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Shaping the Fund’s Policy for Exchange Liberalization

In: History of the IMF

Author

Listed:
  • Teru Nishikawa

    (Yokohama National University)

Abstract

The transition of the Western Europeans to Article VIII status in 1961 was the end of the postwar transitional period. The 1950s was the period when major countries gradually attained stability of their exchange rates against the U.S. dollar and exchange liberalization; in other words, the gap between the U.S. as an outstanding creditor and Europeans—the dollar shortage—disappeared. As the supply of dollars became excessive in the late 1950s, the stability of the international monetary system was gradually undermined and the world entered into the decade of a dollar crisis.

Suggested Citation

  • Teru Nishikawa, 2015. "Shaping the Fund’s Policy for Exchange Liberalization," Studies in Economic History, in: Kazuhiko Yago & Yoshio Asai & Masanao Itoh (ed.), History of the IMF, edition 127, chapter 0, pages 47-66, Springer.
    • Handle: RePEc:spr:stechp:978-4-431-55351-9_3
    DOI: 10.1007/978-4-431-55351-9_3
    as

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