紀要論文

ドル残高・1968-71年 : ブレトンウッズ崩壊期の国際短期資本移動

Dollar Balances・1968-1971

jpn

00229741

https://doi.org/10.15002/00003198

法政大学経済学部学会

71

1

141

189

2003-07-05

Version of Record

This paper investigates the international short-term capital movements during the period when the Bretton Woods monetary system was collapsing, namely 1968-1971. Contents are as follows. 1. Dollar flows into and out of the United States (1) International Dollar flows (2) Euro-Dollars (3) Sources of the Euro-Dollars (4) The line in the balance of payments table (5) Net liquidity payments balance (6) Increace or decreace of funds (7) Sources of additional funds 2. Swap arrangements (8) Bilateral agreements of the short-term credits (9) Making use of the swap by the New York Reserve Bank (10) Making use of the swap by foreign central banks (11) Repayment of the swap borrowing (12) U.S. support to the U.K. (13) "Stop-go" (14) Meaning of the international support (15) Roosa's Bonds 3. Above and below the line of the official settlements balance (16) Base-money expansion with foreign use of swaps (17) Base-money contraction with repayment (18) Surplus of the official settlements balance in 1968-1969 (19) Viewpoints of the official settlements balance (20) Dollar transactions between foreign private and public sectors (21) Fluctuations in the official settlements balance 4. 1968-1971 (22) 1968-69 vs. 1970-71 (23) Speculative attack against the dollar (24) The American choice (25) Speculation in the real rates of interest (26) Swelling of foreign reserves (27) Deficits of the official settlements balance in 1970-1971 (28) Leads and lags (29) Basic balance entangled in the leads and lags (30) Future uncertainty from the anxiety ovey the dollar devaluation

Article

AN00071028