href="/wiki/Stock_market_downturn_of_2002" title="Stock market downturn of 2002">Stock market downturn of 2002</a></span></li> <li><span class="nowrap"><a href="/wiki/2002_Uruguay_banking_crisis" title="2002 Uruguay banking crisis">2002 Uruguay banking crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2003_Myanmar_banking_crisis" title="2003 Myanmar banking crisis">2003 Myanmar banking crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2000s_energy_crisis" title="2000s energy crisis">2000s energy crisis</a> (2003–2008)</span></li> <li><span class="nowrap"><a href="/wiki/2004_Argentine_energy_crisis" title="2004 Argentine energy crisis">2004 Argentine energy crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Chinese_stock_bubble_of_2007" title="Chinese stock bubble of 2007">2007 Chinese stock bubble crash</a></span></li> <li><span class="nowrap"><a href="/wiki/Hyperinflation_in_Zimbabwe" title="Hyperinflation in Zimbabwe">Zimbabwean hyperinflation</a> (2007–present)</span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Great_Recession" title="Great Recession">Great Recession</a><br />(2007–2009)</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/2007%E2%80%932008_financial_crisis" class="mw-redirect" title="2007–2008 financial crisis">2007–2008 financial crisis</a></span> <ul><li><span class="nowrap"><a href="/wiki/Global_financial_crisis_in_September_2008" title="Global financial crisis in September 2008">September 2008</a></span></li> <li><span class="nowrap"><a href="/wiki/Global_financial_crisis_in_October_2008" title="Global financial crisis in October 2008">October 2008</a></span></li> <li><span class="nowrap"><a href="/wiki/Global_financial_crisis_in_November_2008" title="Global financial crisis in November 2008">November 2008</a></span></li> <li><span class="nowrap"><a href="/wiki/Global_financial_crisis_in_December_2008" title="Global financial crisis in December 2008">December 2008</a></span></li> <li><span class="nowrap"><a href="/wiki/Global_financial_crisis_in_2009" title="Global financial crisis in 2009">2009</a></span></li> <li><span class="nowrap"><a href="/wiki/Subprime_mortgage_crisis" title="Subprime mortgage crisis">Subprime mortgage crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2000s_United_States_housing_market_correction" title="2000s United States housing market correction">2000s U.S. housing market correction</a></span></li> <li><span class="nowrap"><a href="/wiki/United_States_bear_market_of_2007%E2%80%932009" title="United States bear market of 2007–2009">U.S. bear market of 2007–2009</a></span></li> <li><span class="nowrap"><a href="/wiki/2008_Latvian_financial_crisis" title="2008 Latvian financial crisis">2008 Latvian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2008%E2%80%932009_Belgian_financial_crisis" title="2008–2009 Belgian financial crisis">2008–2009 Belgian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Great_Recession_in_Russia" title="Great Recession in Russia">2008–2009 Russian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2008%E2%80%932009_Ukrainian_financial_crisis" title="2008–2009 Ukrainian financial crisis">2008–2009 Ukrainian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2008%E2%80%932011_Icelandic_financial_crisis" title="2008–2011 Icelandic financial crisis">2008–2011 Icelandic financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Post-2008_Irish_banking_crisis" title="Post-2008 Irish banking crisis">2008–2011 Irish banking crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2008%E2%80%932014_Spanish_financial_crisis" title="2008–2014 Spanish financial crisis">2008–2014 Spanish financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Blue_Monday_Crash_2009" title="Blue Monday Crash 2009">Blue Monday Crash 2009</a></span></li> <li><span class="nowrap"><a href="/wiki/European_debt_crisis" class="mw-redirect" title="European debt crisis">European debt crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Greek_government-debt_crisis" title="Greek government-debt crisis">Greek government-debt crisis</a></span></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Information_Age" title="Information Age">Information Age</a><br />(2009–present)</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap"><a href="/wiki/Dubai_World" title="Dubai World">2009 Dubai debt standstill</a></span></li> <li><span class="nowrap"><a href="/wiki/Venezuelan_banking_crisis_of_2009%E2%80%932010" title="Venezuelan banking crisis of 2009–2010">Venezuelan banking crisis of 2009–2010</a></span></li> <li><span class="nowrap"><a href="/wiki/2010%E2%80%932014_Portuguese_financial_crisis" title="2010–2014 Portuguese financial crisis">2010–2014 Portuguese financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Energy_crisis_in_Venezuela" title="Energy crisis in Venezuela">Energy crisis in Venezuela</a> (2010–present)</span></li> <li><span class="nowrap"><a href="/wiki/Economy_of_Syria" title="Economy of Syria">Syrian economic crisis</a> (2011–present)</span></li> <li><span class="nowrap"><a href="/wiki/August_2011_stock_markets_fall" title="August 2011 stock markets fall">August 2011 stock markets fall</a></span></li> <li><span class="nowrap"><a href="/wiki/2011_Bangladesh_share_market_scam" title="2011 Bangladesh share market scam">2011 Bangladesh share market scam</a></span></li> <li><span class="nowrap"><a href="/wiki/2012%E2%80%932013_Cypriot_financial_crisis" title="2012–2013 