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Shaping the Fund’s Policy for Exchange Liberalization

  • Teru Nishikawa
Part of the Studies in Economic History book series (SEH)

Abstract

The transition of the Western Europeans to Article VIII status in 1961 was the end of the postwar transitional period. The 1950s was the period when major countries gradually attained stability of their exchange rates against the U.S. dollar and exchange liberalization; in other words, the gap between the U.S. as an outstanding creditor and Europeans—the dollar shortage—disappeared. As the supply of dollars became excessive in the late 1950s, the stability of the international monetary system was gradually undermined and the world entered into the decade of a dollar crisis.

Keywords

International Monetary Fund Current Account Full Employment Capital Movement Major Country 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Japan 2015

Authors and Affiliations

  1. 1.Faculty of International Social SciencesYokohama National UniversityYokohamaJapan

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