Bretton Woods system  

From The Art and Popular Culture Encyclopedia

Jump to: navigation, search

Related e

Wikipedia
Wiktionary
Shop


Featured:

Kunstformen der Natur (1904) by Ernst Haeckel
Enlarge
Kunstformen der Natur (1904) by Ernst Haeckel

The Bretton Woods system of monetary management established the rules for commercial and financial relations among the United States, Canada, Western Europe, Australia, and Japan after the 1944 Bretton-Woods Agreement. The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent states. The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained the exchange rate (± 1 percent) by tying its currency to gold and the ability of the IMF to bridge temporary imbalances of payments. Also, there was a need to address the lack of cooperation among other countries and to prevent competitive devaluation of the currencies as well.

See also

General:




Unless indicated otherwise, the text in this article is either based on Wikipedia article "Bretton Woods system" or another language Wikipedia page thereof used under the terms of the GNU Free Documentation License; or on original research by Jahsonic and friends. See Art and Popular Culture's copyright notice.

Personal tools