Cypriot financial crisis">2012–2013 Cypriot financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Chinese_Banking_Liquidity_Crisis_of_2013" title="Chinese Banking Liquidity Crisis of 2013">2013 Chinese banking liquidity crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2013%E2%80%93present_economic_crisis_in_Venezuela" title="2013–present economic crisis in Venezuela">Venezuela economic crisis</a> (2013–present)</span></li> <li><span class="nowrap"><a href="/wiki/2014_Brazilian_economic_crisis" title="2014 Brazilian economic crisis">2014–2016 Brazilian economic crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Puerto_Rican_government-debt_crisis" title="Puerto Rican government-debt crisis">Puerto Rican government-debt crisis</a> (2014–2022)</span></li> <li><span class="nowrap"><a href="/wiki/Russian_financial_crisis_(2014%E2%80%932016)" title="Russian financial crisis (2014–2016)">Russian financial crisis (2014–2016)</a></span></li> <li><span class="nowrap"><a href="/wiki/2015_Nepal_blockade" title="2015 Nepal blockade">2015 Nepal blockade</a></span></li> <li><span class="nowrap"><a href="/wiki/2015%E2%80%932016_Chinese_stock_market_turbulence" title="2015–2016 Chinese stock market turbulence">2015–2016 Chinese stock market turbulence</a></span></li> <li><span class="nowrap"><a href="/wiki/2015%E2%80%932016_stock_market_selloff" title="2015–2016 stock market selloff">2015–2016 stock market selloff</a></span></li> <li><span class="nowrap"><a href="/wiki/Economic_effects_of_Brexit" title="Economic effects of Brexit">Brexit stock market crash</a> (2016)</span></li> <li><span class="nowrap"><a href="/wiki/Hyperinflation_in_Venezuela" title="Hyperinflation in Venezuela">Venezuelan hyperinflation</a> (2016–2022)</span></li> <li><span class="nowrap"><a href="/wiki/2017_Sri_Lankan_fuel_crisis" title="2017 Sri Lankan fuel crisis">2017 Sri Lankan fuel crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Ghana_banking_crisis" title="Ghana banking crisis">Ghana banking crisis</a> (2017–2018)</span></li> <li><span class="nowrap"><a href="/wiki/Turkish_economic_crisis_(2018%E2%80%93current)" title="Turkish economic crisis (2018–current)">Turkish economic crisis</a> (2018–present)</span></li> <li><span class="nowrap"><a href="/wiki/Lebanese_liquidity_crisis" title="Lebanese liquidity crisis">Lebanese liquidity crisis</a> (2019–present)</span></li> <li><span class="nowrap"><a href="/wiki/Sri_Lankan_economic_crisis_(2019%E2%80%93present)" class="mw-redirect" title="Sri Lankan economic crisis (2019–present)">Sri Lankan economic crisis</a> (2019–present)</span></li> <li><span class="nowrap"><a href="/wiki/Economic_impact_of_the_COVID-19_pandemic" title="Economic impact of the COVID-19 pandemic">COVID-19 pandemic</a></span> <ul><li><span class="nowrap"><a href="/wiki/Financial_market_impact_of_the_COVID-19_pandemic" title="Financial market impact of the COVID-19 pandemic">Financial market impact</a></span></li> <li><span class="nowrap"><a href="/wiki/2020_stock_market_crash" title="2020 stock market crash">2020 stock market crash</a></span></li> <li><span class="nowrap"><a href="/wiki/Early_2020s_recession" class="mw-redirect" title="Early 2020s recession">Recession</a></span></li></ul></li> <li><span class="nowrap"><a href="/wiki/Chinese_property_sector_crisis_(2020%E2%80%93present)" title="Chinese property sector crisis (2020–present)">Chinese property sector crisis</a> (2020–present)</span></li> <li><span class="nowrap"><a href="/wiki/2021%E2%80%932023_inflation_surge" title="2021–2023 inflation surge">2021–2023 inflation surge</a></span></li> <li><span class="nowrap"><a href="/wiki/Economic_impact_of_the_Russian_invasion_of_Ukraine" title="Economic impact of the Russian invasion of Ukraine">2022 Russian financial crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/Pakistani_economic_crisis_(2022%E2%80%93present)" title="Pakistani economic crisis (2022–present)">Pakistani economic crisis</a> (2022–present)</span></li> <li><span class="nowrap"><a href="/wiki/2022_stock_market_decline" title="2022 stock market decline">2022 stock market decline</a></span></li> <li><span class="nowrap"><a href="/wiki/German_economic_crisis_(2022%E2%80%93present)" title="German economic crisis (2022–present)">2022–2024 German economic crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2023_United_States_banking_crisis" title="2023 United States banking crisis">2023 United States banking crisis</a></span></li> <li><span class="nowrap"><a href="/wiki/2023%E2%80%932024_Egyptian_financial_crisis" title="2023–2024 Egyptian financial crisis">2023–2024 Egyptian financial crisis</a></span></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><span class="nowrap"><a href="/wiki/List_of_banking_crises" title="List of banking crises">List of banking crises</a></span></li> <li><span class="nowrap"><a href="/wiki/List_of_economic_crises" title="List of economic crises">List of economic crises</a></span></li> <li><span class="nowrap"><a href="/wiki/List_of_sovereign_debt_crises" title="List of sovereign debt crises">List of sovereign debt crises</a></span></li> <li><span class="nowrap"><a href="/wiki/List_of_stock_market_crashes_and_bear_markets" title="List of stock market crashes and bear markets">List of stock market crashes and bear markets</a></span></li></ul> 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