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International Liquidity and the Reform of the Adjustment Mechanism

In: International Economic Relations

Author

Listed:
  • Tibor Scitovsky

    (O.E.C.D.)

Abstract

Payments adjustment and the role of international reserves in facilitating it raise some of the major unsolved economic problems of our day. They can be approached from a number of points of view and at many levels. I propose to stay at the simplest level and discuss the basic aspects of the problem, partly because these are often overlooked in the heat of discussion over the finer points of detail, and partly also because the slow administrative procedures of an international and multilingual congress like the present leave me no other choice. I am forced to write this in the midst of the March gold crisis for delivery half a year later; only by concentrating on the eternal verities of the subject can I hope not to be overtaken by events.

Suggested Citation

  • Tibor Scitovsky, 1969. "International Liquidity and the Reform of the Adjustment Mechanism," International Economic Association Series, in: Paul A. Samuelson (ed.), International Economic Relations, pages 241-254, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-00767-7_28
    DOI: 10.1007/978-1-349-00767-7_28
    as

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