The Development of International Monetary Policy

This book is about the evolution of international monetary policy. It traces the development of monetary policy from the 18th century to present. Beyond the historical dimension, it provides the salient reasons for monetary policy choices as time progressed. The main themes in the historical spectrum are mercantilism, the Gold Standard and monetary policy rules, dollarization, currency boards, monetary unions, stagflation, monetary sovereignty, currency manipulation, the legal framework for currency valuation, and innovative monetary policies to deal with stabilization issues in the twentieth and twenty first centuries.