December 2015
Intermediate to advanced
313 pages
16h 2m
English
Content preview from International Business, 2nd Edition by Pearson
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International Financial Institutions 149
INTRODUCTION
A major development in global finance was the establishment of the IMF and World Bank at the Bretton
Woods Conference in 1945. These institutions were visualized as the guardians of the international
financial and monetary system with a clearly stated mandate. The IMF was established to provide the
rules of the game and determine the code of conduct for the international monetary system. The World
Bank on the other hand, was set up to promote general economic development beginning initially with
the reconstruction of war torn Japan and Europe. Over the years it has evolved into an agency that ...
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