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PRINCIPLES OF MONEY AND BANKING
Economics 241
Spring Term: 1956
Professor Williams
Recoranended Textbooks f o r Review and Background Readings* • * 1
PART I: MONETARY THEORY AND POLICY
I*
II*
Monetary and Etoploynent Theory:
A* Segue T h e o r e t i c a l D i s c u s s i o n s * « « » + • « » » •
B* I n t e r e s t Rates i n Iionetary Theory and P o l i c y • •
1
2
Monetary P o l i c y and Problems of Debt Management?
A* United S t a t e s Monetary and Debt P o l i c y , * • * *
B* Some Recent Foreign P e r s p e c t i v e s on T r a d i t i o n s !
Monetary Policy • • « • • * « « « « • « • « «
3
PART l i t
III#
IV*
V*
6
BUSINESS FLUCTUATIONS AMD PUBLIC POLICY
Economic Grov/th and Changes
T h e o r e t i c a l Analysis* * # 7
S t a b i l i t y and Growth: Business F l u c t u a t i o n s and
Government S t a b i l i s a t i o n P o l i c i e s « * « « * • «
I n f l a t i o n - D e r i a t i o n and Problems o f
Relations » « » » * « «
c
, * , * . - .
®«9
10
PART III: INTERNATIONAL ECONOMICS
VI«
VII«
International Trade Theory « — Optional
Background Reading * , « • * * • • .
»«
Payments Mechanism and Problems of Exchange-Rate
Policy . . • • • • • • . . . . • • • . . • * , .
11
12
VIII«
Dollar Shortage and Currency C o n v e r t i b i l i t y • • • *
13
IX»
Developmental Economics: Some F i n a n c i a l Aspects « *
14
January, 1956O
OF HOIB1TT A1ID BALING
Spring Torn: 1956
Professor i l l i
;
Recigmmeaaagd-ffextbooka^ for Rpvlgw; iandL^Eackgrotaid i Readings:
Chandler, L».V*» Tlae Eaonosiics of Hongy and Banking. Hew York, Harper*
2a rev. ed*, I^SsT*
~~* """
"~
Hart, A«G», H2S2JE* Pffili* a n c i l£2BS^£ Aotivity^ Hew York* Frentloe*
Hall* 2d rev* ed7TT^95"37~
Sayers, R»s*» Kodern• Bariklng% London^ Oxford University
Sd rev. sd^T^^SX*
Enploytaent
(o^iolnsivo of the Important
of' II S p o r tSa n ^ B i te o r i s t ^s •—Hawtrey,
k
Keynes, llarslialln liotertson^ and Viilcksell,B normally
in xmaor^adtiafce money and banking and in Econ* 242a )•
Books i.
1» PellrAer^ v;#J#, ^SSS^SSS Ppli^iea and jgaJLl p ^
y^ Unfver H ty
y oF^t^HTornTa Pro s i V SS r eV •"" ed#^ 1947*'
2* Hansen, A*II*# A Guide
to J^SEgS* How
i
H York^
Y k McGraw-Hill^
M G H i l l 1953a
953 '
f^^ni!^^'"and Fla
M
7 ^ ^
l
4# Klein* L*K»* The Kgynesigii ft€^Tolution«»
Hew York* Laeznillan#
1947s chs.T^S*
-«~*~~~~^^
5* Patinkin* Don, Konej;,- j ^ g £ £ £ | i ggd ^|££®» E^anstonj, Row#
Peterson* 19"SST""^ •
6* t'illla^a^ J*H*# EooncsQic S t a b i l i t y in a Cbanging World* Hew
Ycsrl:* Oxford TEIvcriTty Pres's^ l^BsT e l i T T a n 3 3 I ^
Artlclea?
Eecirer* 'G*3** and Baumols *..••?.,* wTh«
Classical Monetary Theory:
The Qutcoiae of the pis cuss Ion A9 Seon^iiea5 XIX, llov*, 1952,
pp> 3 5 5 *
Fellner, \7»J*« "Tlie Robertsonlan BDrolution^f? American
Ueviev^ XL1I* Juno,
1962, pp. 26^SS7~
^
iiayelc1© Contribution to Trade C^cle
Duraiee EeoHomic Ee|sa^£, ed.toyJ.*K* Eastliam*
SSfST"^
"~ '
4» Ha£:eai, E»E#, nThe ConsiHiiptlqn
Iteictiont A Review A r t i c l e , n
stat 3
"i
of ^goSgMig gf-^ l A ^,^lgl» ^CK.VII, Fetu, 1955,
1*
'EBr
Hough, Louis, ?fTIi© Price LevelXM;in Macroeconomics Models,"
^
pp.
•feiSS,^
§ R ^19 ^ B * ? BV,
^June
B 1954,
,
pp 269^86.
w
w
6# Job^son.,''^^GTiT'-aiiff 1'oSSF^oh,
h D#H*f Sosae. Casibridge Controversies
in Monetary Tiieory, '•Reviety of Eeonomic Studiea, X1X(2)
1951/52, pp. 90-110.. ~ — — — — <
5.
Economics 241, Spring* 1956*
7*
8*
9*
10*
11*
12*
1S«
Lindahl, K«, n0n Keynes9s Economic System" Economic Uecord,
XXX, pt* 1,, Z.lay, 1954, pp« 19-32; pt« 2, H6v«> l$g$l
pp. 159-71•
Lintner, John,, "The TLeory of Honey and P r i c e s , n The
Lconoraies, od« by S*E« Harris* N*Y., linopf, 19W7 PP* 516-23
Patinkln, Don* fl \<lcksell f s fCumulative Process, | f f Economic
Journal, LXII, Dec*, 1952, pp. 835-47.
Tow, llrian, "Koyncs and the C l a s s i c s , " Yorkahlre Bulletin »
VII, 3cpt«, 1955, pp. 89-92,,
Tobin* James, "Asset Holdings and Spending; Decisions,"
American bcononic iveyiew, 8upj?lenent» XLII, Lay* 1952,
pp* l0u-2"K
Villard, Ii*H*, wLoneta.-y fleory/ 1 in A Si^^yey of Contemporary
^cononics, I* Pliiladelpliia, I lalrfston, 194HT
V.rlrjht, £)/ *, flTIx Fut\ire oi' Kcynesian ivconomlca/1 Aaicrlcan
Economic Roviovv, XXXV# June, 1945, pp. 204-307/
B«
I n t e r e s t uatos In Monetary Theory and Policy
Booksi
lo
2a
3*
4a
6*
7*
8^
9*
Fisher, I r v l n p , The Theory of Interest* Efev; York, Kelley &
r i l l l m a n , nev*« edV, l9u5»
Hansen, A«H#, Hone t a r y Theory and Fiscal Policy c Hew York^
LlcGraw-Hill, 1^49, c!ho &•
Havrbrey* H»^«, A Ccnttiry of LarJt Rato» London, Lon^xaans,
Green, 1 9 3 8 ^
Hicks, J.R^, Value and Capital » Oxford, Clarendon Press,
1939, ch* 157
Keynes,
J*i:^,, The General Theory^
ys,
y *Ii.Y«,
# Harcourt,, Erace, chw 14^
Robertson* D.IU* U t i l i t y "an3 All ftkat London, Allen £:
1952, cha* 5-6*
Robertson, Essays In Monetary Theory^ London$ Kin^, 1940, ch. 1<.
Shackle, Gc£»S.^ tJnc'er^ainty In Kconoralcs and Other iieflectionsa
Cambridge, Harvard tiniversTFy Press, 19^^57
Y<ilson# T«, and Andrews* P/-«3* (Eds*) Oxford Studies in the
Price Uochanisru Oxford, Clarendon Press * 1S61", chYTC
(i\j.
1-26)*
Articles:
1*
2*
3*
4*
5*
Coulborn, v;.A.L. > "Principal
Contributions to I n t e r e s t Rate
Theory Since Keynesfs * General Theory, 1 " Southern Economic
Journal, XX, July, 1953, pp* 12-22*
liaim/ ^TxTT, "The liate of I n t e r e s t and General Equilibrium
Analysis," Economic J^u£2£i* LXV, March, 1955, pp* 52-G6*
Ilansen, A*ll. 1$ hClassicaTV"Xoonab 1 e Fund, and Keynesian I n t: e r e s t
Theories/ Quarterly Journal of Economics» LXV, Auc«, 1 >51,
pp* 429-32; comment by L» lievln, and r e j o i n d e r , I b i d • ,
LXIX, Hov., 1955, pp. 637-43*
Harris* Elinor, "Honey Demand and the I n t e r e s t Rate Level, n
Quarterly Journal of Economics, LXIV, Fet>«, 1950,
pp. 105-24; corameriT^b y ::» R ob ins on, and r e p l y , Ibid* ,
LXV, Lay, 1951, pp. 284-9•
Kahn, R«F*, tfSome llotes on Liquidity Preference," The
Manchester School, XXII, Sept«, 1954, pp* 229-5"77^coninient
t y B. Tev;, and r e p l y , I b i d , , LXV, Sept*, 1955, pp* 544-56^
Economics 241, S p r l n o 1956«
60
7«
80
9»
10e
llo
12«
13«
14*
15*
^»
3*
Keynea* 3*l\*> f<Tlie Theory of the Ilate or I n t e r e s t / The
.Lossons of Hone tors Kxpcrienc6» ed* by A* D« Gayer* Uev;
lorlr, Farrar C; ftlnehai't, 1D3V, pp* 145~52«
Lo!rh # A*, "Supply ancl Demnd Analysis
of Interest riates: A
further Attaapt at Synthesis*1* Anerican Lconouic rievlcw,
XLI, £ept.» 1951, pp, 579-CQ2,
Lutz, F»A*f "The Structure or Interest a a t e o / 1 Quarterly
Journal of Lcononlcs, LV, Jam * 1941, pp. S6-&3* Heprinted in
(A...A) Readinrs in the TLeory of Incorac D I s t i b
LiOdi/jilani# F« p ^LrquIcTTty
Preferences and the
Interest ancl fJ
: oney^ft ]jcono;iotrlca# XII, Jan<», 1944.
Paliaer, G.V.D., T.o aatc < ' i n t e r e s t in the Trade C^jcle Thecoles
of Frofo Hayek,* So# Agclcan Journal of Kcon* ^XXIII, Mar,» 1955*
Robertson, D*H«, "More tfotea on the Rate oJ^ Ynterest^1* Review
of Econonic Studies^XXI(2)» No* 55, 1953/54,
Robertson, "Some Note's on the Tlieory of Interest^ 11 Itoney, Trade»
and Economic Growth (Lillians Festschrift}*. Hew York^
lBchillan # 19^1, ppw 193-209«
Tobln* J # t ^Liquidity Preference ana Monetary Policy, 11 Review
of Economic Statistical XXIX, Kay, 1947, ppft 124-31*
lifeprinted in (AfiA)' headings in Fiscal Policy*
Turvey, Ralph, "Consislicncy alul'Tronsolidiation In the Theory
of I n t e r e s t , " Lcononica, XAI, Uov., 1954, pp« 300-07.,
Wallich, lUC^j! nTho Current Significance of Liquidity Preference, n
qua3?terly Journal of Econpmicg, LXI, Auf * , 1947, pp*490~512a
Monetary Policy and Problems of Debt
United States Manareraent and Debt Policy
Public Documents:
Federal reserve System:
a* iioard of Governors, Annual Reports* Washington, current
issues*
b 9 Federal Reserve Bank of New York, Annual Reports*> New
York* current Issues*
U« S* Joint Committoo on the Economic Report*
a« (Flanders) Subcommittee on Economic S t a b i l i z a t i o n ,
Pnited States Monetary Policy —- Recent Thinking and Ex~
prrience^i
ilearih^s*• V83 Congress^ 2 Session,
Dec^ 6-7, 1954* vVashin(:ton# Supt* Docs«f 1954*
b# (Patman) Subcommittee on General Credit Control and
Debt Management*
Monetary Policy and the Management of the Public Debt —
"ffteiy Role in Achieving- Price S t a b i l i t y and Mnh-Level
^ p ig t
p
p
"^Compendium
of Replies
to Q
Questions
Senate i>oc« 123o
Pts«
I-II*
l.asliinrton,
Supt.Docs. $19b2<>
2
i
b« Hearincs<a*»82 Con(;ress# 2 Session^ Llarch 30-31* 1952*
l.ashinoton # Supt* Docs#^ 1952*
(Douglas) Subcornraittec on Monetaryf Credit 0 and Fiscal
Policies•
Monetary^ Credit and Fiscal Policies*
a* Compendium of Materials.•^Senate Doc* No. 132* 81 Congr e s s , 2 Session* Washington, Supt« Doca^ 1949*
Economies 241# Spring;, 1956.
"bo
c*
Hearings**o81 Congress p 1 Session* '..ashincton, Supt«
Doc So, 1950,,
iioport of the Subcommittee!, Senate Doc© Noo 12 9 ^
81 Congress* 2 Session* l.ashincton* 3upt«, Docs** 1950o
Books:
Abbott^ C«>C«, The Federal Debit Structure and JjEngacto Hew
York* T vent I^ eiii^crSuryTPurii 9 ^VS^Sl
Ffordo* JoS*, The Fodex^al Reserve Systen, 1945'-49o London*
Oxford Unix- erslly" tress7T?^5ST
Prledrlch, C«,Jo, and C albraltl.., J«K* (eds«)* Public Policy,
Vol* V* Cambridge, eradicate School or rub Tic AcbulnTstra tlon
Harvard University* chaps* by R*A# Uusfxave & I« 0,,
Scotto
Goldonwelsor, E«A«#
l
li
^ i
LcCra\7~Hlll, 1951 o
^
f
ffpy.» . g g ^ ^ J ^ i£2225i£ Activity., llcw
*
Prentice-Hail"7 23Trov• ©ci»7 1953©
* Tradeg, and Econoglc Growtho In Honor of John IL> Williams
y R^V« Roosa & A^ Sproulo
T l 77
T C T ' T ^ s r j ' "cKapa* by
Murphy., IUC<»# The Ilat^ional D£tj,t i n ^ a r and T r a n s i t i o n ^ Hew
^TITTSBU'
80
9^
uitter, & L«s* (ed*)^ ^£n£2 ^ d Ixononic Acti^i.t^o Boston^
Ho\ichton# UlfrilnTToBii
Smithloa, A.,, and E u t t e r s , J*L*, Roadln^s
i n F i s c a l Policyo
iionevjood* lrv;in # 1955^ Part iVT"""^l" "
Articles:
lo
2o
3*
4.
5*.
60
1*
8^
9o
10o
AUiadeff* D«A^f f?Monetary Policy and the Treasury 1 i l l Market/ 1
Airiorican Lcononlc Reylew^ XLII# June# 1952s pp<> 326-46 a
Droclcle^ I.;«D«* wDebt Manafemorit and Economic S t a b i l i z a t i o n # n
Quai'tcrly Journal of Lcononiics^ LXVIII^ Nov«f 1054 pp« 013-20*
Carson> Doane^ ^Kecent Open Market Committee Policy and Technique," Q u a r t c r l j Journal c>£ Lconoralcs, ULIX, Aur"»» 1955,
PP« 521 - ^ n
Cochran, J^A,,, "Postwar Monetary Policy^" Current Lconomic
(Univ^ of I l l i n o i a ) , Vol. 17, TTov/ I 5d57 > ^TT
Corxiitteo for Economic Development * Llana^ln^; the Federal Debt*
I-ev; lork, 1954, 37 ppCooke, II* Jo # and Katzen* 1**, !fTlie Public Debt Limit**1 Journal
01 i'inance^ IX, Sept** 1954# pp« 298-303,
Donovan, C^lI7, "Debt Manareraent and Federal Reserve Credit
Policy Since 1945/* Southcr^n Economic J o u r n a l , XX,
Jan* 1954, pp* 251-4^^
*
Federal Reserve Bank of How York* "The Treasury and the Honey
Market/* Reprinted fron The r:onthly Reviewp llay, 1054» 42 pp o
Preediaan# Rofct«^ "Federal Credit Acencies ond the Structure of
Money Markets 9 I n t e r e s t Rates and the A v a i l a b i l i t y of Capital^ 11
Quarterly Journal of Econonics^ 11LXIX* Augo, 1955, ppo 421-44o
Hansen^ Alvin'Hop ^Honetary
PolTcy, Review of Econ^nlca and
S t a t i s t i c s ^ XXXVII, T:ay^ 1955, pp. 110«~197^ouinenfcU
Economics 241* Sprlnc, 1956*
11©
12*
13«
14»
15«
16iv
17*
18»
19*
2• .•21o
2&»
23^
24o
25*
26«
27^
28*
29«
30*
31 •
32*
5O
I n s t i t u t e of I n t e r n a t i o n a l Finance* New York University, "The
Hole of a F l e x i b l e Credit P o l i c y , " B u l l e t i n Ho. 191*
May 16, 1955, 19 pp*
Koch, A«R«, and others,"Money
Market Developments and Prospects
Since the *Accord, 1 " Journal
oi Finance, X, i'ay 1955, 29 ppo
Lanston, A*G*, "Hanaf/ancnii oi'1 the Public Debt, 11 Proceeding-a of
the Academy of P o l i t i c a l ; c i e n c e , Jan*, 1954, pp# 434~4$*
LIcCracken, P«L«, "The Public Debt: Hindrance or Advantage t o
Credit Control," Journal of Finance, V I I I , Llay, 1953,
pp. 159-68.
