International Money Flows and Currency Crises is popular PDF and ePub book, written by Istvan Gyongyossy in 2013-06-29, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, International Money Flows and Currency Crises can be Read Online from any device for your convenience.
International Money Flows and Currency Crises Book PDF Summary
The author had already become involved with the subject of this book when President Nixon suspended the convertibility of the dollar on August 15, 1971. This declaration was equivalent to an official admission of the previously evident failure of the inter national monetary system established in Bretton Woods after long and difficult negotiations. Although the real reasons for this failure are much deeper and more complex, the immediate cause was the tremendous outjlow of money from the United States to Europe and Japan. Never before had economic history recorded a currency movement of such magnitude, although during the periods preceding the devaluation of the French franc and the re valuation of the Deutsche Mark (Le. , by the end of 1968 and mostly in 1969), and particularly at the beginning of 1971, the in ternational flow of money grew to such huge proportions as to alm ost traumatize the economic and financial circles of developed capitalist countries. These economic and financial circles correctly foresaw that the ever growing and hardly controllable volume of currency flow could seriously endanger the already precarious balance of the international financial system and perhaps even upset it. This brief analysis, in contrast to many other predictions of cur rency developments, holds true for a longer period as well.
Detail Book of International Money Flows and Currency Crises PDF
- Author : Istvan Gyongyossy
- Release : 29 June 2013
- Publisher : Springer Science & Business Media
- ISBN : 9789401719476
- Genre : Business & Economics
- Total Page : 159 pages
- Language : English
- PDF File Size : 21,6 Mb
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