Trade Policy and International Finance in the Bretton Woods Era: a Doctrinal Perspective with Reference to Australia and New Zealand

Anthony M. Endres and Alan J. Rogers

History of Economics Review, 2014, vol. 59, issue 1, 62-81

Abstract: The Bretton Woods system embodied a self-imposed liquidity constraint. Trade policy was subordinated to the maintenance of official foreign reserves used to defend fixed exchange rates. In Australia and New Zealand, reserves were considered a form of national self-insurance against the instability of export receipts and the liquidity problem was often referred to as the ‘foreign exchange constraint’ – as if it were exogenously given rather than the result of certain policies, and it reinforced inward-looking trade policies. International financial arrangements, including severe restrictions on cross-border capital flows, delimited thought and action in connection with Australian and New Zealand trade policy.

Date: 2014
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/18386318.2014.11681256 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:rherxx:v:59:y:2014:i:1:p:62-81

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rher20

DOI: 10.1080/18386318.2014.11681256

Access Statistics for this article

History of Economics Review is currently edited by John Harry Bloch and John Hawkins

More articles in History of Economics Review from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().