Download or read book International Monetary Cooperation Since Bretton Woods written by Mr.Harold James and published by International Monetary Fund. This book was released on 1996-06-15 with total page 780 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive history, published jointly by the IMF and Oxford University Press, was written to mark the fiftieth anniversary of international monetary cooperation. From the establishment of the postwar international monetary system in 1944 to how the framework functions in a vastly expanded world economy, historian Harol James describes the tensions, negotiations, challenges, and progress of international monetary cooperation. This narrative offers a global perspective on the events and decisions that have shaped the world economy during the past fifty years.
Download or read book Golden Fetters written by Barry J. Eichengreen and published by NBER Series on Long-term Factors in Economic Development. This book was released on 1992 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a reassessment of the international monetary problems that led to the global economic crisis of the 1930s. The author shows how policies, in conjunction with the imbalances created by World War I, gave rise to the global crisis of the 1930s.
Download or read book Orderly Change written by David M. Andrews and published by Cornell University Press. This book was released on 2011-03-15 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Bretton Woods Conference of 1944 resulted in the formation of the International Monetary Fund and World Bank and helped lay the foundation for an unprecedented expansion of international commerce. Yet six decades later, at the beginning of the twenty-first century, the central characteristics of the Bretton Woods system remain disputed—and the subject of continuing public policy debate. Relying on extensive access to IMF, World Bank, and other archives, the authors show that the history of international monetary relations since Bretton Woods is one of "orderly change"—that is, change within a sturdy but supple framework. Even during the years of fixed exchange rates, very different practices characterized international monetary relations immediately after World War II, during the 1950s, and during the 1960s. Later, when the fixed exchange-rate system collapsed, underlying commitments to trade liberalization in the context of continuing national economic policy autonomy survived and even flourished. However, the resulting international economic order is now in grave danger: the tension between states' autonomy and their mutual openness has become acute, as international monetary structures no longer appear capable of mediating between these objectives. David M. Andrews and the contributors to Orderly Change examine past transitions as a means of suggesting possible avenues for current and future policymaking.
Download or read book The International Monetary Fund 1945 1965 written by International Monetary Fund and published by International Monetary Fund. This book was released on 1996-02-29 with total page 683 pages. Available in PDF, EPUB and Kindle. Book excerpt: IMF economists work closely with member countries on a variety of issues. Their unique perspective on country experiences and best practices on global macroeconomic issues are often shared in the form of books on diverse topics such as cross-country comparisons, capacity building, macroeconomic policy, financial integration, and globalization.
Download or read book International Monetary Fund written by Martin A. Weiss and published by CreateSpace. This book was released on 2015-06-26 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The International Monetary Fund (IMF), conceived at the Bretton Woods conference in July 1944, is the multilateral organization focused on the international monetary system. Created in 1946 with 46 members, it has grown to include 188 countries. The IMF has six purposes that are outlined in Article I of the IMF Articles of Agreement: promoting international monetary cooperation; expanding the balanced growth of international trade; facilitating exchange rate stability; eliminating restrictions on the international flow of capital; ensuring confidence by making the general resources of the Fund temporarily available to members; and adjusting balance-of-payments imbalances in an orderly manner.
Download or read book The Battle of Bretton Woods written by Benn Steil and published by Princeton University Press. This book was released on 2013-02-24 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recounts the events of the Bretton Woods accords, presents portaits of the two men at the center of the drama, and reveals Harry White's admiration for Soviet economic planning and communications with intelligence officers.
Download or read book Resetting the International Monetary Non System written by José Antonio Ocampo and published by Oxford University Press. This book was released on 2017 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides an analysis of the global monetary system and proposes a comprehensive yet evolutionary reform of the system aimed at creating better monetary cooperation for the twenty-first century.
Download or read book Theories of International Cooperation and the Primacy of Anarchy written by Jennifer Sterling-Folker and published by State University of New York Press. This book was released on 2012-02-01 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Challenging the standard liberal explanations for international cooperation in the field of international relations, this book contends that despite numerous efforts and the passage of time, our understanding of the cooperative phenomenon remains woefully inadequate. Sterling-Folker argues that widespread explanatory reliance on what constitutes functionally efficient choices in global interdependence is deductively illogical and empirically unsound. The author's approach for explaining international cooperation is comprised of realist and constructivist insights and places the state, rather than the market, at the center of analysis. A thorough examination of Post-Bretton Woods American monetary policy-making reveals the fundamental flaws of traditional explanations and the superiority of a realist-constructivist alternative to the cooperative phenomenon.
