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Author: C. Fred Bergsten Publisher: Peterson Institute for International Economics ISBN: 0881327123 Category : Political Science Languages : en Pages : 312
Book Description
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.
Author: C. Fred Bergsten Publisher: Peterson Institute for International Economics ISBN: 0881327123 Category : Political Science Languages : en Pages : 312
Book Description
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.
Author: C. Fred Bergsten Publisher: Peterson Institute for International Economics ISBN: 9780881327113 Category : Devaluation of currency Languages : en Pages : 312
Book Description
The issue of countries artificially manipulating the value of their currencies is at the center of most debates about trade in the United States today. Critics of liberalizing trade have charged, for example, that China has suppressed the value of its currency in order to make its exports cheaper and imports more expensive. Thirty years ago, however, the Reagan administration confronted Japan with the same accusation. Then in a secret meeting in 1985, finance ministers from the United States, Japan and three other major economies in the world gathered in New York City at the Plaza Hotel in an effort to resolve a crisis caused by that criticism. The Plaza Accord coordinated exchange rates among the countries present, in turn depreciating the dollar and restoring some equity to the global market. Was that meeting a success? Or did it usher in 30 years of tensions that have hurt, rather than helped, the cause of improved trade? In late 2015, policymakers and academics held a Plaza Retrospective conference in Houston to evaluate the accord's successes and drawbacks, and how its collaborative spirit can be applied to today's increasingly integrated world economy. This volume, with contributions by former Treasury Secretary James A. Baker III and former Federal Reserve chairman Paul A. Volcker, presents their analyses.--
Author: Barry J. Eichengreen Publisher: NBER Series on Long-term Factors in Economic Development ISBN: 9780195101133 Category : Business & Economics Languages : en Pages : 484
Book Description
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.
Author: Eduard Brau Publisher: Springer ISBN: 0230239498 Category : Business & Economics Languages : en Pages : 246
Book Description
This book provides a definitive account of the recent history of the International Monetary Fund, and the successes it has enjoyed since it was founded. With fascinating contributions by current and former IMF staff members, this book offers a unique insight into the workings of the organization and explores how it has benefited many.
Author: José Antonio Ocampo Publisher: Oxford University Press ISBN: 019871811X Category : Business & Economics Languages : en Pages : 296
Book Description
Annotation 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.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1451955251 Category : Business & Economics Languages : en Pages : 683
Book Description
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.
Author: Mr.Harold James Publisher: International Monetary Fund ISBN: 1475506961 Category : Business & Economics Languages : en Pages : 780
Book Description
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.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1451962924 Category : Business & Economics Languages : en Pages : 652
Book Description
This paper discusses the history of the first 20 years of the IMF. It attempts to recount objectively what were its origins and what have been its plans and activities. The paper contains a chronological account of the evolution of the IMF from the original plans formulated in 1941 to the end of 1965, with a supplementary chapter summarizing subsequent events. It analyzes the IMF’s policies in three major fields and reviews its constitutional development.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1451972512 Category : Business & Economics Languages : en Pages : 572
Book Description
This paper comprises documents relating to the history of the IMF, including some that preceded the drafting of the Articles of Agreement. The paper highlights that the first draft of Lord Keynes’ plan for a Clearing Union was circulated within the British Treasury on September 8, 1941. A fourth draft was given to Ministers on February 11, 1942. The first definitive version of Mr. White’s plan for a stabilization fund was a mimeographed draft dated April 1942. This covered both the IMF and the World Bank.
Author: C. Fred Bergsten 
Author: C. Fred Bergsten 
Author: C. Fred Bergsten
Author: Barry J. Eichengreen
Author: Brian Tew
Author: Eduard Brau
Author: José Antonio Ocampo
Author: International Monetary Fund
Author: Mr.Harold James
Author: International Monetary Fund
Author: International Monetary Fund