Intenational Monetary and Financial System and the BIS during the Post-War period
Grant-in-Aid for Scientific Research (C)
|Allocation Type||Single-year Grants|
|Research Institution||Tokyo Metropolitan University|
YAGO Kazuhiko Tokyo Metropolitan University, Faculty of Economics, professor, 経済学部, 教授 (30242134)
|Project Period (FY)
2002 – 2004
Completed(Fiscal Year 2004)
|Budget Amount *help
¥3,400,000 (Direct Cost : ¥3,400,000)
Fiscal Year 2004 : ¥700,000 (Direct Cost : ¥700,000)
Fiscal Year 2003 : ¥1,300,000 (Direct Cost : ¥1,300,000)
Fiscal Year 2002 : ¥1,400,000 (Direct Cost : ¥1,400,000)
|Keywords||Bank for International Settlements / International banking / Euro-Currency Market / Central Bank Cooperation / Bank of France / Bank of Japan / Intra-European Payments / Floating Exchange Rate System / 金融規制 / 通貨外交 / 中央銀行 / 国際通貨体制 / ネオ・リベラリズム|
The purpose of this project was to make dear the evolution of the international monetary and financial system during the post-war period, in its relation to the Bank for International Settlements (BIS). Special interests have been paid on the BIS, on its theoretical background, the political feature, and the economic thoughts engaged. The BIS, founded in 1930 in order to strain the cooperation between central banks, has been a forum to negotiate and to establish financial policies of the member countries. This research project tried to reveal the historical process of central bank cooperation after the Second World War, depending upon the archival sources of the BIS, and to make analysis on the historical presuppositions of the financial globalization nowadays from the points of view either of international relations or of the international comparison. Our main focuses were as follows: German reparations problem, World Depression, Post-War planning on international financial system, In
fra-European settlements scheme, Euro-Currency market, crisis of the dollar and the pound-sterling, floating rate system.
The main results achieved were as followings:
1. In order to understand the history of the BIS, as well as the historical development of the international financial system, especially in its relation to the central banking, the French case has been studied and some points of discussion have been proposed.
2. A current of economic thoughts called "financial utopianism" has engaged to the foundation of the BIS. This current has been inquired under the comparative perspective between economic thoughts and the international financial history.
3. The relation between the BIS and the Bank of Japan has been made clear after the archival studies and interviews.
4. The coexistence of the BIS policies and financial crisis during the interwar period has been studied.
5. To cope with the Post-war financial innovations, such as the rise of Euro-currency market or the development of the swap operations, the BIS proposed some unique policies. The project has enlightened some unknown cases.
6. The BIS's cooperation with the G-10 during the period of the crisis of the fixed exchange rate system has been investigated. Thus obtained the historical perspective on the floating exchange rate system. Less
Research Products (16results)