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Author:James, Harold 

Working Paper
The international monetary and financial system: a capital account historical perspective

In analysing the performance of the international monetary and financial system (IMFS), too much attention has been paid to the current account and far too little to the capital account. This is true of both formal analytical models and historical narratives. This approach may be reasonable when financial markets are highly segmented. But it is badly inadequate when they are closely integrated, as they have been most of the time since at least the second half of the 19th century. Zeroing on the capital account shifts the focus from the goods markets to asset markets and balance sheets. Seen ...
Globalization Institute Working Papers , Paper 204

Conference Paper
Historical perspective on international monetary arrangements: opening address

Conference Series ; [Proceedings] , Volume 43 , Issue Jun , Pages 33-40

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