Search results for: “fixed exchange rates”

  • Fixed Exchange Rates

    A condition in which the official rates of exchange for most currencies, particularly those of major trading nations, are in an established ratio to one another; generally, this is the result of each currency having an established rate to gold from which a series of bilateral exchange ratios can be …

  • Exchange Rate

    Exchange Rate in International Trade Meaning of Exchange Rate, according to the Dictionary of International Trade (Global Negotiator): The price of one currency expressed in terms of another, i.e., the number of units of one currency that may be exchanged for one unit of another currency. […]

  • Convention on International Bills of Exchange and International Promissory Notes 9

    Convention on International Bills of Exchange and International Promissory Notes   Article 71 A party who pays an instrument and is thereby discharged in whole or in part of his liability on the instrument may recover from the parties liable to him: (a) The entire sum which he has paid; (b) Interest on that sum…

  • Crawling Peg

    A middle ground between fixed and freely floating exchange rates. Unlike the free- floating system in which exchange rates are determined by market forces alone, and a system of fixed exchange rates (i.e., the defunct Bretton Woods system), the crawling peg scheme envisions that various trading curr…

  • Gold Standard

    Summary of Gold Standard A system under which a nation's currency is freely convertible into gold. The quantity of gold per unit of currency is fixed by law. Most major trading nations, however, abandoned the gold standard because of the constraints it imposes upon liquidity, although […]

  • Gold Standard

    Summary of Gold Standard A system under which a nation's currency is freely convertible into gold. The quantity of gold per unit of currency is fixed by law. Most major trading nations, however, abandoned the gold standard because of the constraints it imposes upon liquidity, although […]

  • Economic Integration

    Summary of Economic Integration The process of unifying two or more national economies through conscious coordination of trade, fiscal, and monetary activities. Economic integration is normally preceded by the reduction or abolition of tariffs, quotas, and similar constraints upon trade […]

  • Economic Union

    Summary of Economic Union Also known as an economic community, an advanced form of economic integration on the part of several states. The economic union incorporates the features of a Common market (read this and related legal terms for further details)—unrestricted free trade among […]

  • Economic Union

    Summary of Economic Union Also known as an economic community, an advanced form of economic integration on the part of several states. The economic union incorporates the features of a Common market (read this and related legal terms for further details)—unrestricted free trade among […]

  • Devaluation

    Summary of Devaluation The official reduction of the value of a nation's money in relation to a standard (usually gold), special drawing rights, or the U.S. dollar. Inasmuch as all currencies are ultimately valued in terms of some standard, devaluation results in the conscious increase […]

  • International Monetary Regulation

    International Monetary Regulation Resources See Also Foreign Policy Foreign Affairs International Relations Further Reading Adler, E., & Haas, P. (1992). Conclusion: Epistemic communities, world order, and the creation of a reflexive research program. International Organization, 46(1), 367–390. Andrews, D. (1994). Capital mobility and state autonomy. International Studies Quarterly, 38(2), 193–218. Axelrod, R. (1984). The evolution…

  • Competitiveness

    Competitiveness and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Competitiveness: The ability of a nation or firm to sell competitive goods or services in international trade. Several aspects of […]

  • Competitiveness

    Competitiveness and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Competitiveness: The ability of a nation or firm to sell competitive goods or services in international trade. Several aspects of […]

  • Libya

    Countries or entities currently subject to sanctions by the United States: Libya Libya in 2011 United States views on international law (based on the document "Digest of U.S. Practice in International Law"): On March 26, 2011, State Department Legal Adviser Harold Hongju Koh […]

  • European Monetary System

    Summary of European Monetary System A mechanism established by the European Communities to mitigate exchange rate fluctuations among the members and establish a zone of "monetary stability in Europe."The EMS is, in part, a fulfillment of the 1970 Werner Report (read this and […]