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Ebook: International Short-Term Capital Movements

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02.03.2024
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Discusses two basic principles of international short-term capital movements: that short-term capital in the balance of payments and in a national banking system should be regarded as equivalent to gold and that equilibrium in the foreign-exchange market and in the balance of payments can be said to obtain when at a given rate of exchange the balance of payments exerts neither an inflationary nor deflationary force on the national money income.

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