Morton, W« A*, "The Structure of the Market and tlit Plaice.of
Money," American Lconomic uevleg, Supplement, XLIV, May 1954©
Kusfrave, R*A», "Credit Controls, I n t e r e s t R a t e s , and Manace-*
raent of Public Debt," i n Income, Knployraent and Public
Policy» Essays in Honor O?"~AT"7L nansen* Hev; "Jerk, Ilorton*
1948, pp. 221 -64*
Katchford, B»U.# "Some Aspects of Debt Manaeenent i n t h e Uhited
States*" Pi&lic Finance, Xf Ho. 2 , 1955, pp* 133-49^
Reierson, R«L», "rorkinc of the Credit Meehanlsrc,w Journal of
Flnanco, VII, Llay, 1953, pp. 177-89^
R i e f l e r , \;^u*, "Monetary Policy, 11 Journal of Dusiness, >wwVII,
J u l y , 1954, pp # 235-42^
Robinson, Marshall, "Federal Dolt Ma.aceraent, C i v i l . a r , v-orld
v*ar I , and V;orld \.ar I I , " Anorican Lcononlc KevieY/f
Supplement, XLV, Ha:, , 1955, pp. ^^38-461^
Rol)in3on, "Federal Credit and Creditors — V.lio Holds the
n a t i o n a l Debt?" Hanover, Amos Tuck School of Business
Adiiinlstration, 1954* 12 pp*
Sayers, IUS*, "The Ue\; Y:rk :;oney Market Tlirouch London Eyes,"
Three Banks Review, IJo* 2B, Dec« 1955# pp* 21-57«
S c o t t , 1.0*, "The I^ecional Impact of Monetary Policy,"
Quarterly Journa.1
of Economics, LXIXf May, 195S, pp^ S69-84<>
tf
S e l t z e r , L«iu,
The
ClSTnced
Lnvlronnient of Monetary-Bankinc
Policy^ 11 Arierlcan Kconomic review, Supplement, XXXVI,
::ay, 1946# pp. 6fe-WI
Seltzer p f t Is a Rise In I n t e r e s t Kates Desirable or I n e v i t a b l e ? "
American Economic Heview, XXXV, Dec* f 1945* pp* 831-50*
Slrcnohs, felC*1, kiSales bT Governraent Secuirities to f e d e r a l
Reserve 1 anks under Remirclase Arreenents," Journal of
Finance, I A , ^arch, 1954, pp, 23-40*
SlrmonsT^^The Structure of Postwar Money Karkets, 11 Southern
Econoinic J o u r n a l , XVII, A p r i l , 1951, pp* 409-21.
Snavely, IV• P*, "The Asset ueserve Plan: An Apprais*. 1,*
Soutliern Economic J o u r n a l , XXI, A p r i l , 1955 o
Sproul, Allan, "tteflectlons of a Central I a n k e r / ' American
Economic Hevley;, Supple tent, XLVI, llay, 1956*
Sproul, "Prosperity ana S t a b i l i t y : Central Banks and Monetary
P o l i c y / Yale llpylev* XIV, \ i n t e r , 1956, pp. 178-90*
Symposium, "The Controversy over Monetary Policy, n Reylev; of
Economics and S t a t i s t i c s , XXXI11, Auc*, 1951, pp* 170-205;
cor:UiierAts by ^*A^ doldenv/eiser, I b i d , , Hov*, 1951a
Tobin, Jai^es, "Monetary Policy
and the Management of the Public
Debt: the Patrnan I n q u i r y , n Review of Economics and
S t a t i s t i c s , XXXV, Llay, 1953, pp* W^&K
Economics 241, Spring* 1956o
33*
34o
35.
36«
37a
38.
®^
6«
Walker, C«E«, "Federal Reserve Policy and the Structure of
Io n
t e r e s t Rates on Government S e c u r i t i e s , " Quarterly Journal
f
kconomios, LXVIII, Feb., 1954, pp« 19-421
WallTeh, ILC*, "Recent Monetary Policies in the United S t a t e s , "
Ainerican Ixonomic ReviewJ Supplement, XLII1, Hay, 1953,
ppT127=ll*
Uallich, wDebt Management as an Instrunent of Kconomlc Control,"
Auorlcan Kcononiic Review, AXXVI, June, 1946*
wood, Eimer, vfcecent Monetary Policies," Journal of Finance,
X, Sept*, 19&a
~
Wood, iiamsey, "Government Credit CommitKicnts and Economic
S t a b i l i t y , " Journal of Finance, XI, Hay, 1956.
Youncdaiil, C^R*, "Monetary" Policy in Recent Years,11 American
Economic Review, Supplement, XLV, Lay, 1955, pp» 402-Q8*
Som? Recent Favelm
Perapectivea on Traditional Monetary Policy
Books:
!•
2^
&
4*
5«
6«
7*
0*
9*
1011*
13*
14*
Brecher, Irving, Monetary and Fiscal piourht and Policy In
Canada, 1919^3^ Toronto, Universiiy or Toronto Press, 1956#
Dalton, Hugjti, frTnciples of Public Finance * London,
Routledge, 4tii rev. ed*, 1954.
Hanson, J*L«, Monetary Theory and Practice* London, 1956*
Hicks, U*1U, British Public Finances^# London: Home University
Library, 1954, chap-"TlT
I l e r s i c , A»R*, Governniont Finance and f i s c a l Policy i n Postwar
Britain^ London, Staples Press, lO5S«
International
Tanking Svmrior School:
a#
International Esjikinr and Foreifii Trade (Cth Session}^
London, liiiroja, Tt^5fc*
t#
'fflS Pos'fa^ ^r Functioning of Lanklnr -*- Return to Tformal?
Madrid, Consejo Superior rancario, 1^55, pp. 17-38,
231-45•
International I^onetary i;%und, The Revival o>f Uonetai^7^ Policy#
V;ashintc;ton, 1953*
Macrae, Konnan, London Capital Larkct: I t s Structure, Strains
and hanareiaent* tiondon, stiaples Press, Id55*
IJeureTd, E,P«, 3>ank of Canada Operations, 1935-54* Toronto,
University oi Toronto Press, 13&5«
Kevin, Edward, The r.echanlan of Cheap Llonej, !931-3VJ« Cardiff,
University o f u'ales" Press,"T954<
iJevin, The Problem of national Debt, Cardiff, University of
Viiales Press, l ^ l T
3ayers f R«S» (Kd«), Fankinr in the t r l t l s h Corxaonv/ealthe
London, Oxford Univerait^
it^ ??ress, 1§15$£
V.allich, HaC, The Halnsorinrg of German Recovery* ITev; Haven,
Yale UniversTEy Press, l^oi>«
'.llson, J^S.C*, French lankinr structiire and Credit Policy «
Cambridge, Harvard University Press, l^STSS^
Economics 241, Spring* 1956*
Articles*
1«
2o
5*
4.
5*
6O
7*
8«
9«
10«
llo
12*
13o
14»
15*
16*
17«
111«
Bopp, K«,R*, "Central Banking Objectives, Guides, and tr
Journal of Finance, IX, Liarch, 1954, pp. 3~12o
Cricks X**lK
, "Government Finance as an Instrument of Monetary
Policy, r i in monetary and Bankinr Pollcieso iV Comparative
Study of ..orid Arena's# London, I n s t i t u t e of^r
1S65 , pp Ife7
Crick, trOl£ and I lev; Instruments of llonctsry P o l i c y , " Soclete
d•Lconoraie Politiquo de Keliclque (in I\nfllsh, I'arch, 1U52*
Dacey, w» Hanninc/ "The* Effect ivenoss of Danlc R a t e / 1 Lloyd a
Bank Revlevj# llo# 36^ Aprils 1955, pp» 14-24*
Kramer, Robert lL*^ fl ;.ost Geruan iicnetary Policy^ 1948-544><f
Journal of p o l i t i c a l Lconorriy» ULIII^ February^ 1955*
Grerory^ S i r Theodore, "^he Present Position of Central Batiks11
Stamp MeinoriaL Lecture^ London, The Athlone P r e s s , 1955^
Harrod, R>F., "Current Pi^ofclexns and Their Impact on 1956, n
D i s t r i c t Bank Review, Ko, 116, Dec^ , 1955, pp* 5-17*
Ha^trey, R.Go, v'Bank Kate or R e s t r i c t i o n of Credit? n Bankers *
Lfa(r;aglne, London, October, 1955*
Johnson, Harry G* and others^ Monetary Policy* A Syxaposlura*
Oxford, ! a s l l Blackwell,
""
Kock# lull* do, n The liecent Revival of Monetary Policy," i n
Central Banking:* London, Staples Press, 3d ed« * 1954*
Me Ivor I ffVcT, anS Panabalier, J»I1«* "Canadian P o s t w a r Monetary
Policy^ 1946-52," Can ^4Ian Journal of Econoiaic and
P o l i t i c a l Science^ x::/ r!ay, 1^54, pp. 2T57-26j comoent by
H*Co liastinahj,
i b i d * , XXI, AU{>, 1955^ pp*. 563«64«>
tHor^m, E*V<>, ftThe National Debt and honctary Policy, 11 Lloyds
Bank Roview, Uo^ S7, July f 1955, pp* 18-35.
Newlyn, \ ^ T * , 1w1 The Credit Squeeze i n the Li(-ht of Basic
Principles, Bankers* La^azine (London), Ocfc* 1955*
Pat e l , I«G«, fl Monetary Policy in' Postwar Years," iiiF— Staff
Papers> I I I , A p r i l , 1955
Rowan, i)7c^ "Cheap Honey: The Lnellsfc i^perlment of 1945-47,°
Banca llazioxmle del Lavoro, Quarterly Iievley;, IV,
Oct.-DGC*, 1951, pp« 213-25*
S a y e r s , R . S . , "Central Lanlcinj; In F r i t a l n Today," in B r i t i s h
Banking Today^ ( I n s t i t u t e of Bankers, Sprlnr L e c t u r e s , 1955}
London, T5B2C"
Saj/crs, "Central Iankin(
in tiie Llfiit oi Hecent B r i t i s h and
American Experience, 1 * Quarterly Journal of Economics,
LXIII, May, 1949, pp* I ( J B - 2 1 1 /
Lconoirilc Growth and Change: Theoretical Analyses
Books:
1*
2o
Doxnar, E^D., Theories of Economic Growth* New York, Oxford
University P r e s s , (In p r e s s ; 19S6.
P e l l n e r , \V»J*, Trends and Cycles In Economic Activity* An
Introduc11 onTb 3?roT51exns i n Kcpnonic' GrovJtih» NtY«, Ilol¥, 1956•
S*
Gordon, R*A«, Business Fliactuationso
Chaps. 4-5*
New York, Harper^ 1952,
Economics 241 $» Spring 9 19569
4a
5»
6*
7«
8^
9«
10a
li
6*
Ilainberg* D a n i e l , Kconomlc Grouth and I n s t a b i l i t y » i\ Study i n
the Problem of C a p i t a l AccupulxHTTon# EraglpyaSit /~and t lie
TyusIhe ss tycTe.""" flow Sbrlc, IJorfcon, 195l5t
Hanson|, A»IL, and Cleroenco, R»V«, Readings i n Lusiness Cycles
and Lational Incom> How YoJc * iJorton, T!J5S»
liar r o d / iUP«' V Econon^ .ySsajSs Ne\7 York, Harcourt, Brace* 1955*
Iiarrod^ Tov;ards'' a' ,ff ffi&Jff"'^<^nonic£. London, iiacralllan^ 1948o
Hicks, JM* p ^ C o n ^ M ^ u t T o n ^ t t ^
of the Tirade Cycle»
London, Clarendon"'FreWsV WSlJT^
Kuznets, Simon, Econorilc
Clianxe# Ilrw York, Norton, 19b3«
Lewis, v,#At, The<>nE^ory ol^'cononlc Growths Hoiiiowood, Irv;in, 1955*
Lundber^:, Erife^ Kd«# Tno I ^ i n e s ^ Cycle in tbe^ P o s t w a r V l d
Hew York, St# Lav t i n t ' s Press, 19o6.
Robinson, Joan, The Rate o£ I n t e r e s t and Other Eaaays*
IJew York, IIor^Eon, 1§5S
Articles:
Abramovitz, IU» tfLconomics of Growth," in A Survey of Contemporary Economies, Vol* II* ed«, by DoFo Haley*
f S l
!&ATSf5S
!&vAn#TS5S
Brems, Hans, "How Induced i s Induced Investment? tt LKeviev/ 1of
Economics and S t a t i s t i c s , XXXVII, Aurust, 1955, pp e ^6 P77 O
3« Burns, A*Ro, ^flicks and tlie Real Cycle," Journal, of P o l i t i c a l
Lconogay, LX, February, 13E&.
4* Eclcaus, Fi»S», "The Acceleration Principle Heconsidered, n
Quarterly Journal of Economics, LXVII, May, 1953, pp« 209-30a
5* F e l i n e r , \:«J*, lfLoiif:^orSlllll^ehdehcie3 in Private Capital
Formation: The Rate of Growth and Capital Coefficients,
Conference on Research in Income andf J.ealth^ Vol* 16o
'Princeton, Trineeton Orilvc-rsilfcy PressI"X§S?«ri
6* P e l s , Rendiga, "Tlie Theory of Business Cycles, Quarterly
Journal of Econoialcs, LXVI, Fe"b*, 1952, pp* 25^3S
7* Flslier, G.H*,
"A Survey of the TLeory of Induced Investment,
1900-40,ft Southern Economic Journal, XVIII, A p r i l , 1952,
pp« 474-94.
8* Goodwin, R•!.!•, "The Erdblet] of Trend and Cycle, n Yorkshire
B u l l e t i n of Economic and Social Itesearch, 1953, ppl 8^-97©
9« Gurle5rf J«G«, arxi Shav;,"" TTrs.V"1*Financial Aspects or Lconomic
Development," American Economic iievie\7, XLV^ Sept«,# 1955,
pp* 515-38*
10^ lianatn, A*H*# "Post-Keynesian iiconomics#n A:aerican Economic
Review, XLV, June^ 1955, pp. 36O72*
11^ Kaldor^ IU# "Thef t Relation of Economic Growth and Cyclical
Fluetnations # Economic Joiirnal* LXIV* r.arch # 1954^
12* Knox^ A.i>#, flThe AcceleraFion^^Inciple
and the Theory of
Investment: ^A Survey/ 1 Economical XIX, August^ 1952»
13 • Kuznets* Simon^""""Tof/ara a Theory of Econoraic Grov/th#fl in
national Policy for Ecgnaaic v; elf are at Home and Abroad,
ed^ "by tvdbert Lelcaclinian % Garden City, Double day, Borai:, 1955©
14« Kuznets* "Lconomic Growth and Income Inequality," Anerican
Economic Reviev/, LXV, Ilarch, 1955*
15o Katthows, R*C#6*# "Capital Stock Adjustment
Theories of the
Trade Cycle and the Problem of Policy/ 1 In Popt«-ILoyneslan
Economics# ed» by K^K© Kurihara* Hew rrunswlck, Rutgers
University Press> 1954«
2*
Economics 241, Sprino* 1956a
16*
17c
18o
190
20«
21o
22*
IV*
S
Meyer* J.IU, and Kuh, Edwin, "Acceleration
and Kclated Theories
n
of
Investment:
An
Empirical
Enquiry,
Reviev;
of Economics
8111(3
S t a t i s t i c s , XXXVII, Aufust, 1955, ppa 217-TKJ.
