IDSA01H3 Lecture Notes - Lecture 5: Bretton Woods Conference, General Agreement On Tariffs And Trade, World Trade Organization
2 Apr 2018
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Document Summary
Includes material from readings, lectures and tutorial discussions. In the west the interventionist policy post ww2 resulted in high rate of growth and productivity. Led to the formation of imf, world bank, gatt/wto. Imf was established to manage financial crises in developed countries. It was to ensure that countries do not unfairly undervalue their exchange rate to enhance their competitiveness. This led to all currencies being pegged to the us dollar, the gold standard problem was that not all countries could borrow or lend the same amount of money. This is because borrowing capability was linked to power and that was linked to the amount of money that the country countributed to imf. World bank was set up to finance reconstruction of europe after the war. After this, it"s goal was to extend loans for development for the poor. It produces knowledge, produces policy, produces advice on what countries should do or should not do.
