What was bretton woods system distinctive features?
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The Bretton Woods system was a monetary management system that was set as the rules for commercial and financial relations among the world's major industrial nations. The main reason behind it's establishment was to allow manipulation of international monetary system through these rules, institutions and procedures. The institutions were International Bank for Reconstruction and Development (IBRD) and International Monetary Fund (IMF).
The distinctive features of were:
1. Avoiding unstable exchange rates and competitive devaluations caused by pre WWII(World War 2) economies by instituting fixed exchanged rates
2. Financing the reconstruction of Europe during the Post War period
3. International Bank for Reconstruction & Development (IBRD) which was the World Bank then was established to serve the 1st objective while IMF (International Monetary Fund) was to serve the 2nd objective
The distinctive features of were:
1. Avoiding unstable exchange rates and competitive devaluations caused by pre WWII(World War 2) economies by instituting fixed exchanged rates
2. Financing the reconstruction of Europe during the Post War period
3. International Bank for Reconstruction & Development (IBRD) which was the World Bank then was established to serve the 1st objective while IMF (International Monetary Fund) was to serve the 2nd objective
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