KorEon, F.J£, , J r « , "Capital Hie or y and Progressive Equilibrium*
Anerlcim Economic Review, Sup^lenont, XLI* May, 1951,
pp* 145-56,
Power# Jolin IU, "Capital Intensity and Lconomic Growth,11
American licononlc Ueyiew, Supplenent, XLV, 1&$P 1955^
pp» 197-20^; discussion X)fj:lb* Domai^ and T*C« Sclaellinf,
», pp 2 2lff7
Robertson, D»H#, Phourhts on Teetinc Sorje Important
Q\xarterly Jo^arnal of Economics» LXVIII# Hay, 1954, pp<»
Viilson, T», "Cyclical ari3 Autonomous Inducencnts to Invest, w
Oxford Economic Papers, V, ITarch, 195S, pp* 65-89*
Youncaon, A«J«, "Marsnali on Economic Crovvth,11 Scottish Journ t
of P o l i t i c a l Economy, I I , October, 1955^
Youn^son, ^Investment Decislona, Trade Cycle, and Trend,"
Oxford Economic papers, VI, Scut*, 1954, pp* 285-305*
Stalilits^ and g
growtht Business Fluctuations and Government
Stat?illzailon Polrcles
Ao Honetary^Fiscal Measureg v^» Direct Controls
Public Documents:
1*
2«
1«
a
5«
4«
5*
6tt
7e
8*
9«
Econoiidc Report of the President Transmitted to Congress*
January, 1956» \/asiiiibgton, GPO, 1956« See a l s o subsequent
Hearinra on tixis Report*
U,S« Congress, Joint Conimlttee on the Economic Report, Federal
T
Policy for Economic Growth and StaMlityo Papers
i t t e d by p a n e l i s t s appearTn^ ¥eTore the Subcomraittee
on Tax Policy* Nov* 9, 1955 (84 Concress, 1 Session)o
Vvashington, GPO, 1955.
Books:
Colin, Gerhard, Essays i n Public Finance and Fiscal Policy*
llexs York, Oxford, itaiversity "Press, 1SF5^
Coxnmittee for Economic Development, Defense Against Recessions
Policy for Greater Kcononiic StabilCritiy^ ^»^7, flarcii, J954o
Comraittee for Economic i)evQlQffiient» Proplcnis in Anti~Recession
Policy. Ne* York, 1954•
Director, Aaron (ed#), jPefenaey Controls and I n f l a t i o n a
Chicago, University olT'tlKtcaGO Press, 19SS*
Due, John F«, Government Finance:
An I.conomic Analysis^
m4mm
Hone wood, Irwin, 19S4»
Friediiian, Hilton, Essays in Positive Economics« Chicago,
University of Ctiicafo TFess, 19&3, pp« li7-32ii
Eansen, A»n», Economic Policy and Full Employtwnt* Hew York^
Llearaw-Hlll, 1947 •
Lundtoerc, Erik, Business Cycles and Economic Policy« London,
Allen and Unv/in, 1&&5.
llaxwell, J*»A*, Fiscal Policy^ I t s Techniques and I n s t i t u t i o n a l
Setting* New York#l i l o l t , 19*5S7
Economics 241^ S p r i n c * 1956.
lOo
11«
12,
10 >
Slxaons, H<>C«, Economic P o l i c y f o r a Free SreJLetg> C h l c a c o ,
U n i v e r s i t y o£ dMcaf 6 fresV,t9?P7 *
S m i t h i e s ^ A** and B u t t e r s , JMU (Lds*)# Readings i n F i s c a l
Policy* Horaev/ood, Irwln* 1955o
Williams I, J*IU, Economic .Policy I n a Chancing ftprlfl* Hew
York* Oxford U n i v e r s i t y P r e s s , lUS'Su
Articles:
1*
Alexander, S*S«» "Opposition ton Deficit Spending for the
Prevention of Unemployment, ehapt* 2 i n Income9
Employment fi and fubllc P o l i c y Essays in Honor of
A * H * tisn senTTTew l o r St^Jor to n # 194i, ,*
g, K«vE^ S l i c h t e r f S#II.»# and liansen^ A^IU# "Tlie
American Economy i n 1960^ Review of Kconomlcs and
Stt ait its tii c s * XXXV,, Nov.,
N
7ft
1 9 555577**TTP ^
2F7-T551
2F7T55!
E l l i s , H*So# and other s^ nA Syroposi'um on the
Economic Report
n
of
the
President
and
Related
Doc\ments*
Review
- f Economics
and
S t a t i s t i c a l XXXVI# Au£>xst# 1954*
ssxzs^za^ EtETT"
The Rehabilitation of Monetary
y Theory
y in
#
11
Sweden** Oxford Economic Pagers,»
g , » V1I## Peb*,, 1955,, pp«
pp
Gxxrley^ J.C^^WisoalL
^^Wi
PollcjTIn
TIn aa GrowlncGEconoxay^"" Journal
jpf P o l i t i c a l Economy^ LXI# Dec« , 19531 and coxnraenT by Vt« L»
Sraitix arid r e i c i n d e r # ibid^j, LXII^ October, 1954^
Harriss, C^L^, "Government
Expondltiires and the Lonc^R^n Goals
of Jxonoinic Growth,*1 American Lconoiiiic Kevle\?#
tlay, 1956
Hart* A*Go^ and o t h e r s , flThe Autornaticlty of P\ill Employment
\mder the Assumption of Diminished Defense Expenditures,**
Amerlcgft Econonlc Review^ Supplements XLIV* V&y9 1954^
8<> Laursari, Svend^
"Lundberg on Business Cycles and Public
Policy/ 1 quarterly Journal of Economics, L/lIX, May, 1955^
pp« 221-3TI
"
~™
9« Slichter^ S^II* ^ "Erealiup of the l u s l n e s s Cycle^" Harvard
Business Kevlevr^ X}.XIII, Jiin«**Feb*t 1955*
10* SiniVli^ Dan T*# "Govcrni^ent Expenditures md the Short-Run
Goal of Steady Growth," American Lconomic Review $
XLVI, May, fl1956.
~~
11^ S n i t h i e s , A« ^ The Twin Objectives
of Tax Reduction and
Reduction of Budget Deficit, 1 1 n a t i o n a l Tax Journal^
VIII, March, 1955,
pp. 29-3&
~
n
12^ \;hittl©sey,
G#R«,
Tlie
Monetary
Role
in
Ealanced
Lconomic
Growth,11 ABierican Lconomic Kevlew» oupplej.ient, XLVI,
lltvjt 1956*
Inf latlon-Defla tion and Problems of V.aco^Prlce Relations
Books t
1*
2*
3,.
Browi, A^J^, TIier Great I n f l a t i o n , 1959-51» Mew York,
Oxford University Press, 195B*
Charlesworth, JI«K», The hcononlca of Repressed Inf la tion o
London, Allen & Uhv/in,T 1955®
Dunlop, J d T o , V^a^e Deternilnation jffder
Hew York^ Ilacmlllan, 1944^
Economics 241 # Spring* 1956a
4»
5*
60
Ilav/trey, R«G», Groses Purposes In wa^e Policyo London,
w
Longmans* 13l>!>,
*~
T u r v e y , Ralph (Ed* ) , ^S£2£
£
£
i
i
£ 2 JJ11**0?. F u l l
J
Hodpo*
9 ^ ~Impact
"
b r i gLondon,
h t , D»LU
(edo),1 The
of tho Unions New York*
(d
Ilarcourt, Brace, 19"Sl*
Articles;
!*>
Aschelm, Joseph, "Price-Level S t a b i l i t y a t Pull Eaplojnent:
Recent American Experience," Oxford Ecpnosdc Papers»
VII, Oct., 1955, pp^ 265-71*
2o Brom, E.Ho Phelps,
and Roberta, B«C«, "Va^es Poll y i n
w
Great Britain^
IJLo^£
Bank Review* Jan I, 1952*
3o B l a i r , J.M.,tf t f Eccnoi3^c<ancenlralI^^
Depression Price
Rif:ldity F Ainorican Economic^ Review, S,uggleiaent» XLV,
Llay, 1945, ppT^S^SST'^
4«. Cliristenson^ C»L», "Variations in t h e InfId; ionary Force of
Bargainings* itoierican Econp3cai£ Revie\7y Supplement^ XLIV,
May, 1954, pp., 5 4 7 - 8 ^ ^
""
5*> Copland^ D«B»j» "The Fall Employment
Economy, with Special
Reference to i.agos Policy^11 Oxford Economic Papers, V*
Oct., 1953, pp. 221-34.
"~~
6,, Dtmlop# J«T«, ft*uace-Price delations at Iligji-Levsl Exaployinent
American Econggaic Review, 2^210^0111^^ XXXVII^ May, 1947,.
oTTrlce and V.ace
7 c 7
c F l e x i b i l i t yy on
i n n
3
Cyclical Contraction, Quarter3^ Journal of Economics$>
LXIV^ I-Iov.,n 1950, pp,, 5l)6^6iar
80 Hicks, J*R*, Tha Economic Foundation of W&oe Policy,
Kconomlc Journal^ Mfi/4 "Sepkmk^r^ &£&*
9* llor'Eon1,"T/'*A «>, wKeyheslanlsni and Inflationj." Journal jojf
Po 1111 ca 1 Kconpny9 LIX, June* 1951, pp* 2"5SP5F7^
10^ Planning PfiSP^'^g*
Vol^> XXI, Nos» 590-*91o nIIev; Writings on
1
TaGes,^
F E S T T - I I , December 3J2# 1955*
11* Kees, Albert, 1 lfV.age Levels under Conditions of Long-Run . ••ull
toployment/
Ainericyi Economic Review^ XLIII^ May, 1963*
12a Robertson, D«II«, *fThe ^oBT€S*^T^Gr"e¥pinc I n f l a t i o n , " The
Tinea Reylecy of Industry, Ho» 123, March, 1955^ ppQ Il'-iv«
13* Sierelinan, JLouls, n l ^ l a t l o n Control through a national -age
Policy," Journal of Finance, VII, klarch, 1952* pp., 66-76,
14» S l i c h t e r , S.BT*1, HDb W^T^ige^jbclnc Arrancements in11 the
Aiiierican Labor Ilorkot Have an Inflationary Bias? American
Econonlc Review, Supgloxnent^ XLIV, May, 19S4, pp* 'S^^^T^
PART I I I l
VI•
IIITERI^TIOHAL I COIJOIIICS
International Trade Theory «--~ Optional i.ackpround Readlnp;
Hatoerler, G^, ftA Survey of International Trade Theory11 (Special
Papers in International Economics, Ho* 1) Princeton,
InternaOTonai Finance Section, .Princeton University, S e p t . , 1955
Ketzler, L^A«, "The Theory of International Traded in A Survey of
Contenporary Economics, I . AEA Readlnca Series* Phliadelphla.
Blakiaton, 1948.
Econoxaics 241, Spring 1956«
1
Vlner, Jacobs11 nInternational
Trade Theory and I t s Present Day
Relevance, in Economics and Public Policy (Lectures, 1954)
Y l i t
E l i
l9$5i'
~
VII•
Payments Median 1 sin and Problems of Exchanpe-»Rate Policy
Books t
1*
2*
3o
Bloomfleld, A*I*, "Speculative and 11
Flight Movements of Capital
in .ostwar International Finance (Studies i n International
Finance, lfcu 3)» Princeton, International Finance s e c t i o n ,
Princeton University, 1954*
Meade, J.E«, The Balance of Payments* llov/ York, Oxford
University Press, 1951* ~
Hikesell* R*F», Foreign Exchange i n the Postimr
World* Hev;
York, Twentieth Century FunaP T§5&*~~mm
Articles:
1»
2*
Alexander, S#S« > <f Effects of a Devaluation on
IMF T*-> Staff Papers * I I , April, 1952, pp*
Ellsv/ortti, P#Te, "Excliance Rates and Excliange
Review of Economics and S t a t i s t i c s ^ XX};iI,
PP« i-isr
*"
a Trade Balance, w
263-78.
Stability,"
Jan*, 1950,
5<» Harberger, A*Co, ffC\3rrency Depreciation, Incocae and the
Balance of Trade," Journal of P o l i t i c a l Economy, LVIII,
February, 1950, pp* 4^-€>t>«
4* Henderson, Sir Hutoert, tfT3ae Function of Exchange Kates, 11
Oxl'ord Economic Papery, January, 1949* Reprinted in The
Inter4var Years and other Essays, ed« toy Sir Henry Clay*
Oxford, Cl^en^oiTTress,
1 ^ 5 , pp« 357-76•
5« Lutz, F»A«, wThe Case for Flexible Exchange Rates, n ^anca
Hazionale del Lavoro, Quarterly Review, VII, Deceidber, 1954 t
ppTTTSS^T n
6« Machlup,
F r i t z , Ruiatlve Prices and Aggregate Spending i n the
Analysis of Devaluation," American goonoralc Review, XLV,
June, 1955, pp* 25&-78»
~-~~
~——
7o Meade, J^E*, "The Case for Variable Exchange Rates," Three
Darjtks Review, Septeitflbor, 1J55, pp« 3-27•
8# Llicfiae"ly# Uiciiae 1 9 "Doxnestlc Effects of Devaluation under
Repressed Inflation," Journal of P o l i t i c a l Econoiay, LXII,
December, 1955, pp* 512-24*
9, Morgan, E*V», "The Theory of Flexible Exchance Rates,"
American Economic Review, XLV, June, 1955, pp* 279*«95«
Orcufet, Guy, "Exchange1 Rate Adjustment and Relative Size of the
Depreciating B l o c / Review of Economics and S t a t i s t i c s ,
XXXVII, February, 19$S, ppVT-^jC
11* Smith, Xi.L* "Effects 1 of Exchange Rate Adjustments on the
Standard of Living, * American Economic Review, XLIV,
Decexriber, 1954, pp* 808-25; comment l>y G* Kleiner, i b i d . ,
XLV, December, 1955, pp« 943-45.
Kccdecilet
24"'•.*> bx*.? i i . i .x'.'*•• '•;:.C
VI11 o £ E M S ^
fi;?i^Ei iMliiai
Put) l i e
!•
Do o uiao nt a ?
U-»S^ CQn&isaion on Foreign Ucononic P o l i c y (Randall Coxrirw
a h i ^ T t o n , Feb.-, 19Ii4? c h s , 1^ ';># 1 0 ,
1).
^riril t t c e on Foreign economic P o l i c y ,
-'-.ton^ GPO* 19 36
I I e a r i n | - a ^ , Uov., 9-1*7, 1956, Uaahlrifton, GFO, 1955,
~ ~ p o 7 " l 3 1 - 5 3 ( T r i f f l n ) ; 176-87 ( t o r n s ' ^ e l n ) ;
451-64 ( A d l e r ) : 500-22 ( K i n d l e t e r ^ s r }j and
505-610 (VlnerK
Dookas
Day, A.C*L** The Fjjtur.c of 3ter3JLr|£.v
Ixmdon, Oxford
2.,
HaberleP; Go, Cm^rencj Cpnvort 11*13.1 ty<.
Ilev/ York^ Aaerican
Enterprise " n "
li¥r^^"^
3* K i n d l e t e r c e r , G , F , , Dollar Shortaceu lle\: Y:>rk^ ;,iley^ 1955,
4<> Robblns^ LoC*, The Ecoflc'SroFlE'Tl'ie Twentieth Centvry*
London, i.^acmlllan, xv o4.
So Robertson, DoIK, jUritain i n t h e U f l c . Ec^oirioxfiy•> Loruion.,,
Alien and U
1«
2o
3o
4,
5*
8.,
9o
Articloa:
Balogih, T*.« ttThe Dollar Sliortae© Once M o r e w
l of £ l i i l
I
J
Eoirls^iln, IKTf^TT^^icrTcin^FF^^^
and tiie Dollar
Payirienta Problem/ 1 Iievlew of Economics ana S t a t i s t i c s >
...XAVII, Hay, 1955,, p ~ I G i ^ O T " " " " " ~ ~^~~ ~
Rruton* H»J^ "Productivity,
the Trade 1 a lance anc fche
Terras of Trade, n Ecqnoxaia totl'^jaaionalej. VIII,,
Au£v.st* 1955. pp« •lUS-SIT^' ^ ^"^ — — —
Day,, A*CL,, ^V.Iiat Kind of Convortilili':c;yV n , tMll:r
Dank heview^ Aprils 1952*
EllIaT^H .S^'r^Changinc
Concepts of Convertibility ond tria
Future of1 Currencies," Jqumial oi I^iance^ Xv
May, 1955, pp, -180-94,
Hicks ? J«R»a ftAn 3JnE.Ufur*al Lecture .,fs Cccford EconoroSc
£
111, J u n ^ '1953, pp,. 1 1 7 - 3 ^
f!
t i i t y I P i ^ j ee
$
1
Trends and the*. Trado Dolar.ce** i;conornic Journa}^
LXIV^ Sept.. f 1054, pp. 4C2-G5o -•-••——-—-*———
Kindleberger.1 C»Vo& "The Position am Prospects d'
S t e r l i n g / Journal of Jpoliticsal Economy, LXIII,. Peb,,, 1955c
LetichOp J-J1« /^DifferepftTaT'Hatas
cf Productivity Growfeli
and I n t e r n a t i o n a l Imbalance^11 (Xiartorly Journal* of
Eoonor.ricfj 2£X, Sprier ,» 195*
"A Loetoro on nho D o l l a r .Pro... u : x^
10*
MacDoucall, S i r Dor^ilu,
lie
MacKTupi^l^Fl/fc ^,0 " D o l l a ?r ^hortcwe and D i s p a r i t i e s i n :;;?.o
fircv;t;h o: Productiw ty,," .' eo t t l s J i Jojirnal^ of Pol:t >• 'ic(il
LconoHi^rf 1^ Octol:cr% 1954/*"p^^- "S"ScPu"C ™v
IS*
14.,
EarjcoFToT*! 935 7"'™' *
Vlner* i\ # rtThe Kcle o:ls tl\o United S t a t e s i n the: -or'":.,
Econony*" i n n a t i o n a l r o l l e v Ijor Jicono^lc ^olfarc^ :.ih Jlo::e
and^ Abroad> eJT^* l;™ir, XeT^acil^ariTT-aj^6n^lTll^r^"Dbu •: 1'ouH7",.'""