Download or read book The Case for a New Bretton Woods written by Kevin P. Gallagher and published by John Wiley & Sons. This book was released on 2021-12-07 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: After the 2008–9 global financial crisis, reforms to promote stability, social inclusion, and sustainability were promised but not delivered. As a result, the global economic situation, marred by inequality, volatility, and climate breakdown, remains dysfunctional. Now, the economic fallout from the Covid-19 pandemic offers us a second chance. Kevin Gallagher and Richard Kozul-Wright argue that we must grasp it by implementing sweeping reforms to how we govern global money, finance, and trade. Without global leaders prepared to boldly rewrite the rules to promote a prosperous, just, and sustainable post-Covid world economic order – a Bretton Woods moment for the twenty-first century – we risk being engulfed by climate chaos and political dysfunction. This book provides a blueprint for change that no one interested in the future of our planet can afford to miss.
Download or read book International Monetary Fund written by Martin A. Weiss and published by Createspace Independent Pub. This book was released on 2012-07-28 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The International Monetary Fund (IMF), conceived at the Bretton Woods conference in July 1944, is the multilateral organization focused on the international monetary system. Created in 1946 with 46 members, it has grown to include 188 countries. The IMF has six purposes that are outlined in Article I of the IMF Articles of Agreement: promoting international monetary cooperation; expanding the balanced growth of international trade; facilitating exchange rate stability; eliminating restrictions on the international flow of capital; ensuring confidence by making the general resources of the Fund temporarily available to members; and adjusting balance-of-payments imbalances in an orderly manner. Congressional interest in IMF activities has increased since the onset of the financial crisis in 2008. IMF lending has surged in recent years, particularly in light of large recent loans to Greece, Ireland, and Portugal. In 2009, major economies agreed to substantially increase the IMF's resources and to move forward on several major reforms at the institution. These include increasing the voting share of emerging economies; revamping the IMF's lending toolkit to introduce greater flexibility and create new facilities for low-income countries, and creating a road map for resolving the fast-growing economic imbalances in the global economy between surplus and deficit countries. In late 2010, IMF members agreed to a doubling of IMF quotas, which would require congressional authorization and appropriations. The United States was instrumental in creating the IMF and is its largest financial contributor, providing 17.72% of total IMF resources. Since voting shares are based on financial contributions, the large U.S. voting share provides the United States veto power over major decisions at the IMF. Both the IMF and its sister organization, the World Bank, are headquartered in Washington, DC. At the Bretton Woods conference, the IMF was tasked with coordinating the system of fixed exchange rates to help the international economy recover from two world wars and the instability in the interwar period caused by competitive devaluations and protectionist trade policies. From 1946 until 1973, the IMF managed the “par value adjustable peg” system. The U.S. dollar was fixed to gold at $35 per ounce, and all other member countries' currencies were fixed to the dollar at different rates. This system of fixed rates ended in 1973 when the United States removed itself from the gold standard. The IMF has evolved significantly as an institution since it was created. Floating exchange rates and more open capital markets in the 1990s created a new role for the IMF—the resolution of frequent and volatile international financial crises. The Asian financial crisis of 1997-1998 and subsequent crises in Russia and Latin America revealed many weaknesses of the world monetary system, which have only become more apparent in the wake of the 2008-2009 global financial crisis and the more recent sovereign debt crises in Europe. This report evaluates the purpose, membership, financing, and focus of the IMF's activities. It also discusses the role of Congress in shaping U.S. policy at the IMF and concludes by addressing key issues, both legislative and oversight-related, that Congress may wish to consider, including: the role of the IMF as a lender of last resort; the adequacy of IMF resources; and the effectiveness of IMF surveillance.
Download or read book The International Monetary Tangle written by Guillaume Guindey and published by Routledge. This book was released on 2017-07-05 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1977, The International Monetary Tangle presents a translation of Guindey‘s report on international monetary issues. Guindey examines the Bretton Woods System which lasted until 1971 as well as the new monetary regime that took its place and discusses the key debates that came along with it. Guindey takes a historical angle in this study and focuses on what lessons can be learnt from the past in terms of international money management. This title will be of interest to students of Economics.
