The Bretton Woods Agreement and historical evidence. The post-war international financial system

Samuel Kilsztajn ()

Brazilian Journal of Political Economy, 1989, vol. 9, issue 4, 538-550

Abstract: The Bretton Woods Agreement reflected the United States’ hegemony in thepostwar period and the dollar was linked to the commodity that has historically representedinternational money – gold. Nevertheless, the other developed countries could not allowcurrency convertibility until 1958 and in 1960 the dollar crisis was already evident. Fromthe “dollar shortage” to the dollar crisis, Bretton Woods was in fact only a mirage. The mostsignificant aspect of the dollar crisis was certainly the development of the Euromoney market.At the present time, with the “gold standard”, on one hand, and projects for an artificialcurrency, on the other, the international monetary system is evolving toward an oligopolarsystem. JEL Classification: N20; N10.

Keywords: Economic history; international financial system; Bretton Woods (search for similar items in EconPapers)
Date: 1989
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