Doran, T?fB5^ clian.. 5; coK.iont 'bj Jo II.. -IlliaxnSo
V/llliair.ajs J- !I, « ^Eccnoinle s t a b i l i t y i n tl.io Modern l.vr-lc!./*
Starip i'.ot.iorial l ^ e c t i i r c 1952., London., Tne AtJilone l-rraa3^ 12b:ov^rnax oi hy.iv,\vz:e,. A , ifcvy
rales:
l i > ^o- p"^... x&£«••(/J-
^£21'^ l^inancjlal i\^
__
Books:
Buchanan^ N*S»* onci Kllit;
2O
6,;
fi
li»$» # ^P^rO!tS^l"^3
^ ° ^-^onc^rlc
Ilellei:^ i'TTu^^ and o t h e r s (Kd3-») Sajj/ln;;s In Slio ^ o d e r n
JiCoriOLiy#i i-iini'iea^wlia v Univoral!^y"l!)^*'f/rfnn6sota Tr^iac
19b»* Pto H I ,
n^':iri"T5ank^
m Undeveloped :.ioney I.!arl<c t^-.
Q Xcutta/rioo&iiinci,
rioo&iiinci, I ^ a , , X^b2T^
WallWft* HoCe. >-, Monetary probloios of an Export Kconos::;/:
Cub an E.x p er
^
*
Articles;
15
2,,
3-,
4..
So
60
Aubrey« H,G^^ n "Investment Decislona In
p
Co\3ri.trles^ In Capital For ration a r i Econasle Grc-v;th
ed*, by I-U Abrambvxtko"" l^Hice^Eon, PrlnceFon
£>rcs5, 1955^ pp,> 397-440o
Bonxiani^ Ftederic^ "Deficit Finance In Asia/* j ^ i ^ g jy2^
Revie\v» January f 11)55., pp-, 10-28w
"""—-—
EernaEiTn, E«,M.,
and
o
t
h
e
r
s
,
"Lconomic
Dovolonment
^/.-v.h
t
S t a b i l i t y / ; 1 IMF1— S i ^ ^ J ^ a p e r s ^ IV, M r u a q % 105iBlack* E.a\<,^ "lEorXJEiTience^oi^
LoxidSi'1
li!"iiSi£ ^3§£te£lj 3OYA2E^ Winter^ 105G1
Das Gupta, 1 1A«K* 9 ana o'tKers, " K o t i l l ^ a t i o n of Domestic*
Capital,
In TiOblllzatlon
of jJ9nej£l£ fi§£i,l§l- Kef>orts
MM
r
and Doc\iraentB oTTEi^ lM
Par "By* Lanf;kok'* 19 £v
Herenchak^ Walter, " I n f l a t i o n in an Export Economy,/*
Southern Economic Journal.^ XXI, July,. 1954* pP»- 1-14
Economies 241$ Sprlnc* 1956...
7o
8*
9&
0»
Patel^ L G , # "1 S e l e c t i v e Credit Controls In Underdeveloped
Kconomies/
BJ£---«taff faj2ws # I I I , October* 1952,
pp* 73-84• ft
Pazosu F e l i p e , Kconomlc Developcient and Financial S t a b i l i t y
Itfjp—~Staff Pf ors,! III^i October, 1953^ pp^ 228-53*
Trir?In^ aolSeFt 9 ^""Central
L'anklnf. and Monetary r.Ianacernont
i n Latin Ar.\evloa,if In Economic Problems of Latin America,
V«allich^ IUC«# f! Underdeveloped
Countries and the monetary
Llocliianisxni}^ In ]^noy# frro.dQ» and Economic £rovjth
(Williams F e a t s c E r l r t ) * ¥ u Iorl^ # HicmTrian^ I^SL ^
pp. 15-52»
Pall
lv•"'•%.
H o t e t . P r e - r e q u i s l t e r e a d i n g (for thca^ who a r e d e f i c i e n t
g r a d u a t e p r e p a r a t i o n ' I n tionay n>:o rarjJjvz; t
1«
2*
5*
4o
In 'under-
S&yttTSt h^ 5 , f Aiixrieun iiauKJjij- ^;iiei,« 'VUirorxcen r*:-c : j s. Oxford f;
1949,
F e d e r a l 2S£S£Z£ ^SL^^H* i S £ F2WJdlJ®SJi $££{ i f "i^ r ^J52H» *,n ^,v B o a r < c J
oF"^ovornorTjif 1 5 3 ^ * " * ""*" ~"~"'~ ~~"* •""-*
Banking Studios,, Foard of Governors* F e d e r a l Roserve Vyateia* 1941<
Any one a t an oar (J t e x t b o o k i n rnonc;r aiui t a n k i n g suoh a a :
Kg q u i r e d Reading L i s t
Books
lo
Clarke Eaidc:;%, Smithies* a t aJU i^bi^orjal ancl J ^ t ^ ^ J ^ p n a i
Measures for F u l l liuiployraent* VivOT^
Aff ai r 8 <s Decernoor 11*49 •
2.s
Coldenwelse:r f Et » A f r i c a n Konet&ry P o l i c y , Oho 8-12,. (pp : , 131-234} f
5«
Hans en, A I vi n K * :
cu Monetary Theory arid F i s c a l PoJicy* ,4c'3ruv/- H1I i.Fc Y* f 1949.
* ^IlHiiLS ..'2L 25£JtS£S,* MoGraw-i;ixl r h„ i^n ,u-)M()
bt
4»
H a r r i s ^ S* H„, ( ^ c , ) . The New Economics^ Knopf» II* Y* . 19^7^
P a r t I I I (The aune^rXTFheory: I^fVeTT^^s., Chs* 11-1?>)-
50
Harrod, K* F« * £ H l S £ B ^ M2fK2£fr Pacini 13an. 19£8, p p . £37-255*
6-o
H e l l e r , Boddy* Kolson* (ed3c)» ^i^LtliCili i l l .S. li££iS££i 1:5'C:^2HZ: A
Symgoslum^ U n i v e r s i t y of MlnnisoSa I%83o/7 iHlmeapoTfs^. iQSS^
p p T s ^ S J 1^3-155; 169-182: 3£5 ?C2,
7*
Keynes* J* foU* ; ^£H l i ; B££ l}®£p££l* l^~:vcovr4:f
Oo
Keynes* Jo Me* A T r e a t i s e en Mono;;* Par c o u r t » 1930* Chs- 9-1;% a i d
Ch* 30 (Vol, T^fTTK^oT'VoT.,
2, p p , 1 4 0 - 2 0 0 ) .
9o
Keynes, J* M« * General Theory of Employment, I n t e r e s t and Money^
Harcourt, 1 9 3 F T ^
372^384,
I&24* p p , HI-Co, Zo?~l 31<
Ec^Qgdcg^ 242, (coiitImied }
10 • Lane and Hlejneranux, R e a d i e s i n }2nier p r i s e arci S e c u l a r Chance*
I r w i n , i953<. Uotc p~jrt o c u l a r l y t n e i o l l r v . j . c ^ c h a p t e r s :
a . Ne.C, n r > I c er s i n P r i n c e arid England, 1540-1640," pp* 292~321o
b t H a m i l t o n , P r o f i t Inflr\t3on and t h e I n d u s t r i a l Revolution** 1
pp o
O ^ x- *•* f J*J O ».
Co Gl&pham* f: bat:k of England i n t h e 18 5h C e n t u r y " op,> 350-53*
cL s l l b e r l i n y , , ''Ricardo and the B u l l i o n Report * pp« 360-390©
ao L i l l i a n s , , " " C r i s i s of cho Gold s t a n d a r d , " pp* 391-406.
art son, Dc, }U* Essays i n Monetary Theory* Kinf:, 1940* Ch« 1 , 6,
11 o Kobert
el:io 11 (pp* 1*33j ^-"J'f; l T s - 1 8 0 *
12* Robertson* Do iR., U t i l i t y and A l l T h a t , Goorg© Allan & Unwln, 1952^
p p , 83--?6r 102-20i:.
13® Robinson* J o a n , The Rate of I n t e r e s t # Macmlllan^ 1952* pp* 1-30;
p p , 73-76*
140 MarshaU^ A l f r e d , Money^ C r £ d i t and ^2J5H^2£^ '& G i l l i a n , 1923*
Book I , Ch* 9 f ppT'lSB-SO^ ~™"^ """"*"" ' " " ~ ~
15o Yvickse 1 1 , Ko, I n t e r e s t arri^ P r i c e s , Faem3llan, 1936; I n t r o d u c t i o n
by B e r t i l Ciillrf; aTsb^AutHor^s^i^efaoej Ch* 5 , 7 « 8 , 1 1 ; (pp«> 38-50,,
p p , 8 1 - 1 2 1 ; 165-1*77),
16* VvideeU, K** Money: L e c t u r e s on P o l i t i c a l Economy* Vol,,
Macmilxan.n JU.\5o, 0h-> IV (pp>
hii-2k:^}o
n„
17, W i l l i a m s , ;fohn lu r
a
* l ^ P i Z * ?^.ai:iL SpA SSPJ 10111 ^ ^I2ZJ2i°
* n Honor of John iu Y*ill3anic,
r
r
' ^TTacxrilllTm > " I W i 3 "TH3T"l;^ "Dup2 iez, £ H i s , and K osa * pp * 243- 93.
br* Economic S t u M l i t v In a Chan^ln^ V^orld* Oxf-TJO ^ \] * Y*, 1953,
1«
20
H a r r i s , Chandler $ Friedman, Hansen, L e r n e r , Tobin, "The C o n t r o v e r s y
over Monetary Policy,, 11 The^ SjgvioY? JDC^ S££E£SiHil SP*5t ^ f : £ - J 2 £ i c s ,
August, 1951,,
"*"*" ~~ ***"-P" ~"~ - - - - - ^ - ~ — ~—. - —
H a r r i s f E l i n o r ^ "l.ioney D^iojid and the I n t e i r e s t Rate Level,/ 1 Q u a r t e r l y
J o ^ g n a l ojl IJ££tl2Sir£?^ February y 1950.
M i n t s , Hansen, E l l i n . Terrier* K a l e c k i , nA Syinposium on F i s c a l and
Monetary P o l i c y , 0 heview of Ecorionic S t a t i s t i c s , l&y 1946o
4o
Oxford U n i v e r s i t y ^ I n s t i t u t e of S t a t i s t i c s , D t ^ M t i n
a a Volo 1 4 , Hose 4 & 5 , Apr*-*May, 1952
"^^ ""
bo Vole 1 4 , No. 8 , August"'1952o'
iEconoialcigi
241 {co: ;ti rv - ed ;
«•
y& n
\;; ;v'
5o
Simons* II* Go*. !fDei>u P o l i c y ant] l^ukfxg foils: y / k R e ^ e ^ of Epj£222ii^£
S t a t I s t i c a ^ May X'J40..
~~~ """ "™* ~
"^
60
Tobin* James* ff Monetary P o l i c y and the Management of the P u b l i c
Debt: The Patman I n q u i r y , " Rg;v3j3w 9±. E$QB$g&9A Bxici St a t i 3 t i c a ,t,
August 1952*
^ *~ ~~~ ™' ' '
~
Do£woerit£
You should be a c q u a i n t e d w i t h each of t h e s e i n a g e n e r a l way* though
you a r e n o t e x p e c t e d to r e a d i n t o t o a l l of t h e s e voluminous r e p o r t s *
lo
Monetary* £ £ g £ i t ^ a i ^ £iJL££]L RB2SS^S.^
~TJcoriomic~ R epoFtT"'"1"* ""*"*" ' " --~-~——
U
*
S
J o i n t Cosanlttee on t h e
*
a« A Coupe*ndlum of M a t e r i a l s , Donate Document No* 13 &* 81:2»
bo Heai'iiVi'.a b e f o r e the K ;oco;/anJttee of t h e J o i n t Economic
C o n & i t t e e , Sept* 2*6; l-ovo 16 «-!£<> 2 2 - 2 5 ; Dec, 1-S, 5*
Doc, 7* 1949*
Cf Report of the Subcommittee* Senate Document Mo* 129, 81:2*
i960,
2o
Monetary P o l i c y and t h e ^Kagemeribpf tho fixblic D e b t : T h e i r Role
" in" 'AcEl'e^Ing PrTca*^^
blTTSraplo^ent
(Batman r e p o r t ) , .Parts 1 and 2S. J o i n t CoBimittee on t h e Economic
R e p o r t * 8212® 1952«
H e a r i n g s b e f o r e t h e J o i n t Committee on t h e Econorrilc Report on the
P r e s i d e n t ' s Economic R e p o r t , BZt2$ 1954 0
F e d e r a l Reserve Board t Annual 5$ppj£t,£ '^0T
1; MI
^
y a a r a 1945 t o p r e s e n t .
Supplementary Reading
Books
le
Copeland^ He Ao * A St^^X 2 £ mm
M2ESZ £i2H£^ N a t i o n a l Bureau of
Economic ResearchTT^£T2T~ *~mm~""* ™ ~-
2.
D i r e c t o r * Aaron {ed,,}, Defense §:pJ>t:E2l£ S3il I;lVtM\ili?ll^ U n i v e r s i t y
of Chicago i r e $ s , 1^52, ^p^/^Y^vfr™
5o
Kconoialc Re£££t^ of t h e J ^ f ^ d ? i 2 i } - January t, 10^4 >
4*
E l l i s * H* 3** fade)* Sar^y^ey of 4l-OT;,t^Ty^^£ir*j£^ JLTS^ri^S?^^ Bist^Iston*
P h i l a d e l p h i a ? 104C\^cEET^;^li?"''ir o " — - «•-
S*
F e l l n e r * William* I.tonetary P o l i c i e j and^ F u l l Exnglojjfment
1946^ cho 6 ( p p r T 7 3 ^ 3 9 ) 7
6*
GIblin* The Growth of a C e n t r a l Bank* Melbourne* 1951*
•mm iKHmsmmtmrnim'
#
Berkeley.,
Kconogljgs^ a241 (eontIxrue'l}
~
I;'al 1 10'"4
7*
Hansen, Alvin Hc^ £ i ? 5 ? i I!9i;iSX SS2L £B5l;,5S^£ &£i®£^ N o r t o n , 1941a
8o
Hansen, Alvin H«* Business Cycles and N a t i o n a l In coxae. Norton* 1951c
9®
Hansen and Clexoenoe^ Readings I n Business Cycles and N a t i o n a l
Income^ N o r t o n , 195oo
10o Harrodjp R* F«, 2S^S££g £ HSBEiE S£2B£'Si££^ London * 2£&cxnlllan, 1948<,
11* Hawtrey, R, Ga^ ?jfc£ Ar£ of £,£2$l!fii SS2M££t* London, Longmans* 1932*
12o Hayek, F* A» von4J
J5^j££gL gff± F r a d i ^ t i o n f X&ndon, Rout l e d g e , 1935*
13 • H i c k s , J« U« , A C o n t r i b u t i o n t o the Theory of t h e Trade Cycle*
Oxford # u 1 ar and on Pr a 3 a, 1950 *
14* Roman, ?* To, and P» r.lachlup ( e d s « ) , Financin/t American P r o s p e r i t y *
N.Y., T w e n t i e t h Century Fund, 1 9 4 5 c ~ ^ ~ ~ ~ "
—^~_--——«*»
McwwMrsMKMMMMKMM^^
«•»*«»»»»•
M M W W « R 9 i l ^
Offset**
^fl**.*******'
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«a«afei« a «»«««S«* '
1 5 , K l e i n , Lawrence, Th£ | ^ 2 S £ 5 i S l ^lEill^iSB, 1 5 c ^ l3 « 1~3, (pp« 1 - 9 0 ) ,
Macmillan, 1947*»
16(1 L i n d a h l , E r i k , s t u d i e s i n the Theory of Money and C a p i t a l , A l l e n
and Unwin, 19&F^ p a r t i l T ^ h s . 4 - S , (pp c rt>9^2S0j,
17,-, Macmlllan Heport, Royal Commission on Finance and Indus t r y * Cmfi0f
" ^ B W " T l 9 - S r l T ^ r t I , Ch. 11 (ppo 3 2 - 1 0 5 ) .
