国际政治经济学中的货币与金融体系【25页】.pptVIP

第五讲 国际政治经济学中的货币与金融体系 Money and Finance Ⅰ. 国际领域内的货币与金融 Money and Finance in the International Arena Ⅱ. 文选讲读 Selected Reading Explanation The Triad and the Unholy Trinity: Problems of International Monetary Cooperation Ⅰ. Money and Finance in the International Arena The international economy, like domestic economies, requires a common monetary standard to function smoothly. If the international monetary system provides the measures (度量) needed to conduct world trade and payments, the international financial system provides the means（手段）mainly by banks (financial institutions) Ⅰ. Money and Finance in the International Arena Four well functioning international monetary and financial systems: In international finance, the period since 1965 has been extraordinarily eventful. The Euro market has grown to several trillion dollars, and international banking has become one of the great growth industries in the world economy. Impact of Postwar monetary and financial affairs: MONEY: a unit of account against which other goods can be measured a medium of exchange with which transactions can be carried out a store of value in which wealth can be held *Traded commodity (gold or pork bellies) – classical gold standard **Fictitious unit (paper gold) – issued by IMF (precursor of international money国际货币的先驱) – dollar or euro as the basis for international payments The international monetary system The international monetary system is the “Great Wheel” that enables goods to move in international trade, the international financial system is the grease that allows the wheel itself to turn. Four well functioning international monetary and financial systems: 1820—1914: classical gold standard system (many major national currencies were tied to gold at a legally fixed rate.) actually a gold-sterling standard system. The world financial system was dominated by British banks, which financed much of world trade and channeled internati