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

By Michael D. Bordo,Barry Eichengreen

At the shut of the second one global struggle, while industrialized international locations confronted critical exchange and fiscal imbalances, delegates from forty-four nations met in Bretton Woods, New Hampshire, to be able to reconstruct the overseas financial process. during this quantity, 3 generations of students and coverage makers, a few of whom participated within the 1944 convention, reflect on how the Bretton Woods process contributed to unparalleled fiscal balance and fast progress for 25 years and talk about the issues that plagued the method and resulted in its eventual cave in in 1971.

The individuals discover adjustment, liquidity, and transmission lower than the process; how it affected constructing nations; and the position of the overseas financial Fund in holding a solid cost. The authors research the explanations for the System's good fortune and eventual cave in, evaluate it to next financial regimes, reminiscent of the ecu financial approach, and deal with the opportunity of a brand new fastened trade fee for latest world.

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