18o Metsler s - Lloyd arxl other3 4 . Income* ^aplQ^Qnt
and P u b l i c Policy^
Norton,, 1948,,
~ .~——.- ~ . . - ~ ~ — «. .
™~
19 0 M i n t s , L* V*.* A H i s t o r y of Banking Theory, Chicago, 1945, Chs a VI
and X^ pp* '#4-100; T/8-l^Vo
20* M i n t s , L« WM Monebarj P o l i c y for a C£mgetitive S o c i o t v , McGraw-Hill,
1950o
—
~-~_~:
21 o Murphy, IU C«, The Jl^^joml^ Webjt i n ^ a r ana T£2£2jJ^i5i* Knopf, 19 50,
22,, Myrdal, Gunnar, rl2.B2iL0£X I^^j£^il£lfeSx Hedge* 193 V?
^ ° I^eadlngs i n H £ n g t ^ X SiSSEZ^ R l a k l s t o n , 1951,,
24* Simons, lu C*, E£2Sp2ii^ £ 2 M S L 1 ££ r l §» ££££ §S£lSMii C h i c a g o , Univc
of Chicago Pril^^^SlBo^^^ * m~~"' "" t™*'^ — - — — • —
25« Terborgh, George^ The Bogey of Economic Maturity^ Chicago. Machinery
and Allied Products institute, i94ba
28o Thomas^ Brindley, Monetary Policy and Crises, Rout ledge, 1956,.
Chso 3-4 (pp., 62-X5^bjT^
f ,*n fSVi
'*" ' ", ^
27o Vinery Ji>^- S t u d i e s l a /&be X^£££^ of r l ^ i ^ 5 ^ ? : ^ j i «.t££^^^ Harpers28* Williams* John II** Postwar Monetary P l a n s , D l a c k w e l l , 1949^ Chsu 15*
16, 1? (pp. 255-255TSTr=!5S5r^
A r t i c l e s ^ S u n p l e m e n t a r y Reading
1*
Clark* Colin » l ! P u b l i c Finance and Changes i n t h e Value of Money/ 1
Economic
teml,
LV, Deeerrifoar 1 9 4 5 . pp* 371-89*
2,
Hicks f J» R«. ttMr<> Keynes and t h e G l a s s i e s :
t a t i o n * " E££ES3£l£i£Si^ A p r i l 1937*
3*
Kreps* C*1 1 H* * Ji% and G* L« Bach^ f!The F e d e r a l Reserve and Monetary
PolicyAmerican Econoiaic Review® September 1950*
4e
Modigliani* P
^ " L i q u i d i t y P r e f e r e n c e s and the Theory of
and Money/ 1 E c O T j o ^ t r l c a , J a n u a r y 1944o
5o
M o d l g l i a n i * F», * ' F l u c t u a t i o n s i1 n the Saving-Income K a t i e ? A Problem i n Economic Forecasting*** S t u d i e s in Income and VJealth. XI*
No Y*, N a t i o n a l Bureau of Economic Research* 3€J*
6*
S c o t t * I r a 0© Jx% , " P r o f e s s o r L e o n t l e f on Lord Keynes,*" and
"Comments" b y P r o f e s s o r s L e o n t l o f arrl H a b e r l o r , S^^SSEJtJ.
~-~—•- ( £2Hrr§A i^£ j ^ o n c i r d ^ ^ November 1949*
7o
S e l t ^ e r ^ h* II. # '''The Changed Environment of Monetary-Iran-cine
Policy* H / ^ 5 * i ^ n K c ; 2 £ ^ r £ : i P v l e !?^ XXXVI, Hay 1946..
8«
S e l t z e r * I », IU, " I s a XIso In I n t e r e s t R a t e s D e s i r a b l e or I n e v i t a b i e v 1 /v^£i5£ui ^corjoiuic K^l^ejtf* XXXV, Dec- 194c^ p p . ftZZ*G
9o
S l i c h t e i s 3 , II, * "Long-'uenn E^ororcde Trends,
IngjJ* iteieriean I^nonji-JS, ll2X^?Jf; ~ ^ u 7 i^ r -'^
A Suggested I n t e r p r e *
?l
Interest
iBiPJITiL ££$. j^ooot^a^~ "~" " ""~~" " W ~'" M
10* S p r o u l r Allan,, "I!onotary !>3ar.&eomont and C r e d i t C o n t r o l / * ilmer!/a:i
Economic Review,, XXXVII,, ?vn& 1047, p p , 339---&X,
11* SympcsiumBnHIIov/ t c Nanace the n a t i o n a l Deb'; K n Hjeryiew of Economics
and S t a t i s t i c s , XXXI» February ,ilM9o
' '"" ™^^ """" —-—~—
12* Whittlesey., C* 11.. % ^ s m o r a r u ^ on the Si;aV;\l: f ty of D&:zn>l d e p o s i t .;/ n
Ane£ic:ar:; K£onom3c ^eviey/,* Denrr.-l-er 194'X>
15© W i l l i a m s , John Ho* ?!An E c o n o m i s t s Confessions^" American iJc-onomic
Review # March 1952 o
—-—.—-,-«• - — . — 14o t . r i # i t f Do Iloj, "The Future of Keynesian Sccnomics$ ff &*erican
I ^ £ 2 E i E liSZiSiS' XXXV* June 1945, ppc- CC^X 307 ,s
-7-*-*
INTERNATIONAL MONETARY ORGANIZATION AND POLICY
Economics 242
Fall Term: 1955
Professor Williams
I.
II.
III.
IV.
V.
VI.
Pages
INTERNATIONAL TRADE AND FINANCE ~- FOR BACKGROUND READING
A. Textbooks in International Economics . ... . -........ . ........... .. . 1
B. International Trade and Finance: Theoretical Studies ............
1
PART I
CLASSICAL vs. MODERN TBEORIES OF INTERNATIONAL TRADE .................
NATIONAL INCOME AND INTERNATIONAL TRADE
A. Relative Prices and Structure of International Trade
1. Prices and the Balance of Payments:
a. Elasticity Concept in Theory .............................
b. Measurement of International Elasticities--Empirical
Studies and Some Quantitative Forecasts" .............
2. The Terms of Trade: Theoretical and Statistical Analysis .....
B. Multiplier Analysis .......
1-4
4 -5
5 - 6
6-7
7 - 8
PART II
MONETARY ASPECTS OF INTERNATIONAL TRADE THEORY
A. Concept of Equilibrium and Disequilibrium in Balance of Payments .. 9
B. Payments Mechanism and Methods of International Adjustment
1. Exchange Rates in Theory and Policy ........ ..... ........ . ..... 9 -12
2. Exchange and Trade Controls ................................... 13 -15
3. Capital Account in the Balance of Payments%
a. Short-Term Capital Movements and Transfer Problem . . . . . . . . . 16 -17
b. Long-Term Capital Movements and Foreign InvestmentAspects of Theory and Analyses of Earlier Experience . 1 7 - 1 9
PART III
INTERNATIONAL MONETARY ECONOMICS: MONETARY THEORY
AND HISTORY OF INTERWAR YEARS
A. Pre-1914 Central Banking and Gold Standard: Some Selected Studies . 20
B. Monetary Theory: Some Leading Contributions in Interwar Period ... 21
C. Problem of Monetary Stabilization in Interwar Period:
1. International Gold Standard: The Interwar Controversy ........ 21
2. Monetary and Exchange Policies (1914-39): Aspects
of World Financial History:
a. Devaluations of the 1920!s; Currency Stabilization
iLxpenmen uS •.... o • ..OB.................................... C—CL — d.^
b. Devaluations of 1930!s: Exchange and Monetary Problems
and Policies in Depression and Recovery
23 - 25
D. International Monetary Cooperation--Past and Present
1. Bank for International Settlements
25 - 26
2. International Monetary Fund .................................. 26 - 27
PART IV
CONTEMPORARY PROBLEMS IN WORLD FINANCE
A. The Dollar Problem ................................................
1. Differential Productivity; International Comparisons of
National Income and Product ..................................
B. Britain and the Sterling Area--Role in International Trade and
Finance
28 - 30
30 - 31
32 - 35
ii
Pages
VI.
CONTEMPORARY PROBLEMS IN WORLD FINANCE
C.
Currency Convertibility and Related Problems of the EPU
and International Reserves ...... •»«,... 0 • »..<> o ................. 0..... • 35 -38
Economic Integration .„<,.. 0 „ ..<,..<,.•<, ».. *». „.. • 0............. a.... o <,«0 39-42
D.
VII.
VIII.
IX.
- Continued
CONTEMPORARY PROBLEMS IN ECONOMIC A H L A N D FOREIGN TRADE
A . G. A . T. T. and Current International Trade Issues ...«,........o..... • 42-43
B. U. S. Foreign Economic Policy Since World War II
1. General Surveys: Military and Economic Aid Program
„ *. o 43-44
2. U. So Trade and Tariff Policies ...0 „. 0. o.........«• o ....<>.....,.. 44-45
PART V
COMPARATIVE MONETARY POLICIES
A* Current Trends in Central Banking--Some General Discussions ......«..« 46
B o Current British Controversy on Monetary Policy ....................... 46-48
Co Recent Orientation of Monetary Policy in Western Europe .......«,. „.... 49
PART V I
DEVELOPMENTAL ECONOMICS
A. Theory of Growth with Special Reference to Less Developed Countries .. 50-51
B. Financial Aspects of Economic Development:
1* Investment Problems in Lending and Borrowing Countries . 0«,........ 51-52
a. Private Capital vs. Government Loans for World Development ... 53
2 . Taxation and Foreign Investment .. 0 . 0 .o. 0 .*...,......... 0
„ 54
3. International Finance Corporation: Development Banks or
Corporations . <><,*. . 0 ...<,..a.. ...•...<,.. * ....<,..„....<>............. 54-55
C. Monetary-Fiscal Measures and Internal Stability in Underdeveloped
U OUXl U r X c S
D.
e.
SS^S^
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Studies in Central Banking in British Commonwealth Countries
Monetary-Fiscal Policies and Problems of Latin American Economic
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INTERNATIONAL MONETARY ORGANIZATION AND POLICY
Economics 242
Fall Term0. 1955
/professor Williamsf^
INTERNATIONAL TRADE AND FINANCE — FOR BACKGROUND READING
A.
Textbooks in International Economics
1. Ellsworth, P* T., International Economics. New York, Macmillan, 1938«
2. Kindleberger, C. P., International Economics. Homewood, Irwin, 19533. Marsh, D, B., World Trade and Investment. The Economics of Interdependence . New York, Harcourt, Brace, 1951*
®#
International Trade and Finance: Theoretical Studies
1.
Haberler, G., The Theory of International Trade. New York,
Macmillan, 3d English ed., 1950.
2. Harrod, R. F., International Economics. London, Nisbet, 3d ed., 19^7t
3. Meade, J. E., The Theory of International Economic Policy.
Vol. I, The Balance of Payments. New York, Oxford University
Press, 1951J Vol. II, Trade and Welfare. Oxford University
Press, /fall/ 19554. Ohlin, Bertil, Interregional and International Trade. Cambridge,
Harvard University Press, 2d ed., 1935«
5. Taussig, F. W., International Trade. New York, Macmillan, 1927.
6- Viner, Jacob, Studies in the Theory of International Trade. New
York, Harper, 1937-
* Especially Recommended
PART
I
CLASSICAL vs. MODERN THEORIES OF INTERNATIONAL TRADE
BOOKS:
1. American Economic Association, Readings in the Theory of International
Trade, ed. by H. S. Ellis and L. A. Metzler. Philadelphia, Blakiston,
19*8.
2. Graham, F. D., The Theory of International Values. Princeton, Princeton
University Press, 1948.
'
3* Hirschman, A. 0., National Power and the Structure of Foreign Trade.
Berkeley, University of California Press, 194=3 •
4. Mosak, Jacob, General Equilibrium Theory in International Trade. Bloomington, University of Indiana Press, 1944.
5- Robinson, Joan, Essays in the Theory of Employment. Oxford, Blackwell,
2d ed., 1947, Pt. III.
2
6.
Viner, Jacob, International Trarie and ^conorrpr. VIRVRI opmpnt. Glencoe:
The Free Press, 1952, chs. I-III.
7. Yntema, T. 0., A Mathematical Reformulation of the General Theory of
International Trade. Chicago, University of Chicago Press, 1932.
Articles'
1.
2.
3.
4.
5.
6.
7.
®'
9.
* 10.
•*"*-•
12.
13.
14.
^'
^*
17.
18.
1920.
21.
22.
Baldwin, R. E., MThe New Welfare Economics and Gains in International
Trade," Quarterly Journal of Economics, IXVI, February, 1952.
Balogh, T., "Static Models and Current Problems in International
Economics," Oxford Economic Papers, I, June, 19^9> pp. 191-8.
Braden, S. E., "Frank D. Graham and the Classical Theory of
International Trade," Journal of Finance, V, March, 1950.
Child, F. C , "The Gains from Limited Trade," Review of Economic
Studies, XVIII (2), No. 46, 1950/51, pp. «7-9«.
Coen, E., "Decreasing Costs and the Gains from Trade, "Economica,
XVIII August, 1951, pp. 285-91.
Das Gupta, A. K., "Marshall's Measure of !Net Benefit from Foreign
Trade," Indian Economic Review, II, August, 1954.
Day, A. C. L.,„flThe Taxonomic Approach to the Study of Economic
Policies, American Economic Review, XLV, March 1955> PP- 64-78.
_ _ _ _ _ _ "^ Geometrical Demonstration of Stability Conditions in
International Trade," Economia Internazionale, VII, February,
1954, pp. 1-7.
Ellsworth, P. T., "The Structure of American Foreign Trade: A New
View Examined," Review of Economics & Statistics, XXXVI, August,
1954, pp. 279-85.
Haberler, G., "The Relevance of Classical Theory under Modern Conditions,"
American Economic Review, Supplement, XLIV, May, 1954, PP- 552-64.
_ _ _
"Some Problems in the Pure Theory of International Trade,"
Economic Journal, LX, June, 1950, pp. 223-40.
Humphrey, Don, "Forces of Disequilibrium and World Disorder," American
Economic Review, Supplement, XLIV, May, 1954, PP* 552-64.
James, S. F. and Pearce, I.F., "The Factor-Price Equalisation Myth,"
Review of Economic Studies, XIX(2), No. 49, 1951-52, pp. 111-20;
and "Comment" by P. A. Samuelson, ibid., pp. 121-2.
Johnson, H. G., "The Transfer Problem: A Note on Criteria for Changes
in the Terms of Trade," Economica, XXII, May, 1955, PP- 113-21.
_ _ _ _ _ "Optimum Tariffs and Retaliation," Review of Economic Studies,
XXI(3), No. 55, 1953/54.
_ _ _ _ _ "The Taxonomic Approach to Economic Theory," Economic Journal,
LXI, December 1951, pp. 812-32.
Kahn, R. F., "Tariffs and the Terms of Trade," Review of Economic
Studies, XV(l), 1947/48, pp. 14-19.
Kojima, Kiyoshi, "A Survey of the Theories on International Economics
in Japan," Japan Science Review" Economic Sciences, No. 1, 1953>
pp. 30-61.
Koo, A. Y. C , "Duties and Income Distribution," American Economic
Review, X^XII, March, 1953Laursen, Svend, "Production Functions and the Theory of International
Trade," American Economic Review, XLII, September, 1952, pp.540-57.
Leontief, W., "Domestic Production and Foreign Trade: The American
Capital Position Re-examined," American Philosophical Society,
Proceedings, vol. 97, September, 1953, PP- 332-49.
Lerner, A. P*, "Factor Prices and International Trade," Economica, XIX,
February, 1952, ppQ 1-15I and note by I. F» Pearce, ibid., pp. l6-8.
3
2,3. .MacDougall, Sir Donald,, "British and American Exports: A Study Suggested
by the Theory of Comparative Costs/' Pts. I-II, Economic Journal,
LXI, December, 1951, PP« 697-724; and LXII, September, 1952,
pp. 487-521.
24. McKenzie, L.'V V "Equality of Factor Prices in World Trade,"
Econometrica, XXIII, July, 1955, EP- 239-5725o
f ~ "Specialisation and Efficiency in World Production," Review
of Economic Studies. XXl(3), No0 56, 1953/54, pp., 165-80*
^* _ _ _
"®n Equilibrium In Graham* s Model of World Trade and Other
Competitive Systems," Econometrica, XXII, April, 1954.
