Private International Finance

Lawrence Krause

International Organization, 1971, vol. 25, issue 3, 523-540

Abstract: The major international economic institutions established after World War II, such as the International Monetary Fund (IMF) and the General Agreement on Tariffs and Trade (GATT), had the economic disintegration of the Great Depression as their historical heritage. The lessons learned from that experience were twofold: National governments can and should take an active role in achieving national economic stabilization objectives, and one state's economic policies can and often will work at cross-purposes with those of another. The role of international institutions in such circumstances is to harmonize national policies so that international conflict is avoided.

Date: 1971
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