Chapter 1 Evolution of the International Monetary System 国际金融专业双语教学课件.pptVIP

Chapter 1: Evolution of the International Monetary System History of the international monetary system International gold standard (1880-1914) Characteristics: In the case of a gold standard, Currencies are valued in gold, and all currencies that are pegged to gold are therefore automatically linked to each other, The price is maintained because the government stands ready to buy and sell gold to all customers at the pegged value. International Gold Standard Price-Specie-Flow Mechanism (David Hume) Premises: I. There’s no restraint on the buying and selling of gold within countr