27* Matthews, R0 Co 0*, "Reciprocal Demand and Increasing Returns," Review
of Economic Studies, XVIl(2), No, 43, 1949/50*
28. Meade" J. E., "The Equalisation of Factor Prices: The Two-Country,
Two-Factor, Three-Product Case," Metroeconomica, II, Nos. 2-3, 1950.
2
9* _ _ _ _ "External Economies and Diseconomies In a Competitive Situation,"
Economic Journal, LXII, March, 1952, pp0 54-6730. Meier, G. M., "Economic Development and the Transfer Mechanism," Canadian
Journal of Economics and Political Science, XIX, February, 195331.
"A Note on the Theory of Comparative Costs and Long-Period
Developments," Economia Internazionale, V. August, 1952, pp. 609-I8.
32. ________ "The Theory of Comparative Costs Reconsidered," Oxford Economic
Papers, I, June, 194933. Metzler, L. A., "A Multiple Country Theory of Income Transfers," Journal
of Political Economy.. LIX, February, 1951, PP- 14-29.
34.
"Graham's Theory of International Values," American Economic
Review, XL, June, 1950, pp. 301-22.
35"Tariffs, International Demand, and Domestic Prices," Journal
of Political Economy. LVII, August, 1949, PP* 845-51.
* 36.
"The Theory Qf International Trade," in A Survey of Contemporary
Economics, Vol. I, ed. by H. S. Ellis and L. A. Metzler.
Philadelphia, Blakiston, 1948.
37- Morgan, D. J. and Corlett, W. J., "The Influence of Price on International
Trades A Study in Method," Journal of the Royal Statistical Society,
Part III, 1951.
38. Morgan, E. V., and Rees, G. L., "Non-Traded Goods and International Factor
Price Equalisation," Economics, XXI, November, 1954, PP- 334-39*
•>: 39- Myint, Hla, "The Gains from International Trade and the Backward Countries,"
Review of Economic Studies, XXIl(2), No* 58. February, 195540. Pedersen, J^rgen, "On the Effects of National Economic Planning on the
International Division of Labour," Economia Internazionale, III,
February, 1950, pp. 142-60.
41. Pigou, A- C , "Long-Run Adjustments in the Balance of Trade," Economica,
XX, November, 1953, PP* 295-301.
42. Polak, J. J., "The ^Optimum Tariff and the Cost of Exports,1' Review of
Economic Studies, XIX(l) No. 48, 1950/51, pp036-41,
43. Robinson, Joan, "The Pure Theory of International Trade," Review of
Economic Studies, XIV(2), No. 36, 1946-47.
44. Rostow, W. W., "An Historian's Perspective on Modern Economic Theory,"
American Economic Review, Supplement, XLII, May, 1952, pp. 16-29.
45.
Samuelson, P. A., "Prices of Factors and Goods In General Equilibrium,"
Review of Economic Studies, XXl(l), No. 54, 1953/54, pp. 1-20.
46.
"The Transfer Problem and Transport Costs." Pt. I/'The Terms
of Trade When Impediments are Absent," Economic Journal, LXII, June,
1952, pp. 278-304; and Pt. H,':Analysis of Effects of Trade
Impediments," ibid., LXIV, June, June, 1954, pp. 264-8947.
"International Factor-Price Equalisation Once Again," Economic
Journal, LIX, June, 1949, pp. 181-97.
4
48.
49.
50.
51.
52.
53.
-x- 54.
5556.
* 57-
5859-
III.
"International Trade and the Equalisation of Factor Prices,"
Economic Journal, LVIII, June, 1948, pp. 163-89.
Smithies, A., '^Modern International Trade Theory and International
Policy," American Economic Review, Supplement, XLII, May, 1952,
pp. 168-76.
- _ _ - _ _ _
Stevens, R. W., "New Ideas in International Trade Theory," American
Economic Review, XLI, June, 1951.
Swerling, Boris C..., "Capital Shortage and Labor Surplus in the
United States? Review of Economics and Statistics, XXXVI, August,
1954, pp. 286-89.
Tarshis, L.i, "International Price Ratios and International Trade
Theory," American Economic Review, XLIV, March, 1954, pp. 120-2.
Tinbergen, Jan, "The Equalization of Factor Prices between Free-Trade
Areas," Metroeconomica, I, July, 1949, pp. 39-47.
Viner, Jacob, "International Trade Theory and Its Present Day Relevance,"
in Economics and Pablic Policy, ^/Brookings Lectures, 1954^7
Washington, Brookings Institution, 1955* chap. 5Whitin, T. M., "Classical Theory, Graham's Theory, and Linear Programming,"
Quarterly Journal of Economics, LXVTI, November, 1953, pp. 227-40.
Wijnholds, H. W. J., "The Theory of International Trade--A New Approach,"
South African Journal of Economics, XXI, September, 1953; PP» 227-40.
Williams, J. H*, "International Trade Theory and Policy--Some Current
Issues," American Economic Review, Supplement, XLI, May, 1951? PP418-30. Reprinted in Economic Stability in a Changing World.
(New York, Oxford University Press, 1953)=
_ - —
_"The Theory of International Trade Reconsidered," Economic
Journal, XXXIX,, June, 192-9, PP° 195-209o Reprinted in Post-War
Monetary Plans, (Oxford, Blackwell, 4th ed., 1949).
Young, Allyn, "Increasing Returns and Economic Progress," Economic
Journal, XXXVIII, December, 1928.
NATIONAL INCOME AND INTERNATIONAL TRADE
A.
Relative Prices and Structure of International- Trade
1.
Prices and the Balance of Payments °0
a. Elasticity Concept in Theory
Books 1
1. Ellsworth, P. T., The International Econorqy. New York,
Macmillan, 1950, chap. 15•
2. Marsh, D. B., World Trade and Investment. New York, Harcourt,
< Brace, 1951* chap. 15.
3. Tarshis L. Introduction to International Trade and Finance. New York,
Wiley, 1955.
Articles?
1. Allen, W. R., "The Effects on Trade of Shifting Reciprocal Demand
Schedules," American Economic Review, XLII, March, 1952, pp. 135-40.
2. Balogh, T., and Streeten, P., "The Inappropriateness of Simple
Elasticity Concepts in the Analysis of International Trade,"
Oxford Institute of Statistics, Bulletin, XIII,March, 1951.
Brown, A. J., "The Fundamental Elasticities in International Trade,"
in Oxford Studies in the Price Mechanism, ed. "by T. Wilson and
P9WoSo Andrews. Oxford, Clarendon Press, 1951, pp. 91-106.
Fabricant, S., "Cycles in the Balance of Payments," Journal of the
American Statistical Assn., v. 49, March, 1954, PP- 79-^7- ~"
Harberger, A. C , "A Structural Approach to the Problem of Import
Demand," American Economic Review, Supplement, XLIII,May, 1953Horner, F. B., "Elasticity of Demand for the Exports of a Single
Country," Review of Economics & Statistics, XXXIV, Nov., 1952.
Koo, A. Y. C , "Income Elasticity of Demand for Imports," American
Economic Review, XXXIX, September, 1949Koyck, L., "Long-Term Foreign Trade Elasticities," Metroeconomica, V,
nos. 2-3, 1953.
Kubinski, Z. M., "Measurements of Elasticity of Substitution in .
International Trade," South African Journal of Economics, XXII,
June, 1954, pp. 210-22.
Liu, Ta-Chung, "The Elasticity of U.S. Import Demand: A Theoretical
and Empirical Reappraisal," IMF--Staff Pappers, III, Feb., 1954,
pp. 270-89.
Machlup, Fritz, "Elasticity Pessimism in International Trade,"
Economia Internazionale, III, February, 1950, pp. 118-37Streeten, Paul, "Elasticity Optimism and Pessimism in International
Trade," Economia Internazionale, VII, Feb., 1954, PP- 85-112.
Tinbergen, Jan, "Long-Term Foreign Trade Elasticities," Metroeconomica,
Nos. 2-3, December<, 1949.
b0
Measurement of International Elasticities—Empirical Studies
and Some Quantitative Forecasts
Books 1
1
Adler, J. H. and Associates, The Pattern of U.S. Import Trade Since
1923 * New York, Federal Reserve Bank, May, 1952.
Chang, T. C , Cyclical Movements of the Balance of Payments. Cambridge,
Cambridge University Press, 1951Neisser, H. P. and Modigliani, F., National Income and International
Trade. A Quantitative Analysis. Urfoana, University of Illinois
Press, 1954.
Articles 1
Adler, J.H., "The Postwar Demand for U.S. Exports," Review of
Economics & Statistics, XXVIII, Feb., 1946, pp. 23-33.
"U«S« Import Demand during the Interwar Period," American
Economic Review, Supplement, XLV, May, 1955, pp. 27O-B7"!
Aubrey, Henry G., "The Long-Term Future of U.S. Imports and Its
Implications for Primary-Producing Countries," American Economic
Review, Supplement, XLV, May, 1955, PP- 27O-87.
"The Secular Increase of U.S. Imports and World Trade." ;
Unpublished Memorandum. New York, Federal Reserve Bank, May 13,
1954• Mimeographed.
Chang, T. C , "A Statistical Note on World Demand for Exports,"
Review of Economics & Statistics, XXX, May, 1948, pp. 106-16.
"The British Demand for Imports in the Inter-War Period,"
Economic Journal, XLVI, June, 1946, pp. 188-207,
6
78.
9.
10.
11.
12.
13*
14.
•* 15*
16.
17.
18.
19.
20.
"The British Balance of Payments,, 1924-38," Economic
Journal^ XLVII, December, 19^7»
"International Comparison of Demand for Imports," Review of
Economic Studies, XIII.(2), 1945/46/ pp. 63~7de Vries, B.A., "Price Elasticities of Demand for Individual
Commodities Imported into the U.So," IMF--Staff Papers, I, April,
1951, PP» 397-419*
Hargreaves, J.A.., "U.S. Import Propensities Since the War," Oxford
Institute of Statistics, Bulletin, XII, Jan-Feb«, 1950.
Lerdau, E», "British Demand for New Zealand Exports," Canadian Journal
of Economics & Political Science, XX, Aug., 195^, pp. 321-31*
Lovasy, Go, and Zassenhaus, H.K», "Short-Run Fluctuations in U.S.
Imports of Raw Materials, 1928-39 and 1947-52," IMF--Staff Papers,
III, Oct., 1953, pp. 270-89.
Mendershausen, H., "Long-Term Trends in U.S. Merchandise Exports, 190050," Zeitschrift fur die Gesamte Staatswissenschaft, v« 108, No. 2,
1952.
Neisser, Hans, "The U.S. Demand for Imports," American Economic Review,
Supplement, XLIII, May, 1953, pp. 134-47.
Orcutt, G.H., "Measurement of Price Elasticities in International
Trade," Review of Economics 8c Statistics, XXXII, May, 1950, pp.
117-32.
Schlesinger, E.R., "The Long-Run Outlook for U.S. Merchandise Imports,"
IMF—Staff Papers, IV, Feb., 1954.
Sweehey, T. D., "Short-Range Forecasting of.U.S. Imports," IMF—Staff
Papers, IV, Sept., 1954.
Thackeray, F. G., "Elasticity of Demand for U.K. Imports," Oxford
Institute of Statistics, Bulletin, XIX, April, 1950, pp. 109-14.
Wright, A. L., "A Note on Disequilibrium- and the Effects of the
Elasticities of Supply and Demand-," Economic Journal, LXII, D e c , 1953Zassenhaus, H.K., "The Direct Effects of a U.S. Recession on U.S. Imports:
Expectations and Events," Review of Economics & Statistics, XXXVII,
May, 1955, pp. 231-55.
2.
The Terms of Trade°
Theoretical and Statistical Analysis
Book:
* 1. Rostow, W. W., The Process of Economic Growth. New York, Norton, 1952,
chap. 8.
Articles:
1. Ahumada, J0, and Nataf, A., "Terms of Trade in Latin American Countries,"
IMF--Staff Papers, I, Feb., 1950, pp. 123-35.
* 2. Baldwin, R. E*, "Secular Movements in the Terms of Trade," American
Jconomic Review, Supplement, XLV, May, 1955, pp. 259-69^
3. Benham, F. C., "The Terms of Trade," Economica, VII, Nov., 1940, pp. 36O-76.
4. Devons, E., "Statistics of the United Kingdom's Terms of Trade," The
Manchester School, XXII, Sept., 1954, pp. 258-75.
5- Dorrance, G. S., "The Income Terms of Trade," Review of Economic Studies,
XVI(1), No. 39, 1948/49.
6. Elliott, G. A., "Protective Duties, Tributes, and Terms of Trade," Journal
of Political Economy, XLV, 1937, pp. 804-7.
7"Transfer of Means-of-Payment and the Terms of Trade," Canadian
Journal Of Economics & Political Science, II, 1936, pp. 481-92.
7
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
Haberler, G., "Currency Depreciation and the Terms of Trade," in
Wirtschaftliche Entwicklung und Sociale Ordnung, ed. by Lagler and
Messner. Vienna.
Harberger, A.C., "Currency Depreciation, Income and the Balance of Trade,"
Journal of Political Economy, LVIII, Feb., 1950, pp. 47-60.
Hicks, J. R., "Free Trade and Modern Economics," Transactions of the
Manchester Statistical Society, Session 1950/51Imlah, A. H., "The Terms of Trade of the United Kingdom" (1798-I913),
Journal of Economic History, Nov., 1950.
"Real Values in British Foreign Trade, 1789-I853," Journal of
Economic History, Nov., 1948.
Inman, J., "The Terms of Trade," The Manchester School, VI, 1935,
pp. 37-50.
Kennedy, Charles, "Devaluation and the Terms of Trade," Review of Economic
Studies, XVIIl(l), 1949/50, pp. 28-41.
Kindleberger, C. P., "Industrial Europe's Terms of Trade on Current Account,
1870-1953/' Economic Journal, LXV, March, 1955; pp. 19-35"German Terms of Trade by Commodity Classes and Areas," Review of
Economics & Statistics, XXXVI, May, 1954, pp. 167-74.
Martin, K., "Capital Movements, the Terms of Trade and the Balance of
Payments," Oxford Institute of Statistics, Bulletin, XI, Nov., 1949,
pp. 356-66.
_ _ _ _ _ and Thackeray,, F. Go, "The Terms of Trade of Selected
Countries, I87O-I938," Oxford Institute of Statistics, Bulletin,
X, Nov., 1948.
Meier, G., "Long-Period Determinants of Britain1s Terms of Trade,"
Review of Economic Studies, XX(2), No. 52, 1952/53.
Parkinson, J. R., "The Terms of Trade and the National Income, 1950-52,r!
Oxford Economic Papers, VII, June, 1955, PP- 177-96.
Ramaswami, V. K., "Japanese Terms of Trade, 1921-34," Indian Economic
Journal, II, Feb., 1954, pp. 44-60.
Robertson, D. H., "The Terms of Trade," UNESCO International Social
Science Bulletin, I, Spring,, 1951 .
Silverman, A. G., "Monthly Index Numbers of British Export Prices,
1880-1913," Review of Economics & Statistics, XXXII, Aug., 1950.
Staehle, Hans, "Some Notes on the Terms of Trade," UNESCO International
Social Science Bulletin, I, Spring, 1951Triantis, S. G., "Economic Progress, Occupational Redistribution and
International Terms of Trade," Economic Journal, LXIII, Sept., 1953-
B. Multiplier Analysis
Books1
1. Enke, S. and Salera, V., International Economics. New York, PrenticeHall, 2nd ed., 1951, chap. 12.
2. Hamberg, D., Business Cycles. New York, Macmillan, 1951, chap. 10.
(Pt. II).
* 3- Kindleberger, C. P., International Economics. Homewood, Irwin, 1953,
chap. 9•
4. Machlup, Fritz, International Trade and the National Income Multiplier.
Philadelphia, Blakiston, 1943.
8
Articles:
1.
Beckerman, W., "Price Changes and the Stability of the Balance of
Trade/1 Economica, XIX, Nov-, 1952, pp. 408-14,
2. Day, A. C. L., "Relative Prices, Expenditures and the Trade Balances
A Note," Economica, XXI, Feb., 1954.
3- Federici, L., "On the Validity of the Principles of the ^Foreign Trade
Multiplier," in International Economic Problems, ed. by Vo
Travaglini. (Genoa, 1950);also in Economia Internazionale, III,
Aug., 1950, pp. 647-6$.
4. Giersch, Herbert, "The Acceleration Principle and the Propensity to
Import," International Economic Papers, No. 4, 1955*- 5- Hawtrey, R« G., "Multiplier Analysis and the Balance of Payments,"
Economic Journal, Lx, March, 1950, pp. 1-8.
