Rocky Mountain Chocolate Factory Preparing Financial Statements
The Postwar Political Economy: Institutions and Growth * The first post-war period (1945-1975) witnessed strong economic growth and gradual increase in globalization under the Bretton Woods institutions. What do we mean by “the Bretton Woods institutions” (Background Brief: Bretton Woods Institutions)? What role did the US play in setting up these institutions and what were its motives?
The Bretton Woods Institutions take their name from a multilateral conference held in July 1944 at the Bretton Woods resort in New Hampshire. The narrow definition of Bretton Woods Institutions refer to the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD), while they were only part of a much broader wave of international institutional innovation, including the World Bank Group, GATT, other multilateral development banks, UN, and other multilateral international organizations.
Bretton Woods System was to create a multilateral institutional framework to avoid the inter-states conflicts of the interwar years. It was also to assist in the reconstruction of a new international economic order after WWII. It was a collectively goods, a majority of which was provided by the US, to restore and secure a new world order. US played core role in the establishment, maintenance and development of the whole system. The primary motives include: 1. US believed the Bretton Woods System could help extend its allies front, and help restore the old Europe under massive destruction of WWII. 2. Bretton Woods System, as it took multilateralism as core principle, would be idealistic to settle down inter-states disputes and avoid a new world war. 3. Bretton Woods System would help coordinate collective action of member parties and prevent massive worldwide economic depression. * Since the Global Financial Crisis (2008-2009), what are the most important changes that have occurred to the global system?
Generally speaking, the world
The Bretton Woods Institutions take their name from a multilateral conference held in July 1944 at the Bretton Woods resort in New Hampshire. The narrow definition of Bretton Woods Institutions refer to the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD), while they were only part of a much broader wave of international institutional innovation, including the World Bank Group, GATT, other multilateral development banks, UN, and other multilateral international organizations.
Bretton Woods System was to create a multilateral institutional framework to avoid the inter-states conflicts of the interwar years. It was also to assist in the reconstruction of a new international economic order after WWII. It was a collectively goods, a majority of which was provided by the US, to restore and secure a new world order. US played core role in the establishment, maintenance and development of the whole system. The primary motives include: 1. US believed the Bretton Woods System could help extend its allies front, and help restore the old Europe under massive destruction of WWII. 2. Bretton Woods System, as it took multilateralism as core principle, would be idealistic to settle down inter-states disputes and avoid a new world war. 3. Bretton Woods System would help coordinate collective action of member parties and prevent massive worldwide economic depression. * Since the Global Financial Crisis (2008-2009), what are the most important changes that have occurred to the global system?
Generally speaking, the world