International Financial History in the Twentieth Century: System and Anarchy

Marc Flandreau (), Carl-Ludwig Holtfrerich and Harold Douglas James
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Marc Flandreau: Sciences Po - Sciences Po, GEM - Groupe d'économie mondiale - Sciences Po - Sciences Po, Centre for Finance and Development - GRADUATE INSTITUTE OF INTERNATIONAL AND DEVELOPMENT STUDIES
Harold Douglas James: Princeton University

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Abstract: The essays, written by leading experts, examine the history of the international financial system in terms of the debate about globalization and its limits. In the nineteenth century, international markets existed without international institutions. A response to the problems of capital flows came in the form of attempts to regulate national capital markets (for instance through the establishment of central banks). In the inter-war years, there were (largely unsuccessful) attempts at designing a genuine international trade and monetary system; and at the same time (coincidentally) the system collapsed. In the post-1945 era, the intended design effort was infinitely more successful. The development of large international capital markets since the 1960s, however, increasingly frustrated attempts at international control. The emphasis has shifted in consequence to debates about increasing the transparency and effectiveness of markets; but these are exactly the issues that already dominated the nineteenth-century discussions. (Publisher's abstract)

Keywords: International Monetary System; Economic Liberalism; Monetary Policy (search for similar items in EconPapers)
Date: 2003
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Published in Marc Flandreau; Carl-Ludwig Holtfrerich; Harold Douglas James. Cambridge University Press, pp.278, 2003, Publications of the German historical institute, 9780521819954. ⟨10.1017/CBO9781139052375⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03416725

DOI: 10.1017/CBO9781139052375

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