6. Kindleberger, G. P., "Foreign Trade Multiplier, Propensity to Import
and Balance of Payments Equilibrium, " American Economic Review,
XXXIX, March, 1949, pp. 491-94; comment by A. I. Bloomfield,
ibid., Sept., 1949.
* 7• Meade, J. E., "National Income, National Expenditure and the Balance
of Payments," Pts. I-II, Economic Journal, LVII, D e c , 1948, pp.
483-505, and LIX, March, 1949, pp. 17-39* 8. Metzler, L. A*, "Underemployment Equilibrium in International Trade,"
Econometrica, X, April, 19^2, pp. 97-112.
9.
"The Transfer Problem Reconsidered," Journal of Political
Economy, 1942. Reprinted in Readings in the Theory of International
Trade (Philadelphia, 1949).
10. Neisser, Hans, "The Nature of Import Propensities and the Foreign Trade
Multiplier," Economia Internazionale, II, Aug., 194911.
"The Significance of Foreign Trade for Domestic Employment,"
Social Research, XIII, Sept., 1946.
12. Polak, J. J., "The Foreign Trade Multiplier," American Economic Review,
XXXVII, D e c , 1947; and comment by G. Hablerler and reply, ibid., pp.
898-907.
13. Rees, Go L., "Price Effects and the Foreign Trade Multiplier," Review of
Economic Studies, XX(3), No. 53, June, 1953, pp. 228-31.
14. Robinson, Romney, "A Graphical Analysis of the Foreign Trade Multiplier,"
Economic Journal, LXII, Sept., 1952, pp* 546-64.
15o Savosnick, K. M., "National Income, Exchange Rates and the Balance of
Trade," Economica, XVII, May, 1950, pp. 196-210; comment by W.
Beckerman, ibid., XVIII, Aug., 1951, pp. 292-4.
16. Stolper, W. F., "The Multiplier, Flexible Exchange, and International
Equilibrium," Quarterly Journal of Exonomics, LXIV, Nov., 1950,
pp. 559-80.
17'
"A Note on Multiplier, Flexible Exchanges and the Dollar Shortage,"
Economia Internazionale, III, Aug., 1950.
18.
"The Volume of Foreign Trade and the Level of Income," Quarterly
Journal of Economics, LXI, Feb., 1947, pp. 285-310.
9
PART II
IV. MONETARY ASPECTS OF INTERNATIONAL TRADE THEORY
A*
Concept of Equilibrium and Disequilibrium in Balance of Payments
Books:
1. Ellsworth, P. T», International Economics. New York, Macmillan,
1938, chaps. 7, 9-11.
2. Kindleberger, C.P., International Economics. Homewood, Irwin,
1953; chaps. 211257
3. Tarshis, Lorie, Introduction to International Trade and Finance.
New York, Wiley, 1955, Section 7.
Articles:
1. Angell, J. W., "Equilibrium in International Trade: the United States,
1919-26,M Quarterly Journal of Economics, LXII, 1928,pp.388-433•
2. Badger, D. G., "The Balance of Payments: A Tool of Economic Analysis,"
IMF—Staff Papers,, I, Sept., 1951.
3. Baldwin, Ro E., "Equilibrium in International Trade: a Diagrammatic'
Analysis," Quarterly Journal of Economics, LXII, Nov., 1948.
4. Bloomfield, A, I., "The Mechanism of Adjustment of the American Balance
of Payments, 1919-29," Quarterly Journal of Economics, LVII, May,
1943, pp. 333-77.
5. Johnson, H. Go, "Diagrammatic Analysis of Income Variations and the
Balance of Payments," Quarterly Journal of Economics, LXIV, Nov.,
1950, pp. 623-32,"
"
6. Malach, V. W., "The Mechanism of Adjustment in Canada1s Balance of Payments, 1921-29," Canadian Journal of Economics & Political Science,
XVIII, Aug., 1952, pp. 303-21.
7o Nurkse, Ragnar, "Conditions of International Monetary Equilibrium,"
Essays in International Finance. Princeton, Princeton University
Press, 1945.
8.
^ "Domestic and International Equilibrium in International
Trade," in The NEW Economics, ed. by S. E. Harris. New York,
Knopf, 1947.
9» Papi, Go U., "Some of the Causes of International Economic Disequilibrium
and some Remedies," Economia Internazionale. Ill, May, 1950> PP- 337-66.
10. Pigou, A * C,"Disturbances of Equilibrium in International Trade,"
Economic Journal, XXXIX, 1929, PP- 344-56.
11. Watts, G. S», "Canadian Balance of International Payments, 1950-52, and
the Mechanism of Adjustment," Canadian Journal of Economics &
Political Science, XX, Feb*, 1954, pp. 19-26. ' ~
Bo Payments Mechanism and Methods of International Readjustment
1. Exchange Rafces in Theory and Policy -- Discussion of Currency
Depreciation, Forward Exchanges, and Fixed vs. Flexible
Exchange Rates
10
Bookss
1. Buchanan, N. S„ and Lutz, F, A., Rebuilding the World Economy. New
York, Twentieth Century Fund, 1947, chap. 6.
2. Crump, Norman, The ABC of the Foreign Exchanges. London, Macmillan,
11th ed,, 1951, chaps. 9-13.
3. Einzig, Paul, The Theory of the Forward Exchange. London, Macmillan,
1937.
4. Evitt, Ho E., A Manual of Foreign Exchange. London, Pitman, 4th rev.
ed., 1955.
5. Harris, S. E. ([Ed.]}, Foreign Economic Policy for the United States.
New York, McGraw-Hill, 1948, chaps, by G. Haberler and A. H. Hansen.
60 Keynes, J. M., Monetary Reform. New York, Harcourt, Brace, 1924, chap. 5.
7» Hawtrey, R^ G. Balance of Payments and the Standard of Living.
London, Royal Institute of International Affairs, 1950.
*• 8. Mikesell, R. F., Foreign Exchange in the Postwar World. New York,
Twentieth Century Fund, 1954.
9. Mid-European Studies Center,Economic Treaties and Agreement of the
Soviet Bloc in Eastern Europe, 1945-51. New York, 1952
* 10. Nurkse, Ragnar, International Currency Experience. Geneva, League of
Nations, 1944, chap. 50
11. Robinson, Joan, Essays in the Theory of Employment. Oxford, Blackwell,
2d ed0, 1947, Pt. 3.
12. Shepherd, Sidney A., Foreign Exchange in Canada. Toronto, University
of Toronto Press, 195313. Southard, F. A., Jr., Foreign Exchange Practice and Policy. New York,
McGraw-Hill, 1940, chaps. 2-3.
14. Stuvel, G., The Exchange Stability Problem. Leiden, H. E. Stenfert
Kroese, 1950.
15 Williams, J. B., International Trade under Flexible Exchange Rates.
Amsterdam, North-Holland Publishing Co., 1954»
Articles:
*
1. Alexander, S. S., "Effects of a Devaluation on a Trade Balance, "
IMF—Staff Papers, II, April, 1952, pp. 263-78.
2.
"Devaluation vs. Import Restriction as an Instrument for ..
Improving Foreign Trade Balance," IMF--Staff Papers, I, April, 19513. Allen, W. R., "Stable and Unstable Equilibria in the Foreign Exchanges,"
Kyklos, VII, Fasc. 4, 1954.
4. Balogh, T., "Exchange Depreciation and Economic Readjustment," Review of
Economics & Statistics, XXX, Nov., 1948, pp. 276-85.
5. Banker, The, "Sterling Fixed or Flexible?" CV, July, 1955, pp. 7-14.
* 6. Bernstein, E 0 M., "Some Economic Aspects of Multiple Exchange Rates,"
IMF-Staff Papers, I, Sept., 1950, pp. 293-314.
* 7- Bloomfield, A. I., "Foreign Exchange Rate Theory and Policy," in The
New Economics, ed. by So E. Harris. New York, Knopf, 1947,
PP. 293-314.
80 Brown, A. J„, "Trade Balances and Exchange Stability," Oxford Economic
Papers, No0 6, April, 1942, pp. 57-75. Reprinted in Oxford Studies
in the Price .Mechanism* Oxford, Clarendon Press, 19519* Dehem, R., "Exchange Rate Policy: Experience and Theory Reconsidered,"
Economia Internazionale, V, Aug., 1952, pp. 559-80.
11
10.
11.
12.
13f
14.
15.
16.
17.
18.
19.
20o
21.
22.
23.
24.
25.
26o
27.
28.
29.
30.
31.
32.
33-
Despres, E* arjd K i n d l e b e r g e r , C. P . , "Methods of Adjustment i n
International Payments--The Lessons of Postwar Experience,"
American Economic Review, Supplement, XLII, May, 1952.
D'lppolito, G., "On the Congruence of Cross Rates," Banca Nazionale
del Lavoro, Quarterly Review, Jan,-March, 1 9 % , pp. 31-41.
Eastman, Harry, "French and Canadian Exchange Rate Policies," paper
given at annual meeting of Economic History Assn., Sept. 10, 1955To be published in Journal of Economic History, Supplement, (1955).
Ellis, H. S., "The Equilibrium Rate of Exchange," in Explorations in
Economics. Hew York, McGraw-Hill, 1937*
Ellsworth, P0 T c , "Exchange Rates and Exchange Stability," Review of
Economics & Statistics, XXXII, Jan., 1950, pp. 1-15Gardner, W. R Q , and Tsiang, S. C , "Competitive Depreciation," IMF--Staff
Papers, II, Novc, 1952, pp. 399-406.
Gilbert, J. C , "Exchange Rate Adjustments," Yorkshire Bulletin of
Economic & Social Research, II, Jan», 1950•
Graham, F. D., "Exchange Rates: Bound or Free," Journal of Finance,
IV, March, 1949, pp. 13-27.
"Achilles',? Heels in Monetary Standards," American Economic
Review, xxx, March, 1940, pp. 16-32.
Gudin, E., and Kingston, J. "The Equilibrium Exchange Rate of the
Cruzeiro," Economia Internazionale, IV, Feb., 1951, PP« 6O-89.
Haberler, G., "Currency Depreciation and the Terms of Trade," in
Wirtschaftliche Entwicklung und Soziale Ordnung, ed. by ...
. E. Lagler and J. Messner. Vienna, Verlag Herold, 1952.
^_
"The Market for Foreign Exchange and the Stability of the
Balance of Payments--A Theoretical Analysis," Kyklos, III, No.3, 1949*
Hall, N. Fo, "Foreign Exchanges, 1932-37/' in Britain in Recovery.
London, Pitman, 1938, pp. 147-61.
Harberger, A. C., "Currency Depreciation, Income and the Balance of
Trade," Journal of Political Economy, LVIII, Feb., 1950, pp. 47-60.
Henderson, Sir Hubert, "The Function of Exchange Rates," Oxford
Economic Papers, I, Jan., 1949/ PP- 1-17j commept by R." G. Hawtrey
June, 1949, PP. 145-58.
Hexner, J. T. "The Canadian Exchange Rate," in Public Policy, V ed.
by C. J. Friedrich and J. K. Galbraith,Cambridge, GSPA, 1954.
Hicks, Jo Ro, "Devaluation and World Trade," Three Banks Review,
D e c , 1949, PP. 3-32.
Hinshaw, Randall, "Currency Appreciation as ap Anti-Inflationary
Device," Quarterly Journal of Economics LXV, Nov., 1951* PP- 447-62;
comment by R. F. Harrod, ibid. LXVI, Feb., 1952, pp. 102-16.
Jacobsson, Per, "Stable or Fluctuating Exchange Rates?" Skandinaviska
Banken, Quarterly Review, XXXV, Oct., 1954, pp. 85-90.
Katz, So I., "Le dollar canadien et le course de change fluctant,"
Banque Nationale de Belgique,Bulletin dfInformation et de
Documentation, Brussels, No. 5, May, 1955"The Canadian Dollar: A Fluctuating Currency," Review of
Economics & Statistics, XXXV, Aug., 1953, pp. 236-43.
Kennedy, C , "Devaluation and the Terms of Trade," Review of Economic
Studies, XV(1), 1947-48, pp. 14-19Laursen, S., and Metzler, L. A., "Flexible Exchange Rates and the Theory
of Employment," Review of Economics 8c Statistics, XXXII, Nov. 1950>
pp. 281-99Lundberg, Erik, "The Dilemma of Exchange Rate Policy,"Skandinaviska
Banken, .Quarterly Review, XXXV, Oct., 1954, pp. 90-6.
34.
3536.
37* 38.
* 39°
* 40.
41.
42.
43.
44c
45.
46.
* 47.
48.
49»
50o
51.
52.
5354.
Lutz, F. A., "The Case for Flexible Exchange Rates/1 Banca Nazionale
del Lavoro, Quarterly Review, VII, D e c , 1954, pp. 175-85.
Machlup, Fritz, "Relative Prices and Aggregate Spending in the Analysis
of Devaluation," American Economic Review, XLV, June, 1955,
PP. 255-78.
'
Marshall, Jorge, "Efectos economicos de ciertas practicas de cambios
multiples, El Trimestre Economico, XX, July-Sept., 1953.
MacDougall, Sir Donald, "Flexible Exchange Rates," Westminster Bank ..
Review, Aug., 1954, pp. 1-3~"
Morgan, E. V., "The Theory of Flexible Exchange Rates," American .
Economic Review, XLV, June, 1955, pp. 279-95.
Orcutt, G. H., "Exchange Rate Adjustment and Relative Size of the
Depreciating Bloc," Review of Economics & Statistics, XXXVII,
Feb., 1955, PP. 1-11.
Polak, J. J., "Exchange Depreciation and International Monetary Stability,
Review of Economics & Statistics, XXIX, Aug., 1947, pp. 173-82.
and Liu, T. C , "Stability of the Exchange Rate Mechanism in
a Multi-country System," Econometrica, XXII, July, 1954.
and Chang, T. Co, "Effect of Exchange Depreciation on a
Country's Price Level," IMF—Staff Papers, I, Feb., 1950, pp. 49-70.
Robinson, Joan, "Exchange Equilibrium," Economia Internazionale, III,
May, 1950, pp. 396-416.
Rothschild, Kurt, "The Effects of Currency Devaluation on International
Terms of Trade," Weltwirtschaftlich.es Archiv, v. 72, no. 2, 1954,
pp. 225-38.
Scammell,W. M., "What Sort of Exchange Rates?" Westminster Bank
Review, May, 1954, pp. 1-4.
Schlesinger, E, R., Multiple Exchange Rates and Economic Development.
Princeton, Princeton University Press, 1952.
Smith, Warren L., "Effects of Exchange Rate Adjustments on the Standard
of Living," American Economic Review, XLIV, D e c , 1954, pp. 808-25.
Spraos, John "Consumer's Behaviour and the Conditions for Exchange
Stability," Economica, XXII, May, 1955.? PP* 137-46; comment by
I. F. Pearce, ibid., pp. 147-51*"The Theory of Forward Exchange and Recent Practice," The
Manchester School,: XXI, May, 1953,, pp. 87-117.
Stolper, W. Fo, "The Multiplier, Flexible Exchanges, and International
Equilibrium," Quarterly Journal of Economics, LXIV, Nov., 1950.
White, W. H., "The Employment-Insulating Advantages of Flexible ExchangesA Comment on Professors Laursen and Metzler," Review of Economics
& Statistics, XXXVI, May, 1954, pp. 225-28 and reply, pp. 22«-29.
Wijnholds/ H. W. J., "Some Observations on Foreign Exchange Rates in
Theory and Practice," South African Journal of Economics, XV,
D e c , 1947, PP. 235-47.
Woodley, W. J. R., "The Use of Special Exchange Rates for Transactions
with Foreign Companies," IMF—Staff Papers, III, Oct., 1953,
pp. 254-69.
Wyczalkowski, M. R., "The Soviet Price System and the Ruble Exchange :.
Rate," IMF—Staff Papers, I, Sept. 1950, pp. 203-23.
2.
Exchange and Trade Controls
Books:
1. Andersen, P. N., Bilateral Exchange Clearing Policy. Copenhagen,
Einar Munksgaard, 1946. London, Oxford University Press, 1946.
2. Condliffet> J. B., The Reconstruction of World Trade. New York,
Norton, 1940.
3. Ellis, H. So, Exchange Control in Central Europe. Cambridge, Harvard
University Press, 1941.
4o Evitt, H. E., Exchange and Trade Control in Theory and Practice.
London, Pitman, 3d ed., 1952.
5- GATT , The Use of Quantitative Import Restrictions to Safeguard
Balances of Payments. London, Pitman, 3d ed., 1952.
