The spread of currency convertibility is one of the most dramatic
trends of the late twentieth century. It reflects the desire of
policymakers to integrate their economies into the global trading
system and to attract financial capital and direct investment from
abroad. In this book a team of leading international economists and
economic historians look at parallel situations in the history of
the international monetary system, focusing in particular on the
gold standard. The concluding chapter uses a case study of modern
Portugal to draw out implications for modern international monetary
relations in Europe and for the rest of the world.
General
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