A Retrospective on the Bretton Woods System: Lessons for by Michael D. Bordo,Barry Eichengreen

By Michael D. Bordo,Barry Eichengreen

At the shut of the second one global warfare, whilst industrialized countries confronted critical exchange and fiscal imbalances, delegates from forty-four nations met in Bretton Woods, New Hampshire, so that it will reconstruct the foreign financial procedure. during this quantity, 3 generations of students and coverage makers, a few of whom participated within the 1944 convention, think of how the Bretton Woods approach contributed to unparalleled monetary balance and swift progress for 25 years and speak about the issues that plagued the approach and ended in its eventual cave in in 1971.

The members discover adjustment, liquidity, and transmission less than the process; how it affected constructing international locations; and the function of the overseas financial Fund in preserving a reliable expense. The authors learn the explanations for the System's luck and eventual cave in, examine it to next financial regimes, comparable to the eu financial approach, and handle the opportunity of a brand new fastened alternate price for modern-day world.

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