APHES Award 2012

Conference paper awarded:

Nuno Pedro Gonçalves Palma (UNL-FE), "Spending a Windfall: American Precious Metals and Euro-Asian Trade 1492-1807"

Jury panel report:

"The winning conference paper went the farthest in its choice of a wide-ranging theme, based on a study in which we can find many surprises, structured in an exemplary way, and with a high degree of methodological innovation. (...) This conference paper argues that monetary injections recurring from exploring silver and gold from South America were the main driving forces of the development of commerce between Europe and Asia during Modern Age (1492-1807). This conclusion is based on a model that translates monetary shocks in the international commercial system, allowing the measure of the real impact as well as the counterfactual possibility of not having that same monetary impact."


Pedro Lains (ICS-UL, Presidente)
Mário Viana (U. dos Açores)
Mafalda Soares da Cunha (U. Évora)
Pedro Neves (ISEG-UTL)
Fátima Sá (ISCTE-IUL)
Maria João Vaz (ISCTE-IUL).