【学习笔记】International Finance 国际金融论研究学习笔记-6

Part I

Basics ofInternational Finance --6

Ch2 --3

InternationalMonetary System

Evolution of theInternational Monetary System --4

(3)InterwarPeriod: 1915-1944

（①）      Exchangerates fluctuated as countries widely used “predatory” depreciations of theircurrencies as a means of gaining advantage in the world export market.

（②）      Attemptswere made to restore the gold standard, but participants lacked the politicalwill to “follow the rules of the game.”

（③）      Theresult for international trade and investment was profoundly detrimental.

Evolution of theInternational Monetary System --5

(4) Bretton Woods System: 1945-1972

（①）     Named for a 1944meeting of 44 nations at Bretton Woods, New Hampshire.

（②）     The purpose was todesign a postwar international monetary system.

（③）     The goal wasexchange rate stability without the gold standard.

（④）     The result was thecreation of the IMF and the World Bank.