L'ordre monétaire et financier en 1987

The monetary and financial order is dominated by interstate organizations and by the United States dollar. In countries with a market economy, money performs all the functions of a unit of account, an instrument of exchange, a store of value and even social power. In countries with planned economies, money plays a more limited role, given the principle of planning. The history of the world economic order since 1945 is closely associated with changes in the role of the dollar as an international currency (fixed exchange rates, fluctuating exchange rates, "benign neglect", Eurodollars, speculative expectations) and thus with the policy of the Federal Reserve Bank. The International Monetary Fund also exercises information, rebalancing and assistance functions, in line with American recommendations. The World Bank and the Bank for International Settlements complement these activities. In the socialist space, COMECON, the International Bank for Economic Cooperation (BICE) and the International Investment Bank (IIB) facilitate trade between countries of the same political bloc.