Professional Documents
Culture Documents
Market Integration Part Ii
Market Integration Part Ii
INTEGRATION PART II
PRODUCTION SECTORS
•Primary
•Secondary
•Tertiary
INTERNATIONAL FINANCIAL
INSTITUTIONS AND ECONOMIC
ORGANIZATIONS
1. BRETTON WOODS SYSTEM
• expression of currency in terms of gold or gold value
• official monetary authority in each country (e.g. central bank)
• overseer for exchange rates (International Monetary Fund)
• eliminating restrictions on the currencies of member states in the
international trade
• US dollar as the global currency
2. The General Agreement on Tariffs and Trade
(GATT) and the World Trade Organization
(WTO)