The International Monetary System in the (Very) Long Run

Nathan Sussman and Barry Eichengreen

No 2000/043, IMF Working Papers from International Monetary Fund

Abstract: This paper takes stock of the evolution of the international monetary system over the last thousand years. Several points stand out from the analysis. One is the reluctance of governments to embrace radical changes in international monetary relations. Another is the conflict between external and domestic objectives over the cycle, which has been a source of significant tension in the industrial core through much of this century, is now becoming a significant issue for developing countries. Finally, recent developments represent a return to the more market-driven international monetary system that characterized the better part of the preceeding millennium.

Keywords: WP; unit of account; central bank; gold standard; rate of exchange; monetary system; International monetary system; globalization; money; paper money; commodity money; monetary standard; price level; Gold; Silver; Currencies; Exchange rates; Europe; Western Europe (search for similar items in EconPapers)
Pages: 55
Date: 2000-03-01
References: Add references at CitEc
Citations: View citations in EconPapers (16)

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=3466 (application/pdf)

Related works:
Chapter: The International Monetary System in the (Very) Long Run (2024)
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:imf:imfwpa:2000/043

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Working Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().