國際政治經(jīng)濟(jì)學(xué)中的貨幣與金融體系(ppt25)-wenkub
2023-02-11 14:21:58 本頁面
【正文】 uals and firms need for the purpose to buy and sell and to save and invest. The international moary system The international moary system is the “ Great Wheel” that enables goods to move in international trade, the international financial system is the grease that allows the wheel itself to turn. Four well functioning international moary and financial systems: 1. 1820—1914: classical gold standard system (many major national currencies were tied to gold at a legally fixed rate.) actually a goldsterling standard system. The world financial system was dominated by British banks, which financed much of world trade and channeled international investment to USA, AUS, South Africa, etc. 2. 1914—1945: gold exchange standard system (most countries went back to tying their currencies to gold but no single national currency came to dominate the others) to the system crashed down in the Great Depression(大蕭條 ). Four well functioning international moary and financial systems: 3. 1945—1975： golddollar standard system (Bretton Woods moary system) 1 American dollar tied to gold at the rate of 35 dollars an ounce, other Western currencies tied to the dollar. In August 1971, President Nixon “ closed the gold window” , dollar was devalued, by 1975 4. 1975— Floating – rate system (the value of most currencies is set by private traders in world currency markets.) the values of the dollar, the yen, the pound, and so on fluctuate on international currency markets which causes the moary uncertainty. Three solutions to moary uncertainty * development of a new international money。 1/3 fdi. CROSS—Border transactions in stocks and bonds: 200% of GDP in US and Germany and 300% in France and Canada. 1980s 10% in major industrial countries. Short – financial “Derivatives”(金融衍伸產(chǎn)品
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