Textbook Notes (368,460)
Canada (161,892)
POLI 354 (26)
Chapter

Power , Money and Trade - Politics of Monetary Regime

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Department
Political Science
Course
POLI 354
Professor
Mark Brawley
Semester
Summer

Description
POLITICS OF INTERNATIONAL MONETARY REGIMESMoney performs three essential functions i As a measure ii Medium of exchangeTrade would have have to take place via barterYou would need double coincidence of wantsiii Store of valueInternational markets are to work via market exchangethen some sort of international money is neededIn international monetary regimes we studyi Exchange rates Refers to the rules governing how national currencies are traded Exchange rates themselves are only the prices of one currency in terms of other currencies Whether they are fixedfloating or somwehre in the middleii Nature of the reservesa Commodity Precious metal like gold or silverwhich serves as a monetary reserve because they have some high intrinsic value recognized internationallyb National currency c Money created by an international agencyiii Convertibility of capital How open or closed the international f
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