Using National Currencies in International Trade: The Case for Fixed Exchange Rates

Basil John Moore

Chapter 17 in Shaking the Invisible Hand, 2006, pp 385-408 from Palgrave Macmillan

Abstract: Abstract Although international trade is conducted under different types of trading regimes, most countries continue to use their own national currencies in international transactions. Profound changes were introduced into the postwar world when the Bretton Woods fixed-but-adjustable exchange rate regime broke down in the early 1970s and the trading system evolved into a flexible exchange rate regime. The current flexible exchange system was not adopted volitionally. It was forced on countries by the inability to maintain fixed exchange rates under Bretton Woods.

Keywords: Exchange Rate; Gross Domestic Product; Current Account; Capital Good; Exchange Rate Regime (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-51213-9_17

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DOI: 10.1057/9780230512139_17

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