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Globalizing Capita: lA History of the International Monetary System : 2nd edition, 2008  - Barry Eichengreen

Globalizing Capita: lA History of the International Monetary System

2nd edition, 2008

Paperback Published: 15th September 2008
ISBN: 9780691139371
Number Of Pages: 265

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First published more than a decade ago, "Globalizing Capital" remains an indispensable part of the economic literature today. Written by renowned economist Barry Eichengreen, this classic book emphasizes the importance of the international monetary system for understanding the international economy. Brief and lucid, "Globalizing Capital" is intended not only for economists, but also a general audience of historians, political scientists, professionals in government and business, and anyone with a broad interest in international relations. Eichengreen demonstrates that the international monetary system can be understood and effectively governed only if it is seen as a historical phenomenon extending from the period of the gold standard to today's world of fluctuating prices. This updated edition continues to document the effect of floating exchange rates and contains a new chapter on the Asian financial crisis, the advent of the euro, the future of the dollar, and related topics. "Globalizing Capital" shows how these and other recent developments can be put in perspective only once their political and historical contexts are understood.

Industry Reviews

Praise for the first edition: "This book by a prominent historian is a succinct and well-written history of the international monetary system... [It] provides useful historical background for understanding current European efforts to create a monetary union."--Richard N. Cooper, Foreign Affairs Praise for the first edition: "Capital flows in the recent period, unlike those in the earlier one, proved to be incompatible with exchange rate stability. [Eichengreen's] reasons for the difference ... constitute a unique insight and contribution."--Choice

Prefacep. vii
Introductionp. 1
The Gold Standardp. 6
Prehistoryp. 7
The Dilemmas of Bimetallismp. 8
The Lure of Bimetallismp. 12
The Advent of the Gold Standardp. 15
Shades of Goldp. 19
How the Gold Standard Workedp. 24
The Gold Standard as a Historically Specific Institutionp. 29
International Solidarityp. 32
The Gold Standard and the Lender of Last Resortp. 34
Instability at the Peripheryp. 37
The Stability of the Systemp. 41
Interwar Instabilityp. 43
Chronologyp. 44
Experience with Floating: The Controversial Case of the Francp. 49
Reconstructing the Gold Standardp. 55
The New Gold Standardp. 59
Problems of the New Gold Standardp. 61
The Pattern of International Paymentsp. 66
Responses to the Great Depressionp. 70
Banking Crises and Their Managementp. 73
Disintegration of the Gold Standardp. 75
Sterling's Crisisp. 78
The Dollar Followsp. 83
Managed Floatingp. 86
Conclusionsp. 89
The Bretton Woods Systemp. 91
Wartime Planning and Its Consequencesp. 94
The Sterling Crisis and the Realignment of European Currenciesp. 100
The European Payments Unionp. 104
Payments Problems and Selective Controlsp. 107
Convertibility: Problems and Progressp. 111
Special Drawing Rightsp. 115
Declining Controls and Rising Rigidityp. 118
The Battle for Sterlingp. 123
The Crisis of the Dollarp. 126
The Lessons of Bretton Woodsp. 132
After Bretton Woodsp. 134
Floating Exchange Rates in the 1970sp. 136
Floating Exchange Rates in the 1980sp. 142
The Snakep. 149
The European Monetary Systemp. 157
Renewed Impetus for Integrationp. 164
Europe's Crisisp. 168
Understanding the Crisisp. 172
The Experience of Developing Countriesp. 178
Conclusionsp. 183
A Brave New Monetary Worldp. 185
The Asian Crisisp. 192
Emerging Instabilityp. 198
Global Imbalancesp. 210
The Europ. 219
International Currency Competitionp. 225
Conclusionp. 228
Glossaryp. 233
Referencesp. 241
Indexp. 259
Table of Contents provided by Ingram. All Rights Reserved.

ISBN: 9780691139371
ISBN-10: 0691139377
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 265
Published: 15th September 2008
Country of Publication: US
Dimensions (cm): 23.5 x 15.24  x 1.91
Weight (kg): 0.4
Edition Number: 2
Edition Type: Revised

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