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Why White, Not Keynes? Inventing the Post-War International Monetary System

Author/Editor: Boughton, James M.
Authorized for Distribution: March 1, 2002
Electronic Access: Free Full Text (PDF file size is 1,010KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: The international monetary system is largely the product of negotiations during World War II between U.S. and U.K. officials, led respectively by Harry Dexter White and John Maynard Keynes. The design of the system, especially the International Monetary Fund, reflects the U.S. plan much more than the British. That outcome resulted not only from the superior economic position of the United States but also from differences between White's and Keynes's views on key issues. Examination of White's economic papers shows that he was more multilateral than Keynes and placed a higher priority on monetary discipline.
 
Series: Working Paper No. 02/52
Subject(s): International monetary system | Fund
Author's keyword(s): IMF | Harry Dexter White | Keynes | open economy models
 
English  
    Published:   March 1, 2002        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA0522002   Pages:   25
    Price:   US$15.00
       
     
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