The Evolution of the International Monetary Fund
There are several ways in which one can judge what the Fund has accomplished. The first is to see how the world economy has fared under the Bretton Woods system. There has been an unprecedented growth of international trade and investment; and the world has been very prosperous, at least in the large industrial countries. Without directly attributing this to the Fund, we can imply that it could not have occurred without Bretton Woods — which maybe true to a limited extent.
KeywordsExchange Rate Central Bank Monetary Authority Credit Policy International Monetary System
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