ABSTRACT
This topic can be analyzed from different perspectives. One approach would consider the topic from the standpoint of a single country making the inescapable choice of an exchange-rate regime, and thus evaluate the merits of alternative exchange-rate policies in particular situations. Another approach would consider the interactions between countries and study alternative ways of managing the currency interdependences that are an inevitable feature of international economic relations. Yet a third alternative is to consider the topic from a global-historic-theoretic vantage and evaluate the success or failure of alternative exchange rate systems in promoting or inhibiting growth of the economy. It is from this third perspective that I shall approach my subject.1.
