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Lessons from the 1970s for international monetary reform

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  • Barry Eichengreen

Abstract

The collapse of the Bretton Woods System in 1971–3 led to ambitious efforts to reform the international monetary system, mainly through the deliberations of the Committee of Twenty (C-20). Many of the issues considered by the C-20 will be familiar to aficionados of twenty-first century discussions of international monetary reform. Ultimately, attempts to reach a consensus in the C-20 were unsuccessful. This paper seeks to identify explanations for that failure in an effort to limit the likelihood that it will be repeated.

Suggested Citation

  • Barry Eichengreen, 2023. "Lessons from the 1970s for international monetary reform," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 39(2), pages 183-194.
    • Handle: RePEc:oup:oxford:v:39:y:2023:i:2:p:183-194.
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    File URL: http://hdl.handle.net/10.1093/oxrep/grad001
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    Cited by:

    1. Daniel Susskind & David Vines, 2024. "Global economic order and global economic governance," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 40(2), pages 189-219.

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