University of Ljubljana: International Finance
University of Ljubljana: International Finance
University of Ljubljana: International Finance
FACULTY OF ECONOMICS
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UNIVERSITY OF LJUBLJANA
FACULTY OF ECONOMICS
purpose:
analysis of the forms of international monetary system in the period until World War II
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economic agents need to be confident that the country will follow both rules of the game
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UNIVERSITY OF LJUBLJANA
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Surplus in the US balanceIncrease in US exports, fall in US imports of-payments, accompanied by net gold inflow fro m abroad Increase in the supply of money in the USA Increase in the US prices Increase in foreign exports, fall in imports Fall in the foreign supply of money Fall in foreign prices
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FACULTY OF ECONOMICS
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extremely negative effects of the lack of agreement on the functioning of the international monetary system three trials of establishment:
Conference in Genova (1922) negotiations in 1933 three-party agreement between the USA, Great Britain and France (1936)
International Finance Mojmir Mrak Page 12
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trade wars, international trade cut almost in half less international provision of credit and investment
International Finance Mojmir Mrak Page 18
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FACULTY OF ECONOMICS
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UNIVERSITY OF LJUBLJANA
FACULTY OF ECONOMICS
Assessment of the Functioning of the International Monetary System During the Interwar Period
period without a consistent international monetary system with extremely negative consequences on the size of the international trade and investment:
lack of cooperation and agreement about the organization of the international monetary system has extremely negative consequences on the world economy as a whole, as well as individual countries as its components modified relationship between internal and external economic policy goals caused a significant change in international capital flows characteristics lack of willingness for cooperation in the interwar period was also a consequence of a change in the world financial center
International Finance Mojmir Mrak
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