Download or read book IMF and the Force of History written by Mr.James M. Boughton and published by International Monetary Fund. This book was released on 2014-07-14 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world and the IMF have undergone profound changes since the Bretton Woods Conference. James Boughton, former historian of the IMF, looks at key events that have shaped the IMF and the international scene. From the Paris Peace Conference in 1919 to the Great Recession, this essay focuses on 11 events in history that have influenced the design and work of the IMF, as well as the international monetary system. This booklet, prepared for the 70th anniversary of the IMF, is an excerpt from a longer essay that is available on the IMF eLibrary. It is an excellent primer on the motivation behind the founding of the IMF and the evolution of the organization.
Download or read book A Retrospective on the Bretton Woods System written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2007-12-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book International Monetary Cooperation written by C. Fred Bergsten and published by Peterson Institute for International Economics. This book was released on 2016-04-07 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: In September 1985, emissaries of the world's five leading industrial nations—the United States, Britain, France, Germany, and Japan—secretly gathered at the Plaza Hotel in New York City and unveiled an unprecedented effort to correct the largest set of current account and exchange rate imbalances that had ever threatened the world economy. The Plaza Accord is credited with sharply realigning exchange rates, significantly reducing current account imbalances, and countering protectionist pressures in the United States. But did the Accord provide a foundation for ongoing international financial stability and policy coordination? Or was it simply a unique one-time coincidence of national interests? The Plaza experience continues to inform today's debates about the limits and possibilities of international monetary cooperation. In late 2015, leading policymakers and economists—including those who were involved in the Accord's design, negotiation, and implementation—held a Plaza Retrospective conference at the Baker Institute for Public Policy to evaluate the Accord's legacy and how its collaborative spirit can be applied today. This volume presents their views and analyses to provide guidance for a time when the world again faces the prospect of currency disequilibria, growing imbalances, trade policy reactions, and thus uncertainty for both the global economy and world politics.
Download or read book Articles of Agreement 2020 written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2020-03-11 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Articles of Agreement of the International Monetary Fund were adopted at the United Nations Monetary and Financial Conference (Bretton Woods, New Hampshire) on July 22, 1944. They were originally accepted by 29 countries and since then have been signed and ratified by a total of 189 Member countries. As the charter of the organization, the Articles lay out the Fund’s purposes, which include the promotion of “international monetary cooperation through a permanent institution which provides the machinery for consultation and collaboration on international monetary problems”. The Articles also establish the mandate of the Organization and its members’ rights and obligations, its governance structure and roles of its organs, and lays out various rules of operations including those related to the conduct of its operations and transactions regarding the Special Drawing Rights. The key functions of the IMF are the surveillance of the international monetary system and the monitoring of members’ economic and financial policies, the provision of Fund resources to member countries in need, and the delivery of technical assistance and financial services. Since their adoption in 1944, the Articles of Agreement have been amended seven times, with the latest amendment adopted on December 15, 2010 (effective January 26, 2016). The Articles are complemented by the By-laws of the Fund adopted by the Board of Governors, themselves being supplemented by the Rules and Regulations adopted by the Executive Board.
Download or read book The Bretton Woods GATT System written by Orin Kirshner and published by Routledge. This book was released on 2015-07-17 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collection by founders and early leaders of the International Monetary Fund (IMF), the World Bank, and the General Agreement on Tariffs and Trade (GATT), presenting the current thinking on the past, present and future of the postwar system of international finance and trade.
Download or read book From Great Depression to Great Recession written by Mr.Atish R. Ghosh and published by International Monetary Fund. This book was released on 2017-03-30 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis and the ensuing Great Recession raised concerns about adjustment fatigue, deflation, currency wars, and secular stagnation that presented a sense of déjà vu: similar concerns had arisen at the time of the Great Depression and at the end of World War II. As with earlier crises, these concerns prompted calls for greater international policy cooperation—both to achieve a sustainable recovery from the crisis and to prevent future crises. This volume compiles papers from a 2015 symposium of eminent scholars convened by the IMF to discuss how history can inform current debates about the functioning and challenges of the international monetary system. An introductory chapter sets the stage for the other chapters in the volume by giving a broad overview of the performance of the international monetary system over the past century, highlighting the key events and challenges that shaped it. Subsequent sections look at historical antecedents of today’s challenges, describe how the modern international monetary system has been—and continues to be—shaped through international financial diplomacy, provide a present-day perspective, and examine the analytics of international policy coordination.
