Scribd Logo
Upload

Welcome to Scribd!

  • The Bretton Woods System Batula

    Uploaded by

    Jestia Lyn Engracial
    8 views1 page
    The major economies suffered greatly from World War I, the Great Depression, and World War II, leading to the establishment of the Bretton Woods system to reduce barriers to trade and free flow of capital between nations to ensure global financial stability and cooperation. The Bretton Woods system aimed to achieve exchange rate stability and promote economic growth through expressing currencies in terms of gold, agreeing to exchange currencies, establishing the IMF, eliminating currency restrictions, and making the US dollar the global currency.

    Original Description:

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The major economies suffered greatly from World War I, the Great Depression, and World War II, leading to the establishment of the Bretton Woods system to reduce barriers to trade and free flow of capital between nations to ensure global financial stability and cooperation. The Bretton Woods system aimed to achieve exchange rate stability and promote economic growth through expressing currencies in terms of gold, agreeing to exchange currencies, establishing the IMF, eliminating currency restrictions, and making the US dollar the global currency.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    8 views1 page

    The Bretton Woods System Batula

    Uploaded by

    Jestia Lyn Engracial
    The major economies suffered greatly from World War I, the Great Depression, and World War II, leading to the establishment of the Bretton Woods system to reduce barriers to trade and free flow of capital between nations to ensure global financial stability and cooperation. The Bretton Woods system aimed to achieve exchange rate stability and promote economic growth through expressing currencies in terms of gold, agreeing to exchange currencies, establishing the IMF, eliminating currency restrictions, and making the US dollar the global currency.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    The Bretton Woods System

    The major economies in the world had suffered because of World War I, the
    Great Depression in the 1930s, and World War II. Because of the fear of the
    recurrence of lack of cooperation among nation-states, political instability, and
    economic turmoil (especially after the Second World War), reduction of barriers
    to trade and free flow of money among nations became the focus to restructure
    the world economy and ensure global financial stability (Ritzer, 2015). These
    consist the background for the establishment of the Bretton Woods system.

    Objectives of Bretton Woods System


    1. Achieve exchange rate stability
    2. Promote economic growth

    Five key elements of Bretton Woods System

    1. The expression of currency in terms of gold


    2. Agreement to Exchange Currencies
    3. Establishment of the International Monetary Fund (IMF)
    4. Elimination of Currency Restrictions
    5. US Dollar as Global Currency

    You might also like