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Bretton Woods and the legalization of international monetary affairs - Bretton Woods e la legalizzazione delle questioni monetarie internazionali

Author

Listed:
  • Gazzo, Fabrizio

    (Università di Genova, Dipartimento di Scienze Politiche)

  • Seghezza, Elena

    (Università di Genova, Dipartimento di Economia e Metodi Quantitativi)

Abstract

The Bretton Woods Agreement once again enabled states to use an international money. The traditional interpretations of this Agreement emphasize the extreme discontinuity between the period after the Second World War and the interwar period. Some interpretations insist on the fact that after the Second World War, unlike what happened in the 1920s and 1930s, states continued to behave in a cooperative manner. Other interpretations ascribe the drawing up of the Bretton Woods Agreement to the presence of a hegemonic country. These interpretations neglect the fact that different types of money are associated with different ways of protecting money holders’ claim. This causes these interpretations to emphasize only the discontinuity between the Gold Exchange Standard and the monetary system based on the Bretton Woods Agreements, and to miss the continuities. - Gli accordi di Bretton Woods hanno consentito agli stati di avere una moneta internazionale. Le interpretazioni tradizionali di questo accordo sottolineano l’estrema discontinuità tra il periodo immediatamente successivo alla seconda guerra mondiale e il periodo tra le due guerre. Alcune interpretazioni insistono sul fatto che dopo la seconda guerra mondiale, a differenza di quanto accaduto negli anni ‘20 e ‘30, gli stati si comportarono in modo cooperativo. Altre interpretazioni attribuiscono la stesura degli accordi di Bretton Woods alla presenza di un paese egemone. Queste interpretazioni trascurano il fatto che diversi tipi di moneta sono associati a diversi modi di proteggere i diritti dei detentori della moneta. Questo fa sì che queste interpretazioni enfatizzino solo le discontinuità tra il gold-exchange standard e il sistema monetario basato sugli accordi di Bretton Woods, e non ne considerino le continuità.

Suggested Citation

  • Gazzo, Fabrizio & Seghezza, Elena, 2012. "Bretton Woods and the legalization of international monetary affairs - Bretton Woods e la legalizzazione delle questioni monetarie internazionali," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 65(3), pages 415-446.
  • Handle: RePEc:ris:ecoint:0661
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    More about this item

    Keywords

    Bretton Woods; Gold-Exchange Standard; Continuities and Discontinuities;
    All these keywords.

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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