The Dollar and the World Economic Conference

Barry Eichengreen

in Golden Fetters

Published in print July 1996 | ISBN: 9780195101133
Published online November 2003 | e-ISBN: 9780199869626 | DOI:
The Dollar and the World Economic Conference

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This chapter analyzes the critical period in the spring of 1933 when American policy was reversed and the dollar devalued. Roosevelt's abandonment of gold coincided with the World Economic Conference, which was held in London in June 1933, in a last attempt to respond cooperatively to the economic crisis. The connections are traced between the dollar's depreciation and the London Conference and an explanation given of why the latter failed. The different sections of the chapter discuss the background to the negotiations, the conference itself, the international monetary repercussions, and the impact of devaluation of the dollar.

Keywords: abandonment of the gold standard; devaluation; dollar; economic crisis; gold standard; international cooperation; international monetary repercussions; interwar period; USA; World Economic Conference

Chapter.  14324 words.  Illustrated.

Subjects: Economic History

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