What steps w,ere taken by the economists and politicians of the world to meet the global economic crisis that arose after the Second World War?
What steps w,ere taken by the economists and politicians of the world to meet the global economic crisis that arose after the Second World War?
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The steps taken are as follows :
(i) Bretton Woods Conference established IMF to deal with external surplus and deficit of its members.
(ii) The World Bank was set up to finance post-war reconstruction.
(iii) Bretton Woods system was based on fixed exchange rates.
(iv) A dollar was anchored to gold at a fixed price.
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