Handbook of Critical Issues in Finance
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Handbook of Critical Issues in Finance

  • Elgar original reference

Edited by Jan Toporowski and Jo Michell

This vital new Handbook is an authoritative volume presenting key issues in finance that have been widely discussed in the financial markets but have been neglected in textbooks and the usual compilations of conventional academic wisdom.
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Chapter 4: Capital controls

Giovanni Cozzi

Extract

BRETTON WOODS AND CAPITAL CONTROLS Following the Great Depression and World War II many countries adopted capital controls as an important policy toolkit in order to create stability and achieve economic prosperity. To this end the 1944 Bretton Woods agreement legitimated the imposition of capital controls on short-term capital.

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