Global imbalances and lessons of Bretton Woods
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In his book "Global imbalances and lessons of Bretton Woods" Barry Eichengrin disputes the statements that today"s financial system is largely similar to the Bretton Wood system of 1958-1973. Among the arguments, in favor of these statements, it is indicated that then, as now, the United States had deficiency of payment balance, provided international reserves to other countries and acted as the export market of the last instance for the whole world. Then, as now, other countries did not want to overestimate their currencies out of fear of slowing down their growth export and possible losses in international reserves. Eichengrin claims that the effectiveness of historical analogy lies not only in finding parallels, but also in pointing attention to differences, and indicates important differences in the structure of the world economy today. He concludes that the current structure of foreign exchange rates and payment imbalances is unlikely to remain as long as the original Bretton Wood system
Author:
Author:Eichengorin B.
Cover:
Cover:Soft
Category:
- Category:Business & Money
Publication language:
Publication Language:Russian
Series:
Series:-
Age restrictions:
Age restrictions:18+
ISBN:
ISBN:978-5-93255-506-4
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