This book describes the history of the IMF from its birth, through the Bretton Woods era, and in the aftermath. Special attention is paid to integrating IMF history with the macro-economic policies of member countries and of other international institutions as well. This collection of work presents a clear understanding, inter alia, of the influence of the United States over IMF policy via the National Advisory Committee; the dealings of the IMF with the UK on pound sterling policy; the institutional change of the IMF brought about by Per Jacobsson, the third managing director; and France, Italy, Germany, Canada, and Japan vis-à-vis IMF consultations. It also provides the reader with topics concerning the bankers' acceptance market function and international liquidity issues in relation to IMF policy; the final chapter sheds light on the long-standing relations between the IMF and China, from the Bretton Woods Agreement to the contemporary period. All the chapters are archive-based academic studies providing deep insights with historical background, which makes this book the first thoroughly independent achievement in the field of IMF history. This book is highly recommended to readers interested in contemporary monetary and financial history and those who seek to obtain a coherent image of postwar international institutions and markets.

Inhalt

I. Foundation and Development of the IMF.- Ch1 Prehistory of the IMF: Debates in the UK and Anglo-American Negotiation (M.Itoh).- Ch2 Early Policy Formation of the IMF: in relation to the NAC (I.Suto).- Ch3 Struggle of the IMF, 1944-61: Toward the creation of the Postwar Monetary System (T.Nishikawa).- Ch4 Maybe the Fund needs something else Per Jacobsson, from the Bank for International Settlements to the International Monetary Fund, 19311963 (P.Clement).- Ch5 International Liquidity Problem in the 1960s: IMF Board Discussions (Y.Noshita).- Ch6 Return to Convertibility of the West European Currencies and the BA Market: IMF and FRB (M.Tsurumi).- II. IMF in relation to National Economies and International Organizations.- Ch7 IMF and France before 1971: Bretton Woods as a Multilateral Order (K.Yago).- Ch8 IMF and Germany: Monetary Crisis and Exchange Rate Policy (A.Ishizaka).- Ch9 IMF and Italy: Trade Liberalization and Return to Convertibility (K.Itoh).- Ch10 IMF and Canada: From Floating to Fixed Exchange Rate System (A.Sugawara).- Ch11 Japanese Participation to the Bretton Woods System (M.Kishida).- Ch12 IMF and Japan: Liberalization and Pursuit of Rapid Growth (Y.Asai).- Ch13 China and the International Monetary Fund 1945-1985 (C.Schenk).