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The Need for International Reserves and Credit Facilities

  • Book
  • © 1977

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Authors:
  1. J. A. H. Beaufort Wijnholds
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Table of contents (13 chapters)

  1. Front Matter

    Pages i-xi
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  2. Introduction

    1. Introduction

      • J. A. H. de Beaufort Wijnholds
      Pages 1-3

  3. Historical survey

    1. Front Matter

      Pages 5-5
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    2. Views on monetary reserves before 1914

      • J. A. H. de Beaufort Wijnholds
      Pages 7-18

    3. The interwar period

      • J. A. H. de Beaufort Wijnholds
      Pages 19-31

    4. The Second World War and Bretton Woods

      • J. A. H. de Beaufort Wijnholds
      Pages 32-39

    5. Post-war developments: 1945–1960

      • J. A. H. de Beaufort Wijnholds
      Pages 40-55

  4. Recent theory

    1. Front Matter

      Pages 57-57
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    2. Various approaches

      • J. A. H. de Beaufort Wijnholds
      Pages 59-91

    3. Pure theory and some specific issues

      • J. A. H. de Beaufort Wijnholds
      Pages 92-120

    4. Reserve needs under flexible exchange rates

      • J. A. H. de Beaufort Wijnholds
      Pages 121-131

    5. Conditional liquidity, IMF quotas and SDR distribution

      • J. A. H. de Beaufort Wijnholds
      Pages 132-148

  5. Toward a systematic theory

    1. Front Matter

      Pages 149-149
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    2. General propositions

      • J. A. H. de Beaufort Wijnholds
      Pages 151-161

    3. Reserve needs of individual countries and country groups

      • J. A. H. de Beaufort Wijnholds
      Pages 162-198

    4. Global reserve needs

      • J. A. H. de Beaufort Wijnholds
      Pages 199-216

    5. The need for international credit facilities

      • J. A. H. de Beaufort Wijnholds
      Pages 217-232

  6. Back Matter

    Pages 233-252
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Keywords

About this book

International monetary economics essentially deals with three problems, viz. the nature and stability of the international monetary system, the balance of payments adjustment process, and international liquidity (reserves and credit facilities). All three categories are interrelated. The exchange rate system has an important bearing on the manner in which the adjustment process functions, as well as on the need for international liquidity. The adjustment process is an important determinant of the need for international liquidity. The adequacy of international liquidity influences the working of the adjustment process. Ultimately, developments in international liquidity and in the adjustment process determine the nature and stability of the international monetary system; a sustained malfunctioning of the adjustment process - brought about by a serious imbalance in international liquidity or by other causes - will bring about a new international monetary system, either through collapse or reform of the old system. This study deals only with the problem of international liquidity. However, it touches on the two other main aspects of international monetary economics insofar as they have a bearing on international reserves and credit facilities. In the literature international liquidity is most often defined as including international reserves (gold, SDRs, foreign exchange and claims on the IMF) and international credit facilities (IMF drawing rights, EEC support arrangements and central bank multilateral and bilateral credit facilities). This definition will also be followed in this study.

Bibliographic Information

  • Book Title: The Need for International Reserves and Credit Facilities

  • Authors: J. A. H. Beaufort Wijnholds

  • Series Title: Publication of the Netherlands Institute of Bankers and Stock Brokers

  • DOI: https://doi.org/10.1007/978-1-4684-6954-7

  • Publisher: Springer New York, NY

  • eBook Packages: Springer Book Archive

  • Copyright Information: Springer Science+Business Media New York 1977

  • Softcover ISBN: 978-90-207-0713-7Published: 31 July 1977

  • eBook ISBN: 978-1-4684-6954-7Published: 11 November 2013

  • Edition Number: 1

  • Number of Pages: XI, 252

  • Number of Illustrations: 1 b/w illustrations

  • Topics: Economics, general

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