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| 1. |
what is the effect of bretton wood systems?? |
| Answer» The effects of Bretton Woods system are as follow: -(i) Bretton Woods system inaugurated an era of unprecedented growth of trade and income for the Western industrial nations and Japan.(ii) It provided a big boost to the world trade which grew annually at over 8 per cent between 1950 and 1970. and incomes at nearly 5 per cent.(iii) The growth was also mostly stable, without large fluctuations.(iv) The system also controlled the unemployment which averaged less than 5 per cent in most industrial countries.(v) These decades also saw the worldwide spread of technology and enterprise. Developing countries were in a hurry to catch up with the advanced industrial countries. Therefore, they invested vast amounts of capital, importing industrial plans and equipment featuring modern technology. | |