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Deutschland im Weltwährungssystem von Bretton Woods
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Vandenhoeck & Ruprecht
This paperdescribes the evolution of the internationalmonetary system set-up at the BrettonWoods... mehr
Deutschland im Weltwährungssystem von Bretton Woods
This paperdescribes the evolution of the internationalmonetary system set-up at the BrettonWoods Conference in 1944 until its breakdown in 1973. In particular, we focus on economic disequilibria inside the system and political constraints faced by actors. Germany is the key country in our story. On the one hand, it became an “economic superpower” during the late 1950s and 1960s, causing growing economic imbalances inside the system. Onthe other hand, it remained a “political dwarf” due to its past, unable to enforce a stabilizing currency policy in the international arena. Simultaneously, the government faced domestic constraints inhibiting a stabilizing, but inflationary policy in Germany.
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