Smooth sailing or rough waters ahead: a symposium on reforming the international financial architecture

The collapse of the Bretton Woods system marked the end of almost three decades of comparative global stability and growth in which currency crises were few and far between, though not entirely absent. Its collapse has dramatically changed the way in which international Currency markets operate. In...

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Bibliographic Details
Published inJournal of post Keynesian economics Vol. 26; no. 4; pp. 551 - 555
Main Authors GNOS, CLAUDE, ROCHON, LOUIS-PHILIPPE
Format Journal Article
LanguageEnglish
Published Abingdon Routledge 01.07.2004
M. E. Sharpe
M.E. Sharpe, Inc
Taylor & Francis Ltd
SeriesJournal of Post Keynesian Economics
Subjects
American dollar
Currencies
Currency
Disadvantages
Dollar standard
Dollarization
Economic globalization
Economic growth
Economic policy
Economic recessions
Economics
Financial economics
International economics
International finance
Keynesianism
Post Keynesian economics
Studies
United States > US
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Summary:The collapse of the Bretton Woods system marked the end of almost three decades of comparative global stability and growth in which currency crises were few and far between, though not entirely absent. Its collapse has dramatically changed the way in which international Currency markets operate. In the post-Bretton Woods era, the U.S. dollar has increasingly become the international reserve currency , and the Current international financial structure has evolved around the hegemonic role of the U.S. dollar. Around the globe, countries must compete for U.S. imports as a way of accumulating U.S. dollar reserves and exported policies are now favored, above all others, as the way to foster growth.
ISSN:0160-3477
1557-7821
DOI:10.1080/01603477.2004.11051417