The return to convertibility: 1926-1931 and 1958? Or convertibility and the morning after ?
The article analyses the return to convertibility which, although originally envisaged for 1953, finally materialised at the end of 1958 with the six countries of the European Economic Community taking the first step on the long road toward full integration of their national economies. The author co...
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2014-03-01
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| Series: | PSL Quarterly Review |
| Subjects: | |
| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/11971 |
| _version_ | 1811172578638692352 |
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| author | R. TRIFFIN |
| author_facet | R. TRIFFIN |
| author_sort | R. TRIFFIN |
| collection | DOAJ |
| description | The article analyses the return to convertibility which, although originally envisaged for 1953, finally materialised at the end of 1958 with the six countries of the European Economic Community taking the first step on the long road toward full integration of their national economies. The author considers two closely interrelated questions of particular urgency at this time. The first is that of preserving - or restoring - an adequate level of international reserves and liquidity in an expanding world economy. This quickly leads to the second and broader issue of the vulnerability of a world monetary system whose operation becomes increasingly dependent on one or a few national currencies as major components of international monetary reserves.
JEL: E42, F15, F31, F33, F36
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| first_indexed | 2024-04-10T17:32:37Z |
| format | Article |
| id | doaj.art-9bfe410f3490439c8811274f2e6cd29b |
| institution | Directory Open Access Journal |
| issn | 2037-3635 2037-3643 |
| language | English |
| last_indexed | 2024-04-10T17:32:37Z |
| publishDate | 2014-03-01 |
| publisher | Associazione Economia civile |
| record_format | Article |
| series | PSL Quarterly Review |
| spelling | doaj.art-9bfe410f3490439c8811274f2e6cd29b2023-02-03T16:43:27ZengAssociazione Economia civilePSL Quarterly Review2037-36352037-36432014-03-01124810.13133/2037-3643/11971The return to convertibility: 1926-1931 and 1958? Or convertibility and the morning after ?R. TRIFFINThe article analyses the return to convertibility which, although originally envisaged for 1953, finally materialised at the end of 1958 with the six countries of the European Economic Community taking the first step on the long road toward full integration of their national economies. The author considers two closely interrelated questions of particular urgency at this time. The first is that of preserving - or restoring - an adequate level of international reserves and liquidity in an expanding world economy. This quickly leads to the second and broader issue of the vulnerability of a world monetary system whose operation becomes increasingly dependent on one or a few national currencies as major components of international monetary reserves. JEL: E42, F15, F31, F33, F36 https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/11971ConvertibilityEECeconomic integrationinternational reservesliquidityworld monetary system |
| spellingShingle | R. TRIFFIN The return to convertibility: 1926-1931 and 1958? Or convertibility and the morning after ? PSL Quarterly Review Convertibility EEC economic integration international reserves liquidity world monetary system |
| title | The return to convertibility: 1926-1931 and 1958? Or convertibility and the morning after ? |
| title_full | The return to convertibility: 1926-1931 and 1958? Or convertibility and the morning after ? |
| title_fullStr | The return to convertibility: 1926-1931 and 1958? Or convertibility and the morning after ? |
| title_full_unstemmed | The return to convertibility: 1926-1931 and 1958? Or convertibility and the morning after ? |
| title_short | The return to convertibility: 1926-1931 and 1958? Or convertibility and the morning after ? |
| title_sort | return to convertibility 1926 1931 and 1958 or convertibility and the morning after |
| topic | Convertibility EEC economic integration international reserves liquidity world monetary system |
| url | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/11971 |
| work_keys_str_mv | AT rtriffin thereturntoconvertibility19261931and1958orconvertibilityandthemorningafter AT rtriffin returntoconvertibility19261931and1958orconvertibilityandthemorningafter |