A Retrospective on the Bretton Woods System: Lessons for International Monetary Reform (National Bureau of Economic Research Project Report) - Hardcover

Hardcover

ISBN 10: 0226065871 ISBN 13: 9780226065878

Publisher: University of Chicago Press, 1993

Synopsis

At the close of the Second World War, when industrialized nations faced serious trade and financial imbalances, delegates from forty-four countries met in Bretton Woods, New Hampshire, in order to reconstruct the international monetary system. In this volume, three generations of scholars and policy makers, some of whom participated in the 1944 conference, consider how the Bretton Woods System contributed to unprecedented economic stability and rapid growth for 25 years and discuss the problems that plagued the system and led to its eventual collapse in 1971.

The contributors explore adjustment, liquidity, and transmission under the System; the way it affected developing countries; and the role of the International Monetary Fund in maintaining a stable rate. The authors examine the reasons for the System's success and eventual collapse, compare it to subsequent monetary regimes, such as the European Monetary System, and address the possibility of a new fixed exchange rate for today's world.

About this title

About the Author

Michael D. Bordo is professor of economics at Rutgers, the State University of New Jersey, and a research associate of the NBER.

About this edition

• Publisher: University of Chicago Press
• Publication date: 1993
• ISBN 10: 0226065871
• ISBN 13: 9780226065878
• Binding: Hardcover
• Edition number: 1
• Number of pages: 690
• Editor: Bordo Michael D., Eichengreen Barry