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Its key difference from the bretton woods system was that the value of the dollar could float in a range of 2 governments were now free to peg their currencies the foreign exchange market was forced to close in february of 1972 and individuals. The chosen title “revived bretton woods system” signals that dooley, folkerts-landau, and garber (2003) see a lot of continuity in postwar monetary arrangements, despite the fact that the world has moved away from the original system of pegged exchange rates in.
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First published more than a decade ago, globalizing capital remains an indispensable part of the economic literature today written by renowned economist barry eichengreen, this classic book emphasizes the importance of the international monetary system for understanding the international economy.
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