Lessons from the 1970s for international monetary reform

Barry Eichengreen

Oxford Review of Economic Policy, 2023, vol. 39, issue 2, 183-194

Abstract: The collapse of the Bretton Woods System in 1971–3 led to ambitious efforts to reform the international monetary system, mainly through the deliberations of the Committee of Twenty (C-20). Many of the issues considered by the C-20 will be familiar to aficionados of twenty-first century discussions of international monetary reform. Ultimately, attempts to reach a consensus in the C-20 were unsuccessful. This paper seeks to identify explanations for that failure in an effort to limit the likelihood that it will be repeated.

Keywords: Bretton Woods; exchange rates; international monetary reform; F3; F33 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:oup:oxford:v:39:y:2023:i:2:p:183-194.

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