International Policy Coordination in Historical Perspective: A View from the Interwar Years
This paper examines the international financial relations of the interwar period to see what light this experience sheds on current concerns over international policy coordination. The analysis proceeds in three parts. The first part considers the role for policy coordination as viewed by contemporaries at the start of the period; it takes as a case study the Genoa Economic and Financial Conference of 1922. Efforts at Genoa to coordinate policies ended in failure; the second part therefore considers the effects of noncooperative strategies within the framework of the interwar gold standard. The analytical model developed in this section suggests that the failure to coordinate policies lent a deflationary bias to the world economy which may have contributed to the on set of the Great Depression. The third part asks what policymakers learned from this failure to coordinate policies, taking evidence from the next effort to establish a framework for international financial collaboration: theTripartite Monetary Agreement of 1936.
Eichengreen, Barry. "International Policy Coordination in Historical Perspective: A View from the Interwar Years." International Economic Policy Coordination, edited by Willem H. Buiter and RichardC. Marston, pp. 139-178, Cambridge University Press, (London), 1985
(REF) The Disintegration of the World Economy Between the Wars, Thomas, Mark, ed., Edward Elgar, 1995.
International Policy Coordination in Historical Perspective: A View from the Interwar Years, Barry Eichengreen. in International Economic Policy Coordination, Buiter and Marston. 1985