6. Gordon, M. S., Barriers, ito World Trade. New York, Macmillan, 1941.
7. Haberler, G. and Hill, M., Quantitative Trade Controls, Their Causes
and Nature. Geneva, League of Nations, 1943 •
8. Haight, F. A., French Import Quotas, London, King, 19359* Heuser, H., Control of International Trade. Philadelphia, Blakiston, 1939•
10. Institute of Bankers, Banking and Foreign Trade. Lectures given at
5th International Banking Summer School, Christ Church, Oxford,
July 1952. London, Europa Publications, 1952, chaps by R. F. Kahn,
W. B 0 Reddaway and I. G. Pearce.
11• League of Nations, Enquiry into Clearing Agreements. Geneva, 1935•
12. Mason, E. S., Controlling World Trade. New York, McGraw-Hill, 1946.
13. Mikesell, R. F., Foreign Exchange in the Postwar World. New York,
Twentieth Century Fund, 1954.
14o Momtchiloff,N., Ten Years of Controlled Trade in South Eastern Europe.
Cambridge, Cambridge University Press, 1944.
15. Nurkse, Ragnar, Interwar Currency Experience. Geneva, League of Nations,
1943, chap. 7.
16. Ohlin, Bertil, International Economic Reconstruction. A Report. Paris,
International Chamber of Commerce, 1936.
17- Salera, Virgil, Exchange Control and the Argentine Market. New York.
Columbia University Press, 1941.
16. Tasca, H. J., World Trading systems. Paris,. International Institute
of Intellectual Cooperation, 193919. Trued, M. N., and Mikesell, R. F., "Postwar Bilateral Payments
Agreements." Studies in International Finance, No. 4. Princeton,
Princeton University Press, 195520. United Nations, The Quest for Freer Trade. New York, 195521. Viner, Jacob, Trade Relations Between Free-Market and Controlled
Economics. Geneva, League of Nations, 1945•
22. WeIk, W. Italian Commercial Policy and Foreign Trade. Washington,
U.S. Tariff Commission, 1941.
23. Wu, Yan-Li, Economic Warfare. New York, McGraw-Hill, 1952.
Articles:
1. Ames, Edward, "International Trade without Markets--The Soviet Bloc
Case," American Economic Review, XLIV, D e c , 1954, pp. 791-807.
2.
"Soviet Bloc'Currency Conversions," American Economic Review,
XLIV, June, 1954, pp. 339-53.
3*
4.
5-
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
"The Exchange Rate in Soviet-Type Economies," Review of
Economics and Statistics, XXXV, Nov., 1953> pp. 337-42.
Balogh, T., "A Note on the Economics of Retaliation" Review of Economic
Studies, XI, Summer 1940, pp. 86-90
"The Drift towards a Rational Foreign Exchange Policy,"
Economica, VII, March, 1940, pp. 1-26. Reprinted in Studies in War
Economics. Oxford, Blackwell, 1947Clay, Sir Henry, "The Case ..for Exchange Controls," Foreign Affairs,
July, 1950.
"
Clayton, G, "The Development of British Exchange Control, 1939-45/'
Canadian Journal of Economics and Political Science, XIX, May,
1953, pp. 161-73.
De Looper, J. H. C., "Recent Latin American Experience with Bilateral
Trade and Payments Agreements," IMF--Staff Papers, IV, Sept.,
1954, pp. 85-112.
de Neuman, A. M., "'Tied1 International Trading—the Indonesian Rami
Fibre Test Case," Economic Journal, LXIV, June, 1954, pp. 324-36.
Ellis, H. S., "Exchange Control and Discrimination," American Economic
Review, XXXVII, D e c , 1947, pp. 377-88.
"Bilateralism and the Future of International Trade„" Essays .
in International Finance No. 5- Princeton, Princeton University
Press, 1945.
"The Problem of Exchange Systems in the Post-War World,"
American Economic Review, Supplement, XXXII, March, 1942.
Fforde, J. S., "Cyclical Fluctuations and the Growth of Discriminatory
Alignments in International Trade," Economic Journal, LXV, March,
1955, PP. 36-51.
Fleming, J. M., "On Making the Best of Balance-of-Payment Restrictions
on Imports," Economic Journal, XLI, March, 1951> PP* 48-71.
Frisch, Ragnar, "On the Need for Forecasting: a Multilateral Balance
of Payments," American Economic Review, XXXVII, Sept., 1947>
PP. 535-51.
Gibbons, Alan 0., "Foreign Exchange Control in Canada, 1949-51"
Canadian Journal of Economics & Political Science, XIX, F$b.,
1953, PP. 35-54.
Haberler, G., "The Political Economy of Regional or Continental Blocs,"
in Postwar Economic Problems fed, by S. E. Harris J. New York,
McGraw-Hill, 1943Henderson, A., "The Restriction of Foreign Trade," The Manchester
School, Jan., 1949; pp. 12-36.
Hinbhu-', Bcrviall, "Professor Frisch on Discrimination and Multilateral
Trade," Review of Economics & Statistics, XXX, Nov., 1948, pp. 27I-5.
Hirschman, A."TXTT^Msinflation, Discrimination, and the Dollar Shortage,"
American Economic Review, XXXVIII, D e c , 1948, pp. 886-91.
Hoffman, M. L., "Problems of Trade between Planned Economies," American
Economic Review, Supplement, XLI, May, 1951, pp. 445-55.
Holzman, F., "Discrimination in International Trade," American Economic
Review, XXXIX, D e c , 1949.
Lenschow, Gerhard, ^Long-Term Economic Significance of Currency and
Trade Restrictions," Canadian Journal of Economics & Political
Science, XVI, Feb.,, 1950, pp. 63-9Meade, J. E., "The Removal of Trade Barriers--the Regional vs. the
Universal Approach," Economica, XVIII, May, 1951, pp. 184-98.
25.
Mikesell, R. F., "The Emerging Pattern of International Payments,"
Essays in International Finance. No. 18. Princeton, Princeton
University Press, April, 1954.
26.
"Discrimination and International Trade Policy," Review of
Economics & Statistics, XXXII, Aug., 1940, pp. 227-34.
27. Mladek, J. V., E. Sturc, and M. R. Wyczalkqwski, "The Change in the
Yugoslav Economic System," IMF--Staff Papers, II, Nov.,,1952,
PP. 407-38.
28. Momtchiloff, N. I., "Schachtian Mercantilism," Journal of Industrial
Economics, II, Aug., 1954, pp. 175-73.
29. 0TBrien, L. K., "The Technique of U. K. Exchange Control," in The
Pat.tern and Finance of Foreign Trade. London, Europa Publications,
30.
31.
32.
33.
34.
35.
36.
3738.
39.
40.
41.
42.
43.
Ohlin, Bertil, "Mechanisms and Objectives of Exchange Control,"
American Economic Review, Supplement, XXVII, March, 1937* PP» 141-50.
Polak, J. J.',"Balancing International Trade: A Comment on Professor
FrischTs Paper," Review of Economics & Statistics, Nov. 1948,
pp. 271-5.
Polk, Judd, and Patterson, Gardner, "The Emerging Pattern of Bilateralism,
Quarterly Journal of Economics, LXII, Nov., 1947, pp. 118-42.
Reedman, J. N., "Some Notes on the Theoretical Aspects of Import Quotas,"
South African Journal of Economics, IV, 1936, pp. 425-35•
Ritter, Carl, "Germany^ Experience with Clearing Agreements," Foreign
Affairs, XIV, April, 1936, pp. 46.5-75Rona, F., "Objectives and Methpds of Exchange Control in the United
Kingdom during the War and Post-War Transition,7 Economica, XIII,
Nov., 1946, pp. 259-77.
Sacchetti, Ugo, "Some Considerations of Triangular Trade as Influenced
by Retention Quota Arrangements, Economia Internazionale, VII,
Feb., 1954, pp. 65-8I.
Shannon, H. A., "The British Payments and Exchange Control System,j1
Quarterly Journal of Economics, LXIII, May, 1949, PP» 212-37.
Simkin, C. G. F., "Some Aspects and Generalizations of the Theory of
Discrimination," Review of Economic Studies, XV(l), No. 37, 1947/48,.
Smith, A. H., "Evolution of Exchange Control," Economica, XVI, Aug.,
1949, PP. 243-48.
Triffin, Robert, nExchange Control and-Equilibrium," in Foreign Economic
Policy for the United States." (New York, McGraw-Hill, 1948), r;
chap. 23.
"National Central Banking and the International Economy,"
in Postwar Economic Studies, No. 7. Washington, Board of Governors
Federal Reserve System, 1947; comments by H. D. Henderson, T.
Balogh, and R. F. Harrod, Review of Economic Studies, XIV, 1946-47
PP* 53-97.
Tsiang, S. C , "The Economics of Foreign Exchange Retention Schemes,"
Pt. 1, "Partial Devaluation Aspect," and Pt. 2, "Broken Cross Rates
Aspect and the Induced Commodity Arbitrage," Economia Internazionale,
Vol. VII, Aug., 1954, pp. 508-39, and Nov., 1954, pp. 780-802.
Wijnholds, H. W. J., "Import and Foreign Exchange Control in South Africa,
Union of So. Africa Finance & Trade Review, I, Jan., 1954.
3*
Capital Account in the Balance of Payments
a.
Short-Term Capital Movements and Transfer Problem
Books:
Bloomfield, A. I., Capital Imports and the American Balance of Payments,
1934-39. Chicago, University of Chicago Press, 1950, chaps. 2, 5,
and 8.
Fanno, Marco, Normal and Abnormal International Capital Transfers.
Minneapolis, University of Minnesota Press, 1939.
Fleetwood, E. E., Sweden's Capital Imports and Exports. Stockholm,
Natur och Kultur, 1947.
Iversen, Carl, Aspects of the Theory of International Capital Movements.
Copenhagen, Einar Munksgazrd, 2d ed., 1936. chaps. 2-3, and 13.
Kindleberger, C. P., International Short-Term Capital Movements.
Hew York, Columbia University Press, 1937.
League of Nations, The Course and Control of Inflation. Princeton,
League of Nations, 1946.
Economic Stability in the Post-War World. Geneva, League of
Nations, 1945, chap. 13.
Marsh, D. B., World Trade and Investment. New York, Harcourt,
Brace, 1951* chap. 4.
Nurkse, Ragnar, Internationale Kapitalbewegungen. Vienna, Springer, 1935.
United Nations, International Capital Movements during the Inter-War
Period. Lake Success, 1949.
Viner, Jacob, Canadags Balance of International Indebtedness, I9OO-I3.
Cambridge, Harvard University Press, 1924.
White, Ho D 0 , The French International Accounts, 1880-1913- Cambridge,
Harvard University Press, 1933°
Williams, J. H., Argentine International Trade under Inconvertible Paper
Money, I88O-T9OOT Cambridge, Harvard University Press, 1920.
Wilson, Roland, Capital Imports and the Terms of Trade. Melbourne,
Melbourne University Press, 1931•
Wood, Gordon, Borrowing and Business in Australia: A Study of the
Correlation between Imports of Capital and Changes in National
Prosperityo L ondon.
Articles:
Adler, J* H., ''Clandestine Capital Movements in Balance of Payments
Estimates/1 Quarterly Journal of Economics, LXIV, Aug., 1950.
pp. 477-828
Bailey, J. D., "Australian Overseas Liquidity, l870-l880,M Economic
Record, XXX, Nov., 1954, pp. 232-44.
Banker, The, "Bank Rate and Foreign Funds," June, 1954, pp» 315-27Bloomfield, A. I., "Speculative and Flight Movements of Capital in
Postwar International Finance/' Studies in International Finance
No. 3° Princeton, Princeton University Press, 1954.
Currie,:Lo B. ; "Domestic Stability and the Mechanism of Trade Adjustment
to International Capital Movements," in Explorations in Economics
(New York, McGraw-Hill, 1936), pp0 46-56.
Eastman, H. C , "The Role of Speculation in French Foreign Exchange
Crises/' Journal of Political Economy, LXI, iune, 1953, pp. 209-20.
Familton, R. J., "Balance of Payments Equilibrium and Monetary Policy,"
Economic Record, XXX, Nov., 1954, pp«
; comment by
R. W. Arndt, ibid6, XXXI, May, 1955•
Gottlieb, Manuel, YThe Reparations Problem Again," Canadian Journal of
Economics & Political Science, XVI, 1950, pp. 22-41.
Hoffman, M. L., "Capital Movements and International Payments in ,
Post-War," Review of Economics & Statistics, XXXI, Nov., 1949,
pp. 261-65.
Knapp, J. Burke, "The Theory of International Capital Movements and
Its Verification," Review of Economic Studies, X, 1943, pp. 115-21.
Leontief, W., "Note on the Pure Theory of Capital Transfer," in .
Explorations in Economics (New York, McGraw-Hill, 1936), pp. 84-91.
Machlup, Fritz, "Die Theorie der Kapitalflucht," Weltwirtschaftliches
Archiv, XXXVI, 1932, pp. 512-29.
Martin, K., "Capital Movements, the Terms of Trade, and the Balance of
Payments," Oxford Institute of Statistics, Bulletin, XI, May, 1949.
Metzler, L. A., "The Transfer Problem Reconsidered," in Journal of
Political Economy, L, 1942, pp. 397-414. Reprinted in Readings
in the Theory of International Trade,
Nurkse, Ragnar, "Recent Trends in the Theory of International Capital
Movements, in Problems of Capital Formation in Underdeveloped \
Countries. Oxford, Blackwell, 1953, chap VI.
Polak, J. J., "Balance-of-Payments Problems of Countries Reconstructing
with the Help of Foreign Loans," Quarterly Journal of Economics,
Feb., 1943, pp. 208-40.
Sadie, G. L., "Funk Money and Its Aftermath," South African Journal
of Economics, XIX, June, 1951Timm, Herbert, "Balance of Payments Equilibrium and Money Rate Movements"
(in German), Weltwirtschaftlich.es Archiv, Band 74, Heft: £, 1955>
PP. 30-9.
Whale, P. B., "International Short-Term Capital Movements," Economica,
VI, Feb., 1939/PP. 30-9Williams, J. H., "Monetary Stabilization and the International Flow
of Capital," Proceedings of the Academy of Political Science,
XVII, May, 1936, pp. 54-60.
For other readings on transfer theory, see Section II, items 14, 30,
33, and 46f i n Part I.
b,
Long-Term Capital Movements and Foreign Investment- -- Aspects of
Theory and Analyses of Earlier (Pre-1940) Experience
'
Books:
Buchanan, No S., International Investment and Domestic Welfare. New
York, Holt, 1 9 4 5 ™
~
~~
__^
and Lutz, F. A., Rebuilding the World Economy» New York,
Twentieth Century Fund, 1947 chaps. 4-9Cairncross, A. K., Home and Foreign Investment, l870-19i3» Studies
in Capital Accumulation. Cambridge, Cambridge University Press, 1953Feis, Herbert, Europe, The World?s Banker, 1870-1914. New Haven, Yale
University Press, 1930.
18
5*
6.
7.
8.
*
910.
11.
12.
13.
14.
* 15*
16.
17.
18.
19.
20.
21.
22.
23•
The Diplomacy of the Dollari First Era, 1919-32. Baltimore,
Johns Hopkins Press, 1950.
Harris Foundation Lectures, Foreign Investments. Chicago, University
of Chicago Press, 1928. Papers by T. E. Gregory and R. Kuczynski.
Hobson, C. K., The Export of Capital. London, Constable, 1914.
Jenks, LP H., The Migration of British Capital to I875. New York,
Knopf, 1927.
K i n d l e b e r g e r , C. P . , I n t e r n a t i o n a l Economics. Homewood, I r w i n , 1953,
chaps. I7-I80
Kuczynski, R., American Loans to Germany. New York, Macmillan, 1927Lewis^ Cleona, The United States and Foreign Investment Problems.
Washington, Brookings, 1948.
American Stake in International investments. Washington,
Brookings, 1938.
'
Madden, J. T. and Nadler, Marcus, The International Money Markets.
New York, Prentice-Hall, 1935and Sauvain, H. C , Americana
Experience as a Creditor Nation. New York, Prentice-Hall, 1935Marsh, D. B., World Trade and Investment. New York, Harcourt, Brace,
1951, chaps. 4-5, 30-33.
Marshall, H., Southard, F. A., Jr*, and Taylor, K., Candian-American
Industry. A Study in International Investment. New Haven, Yale
University Press, 1938.
Mintz, U s e , Deterioration in the Quality of Foreign Bonds Issued in
the United States, 1920-30* New York, National Bureau of
Economic Research, 1951*
Parkinson, j. p. £-Ed.t, Canadian Investment and Foreign Exchange Problems.
Toronto, University of Toronto Press, 1940.
Phelps, D. M., The International Economic Position of Argentina.
Philadelphia, University of Pennsylvania Press, 1938.
Remer, C. F., Foreign Investments in China. New York, Macmillan, 1933•
Rostow, W. W., British Economy in the Nineteenth Century. Oxford,
Oxford University Press, 194b.
~
Royal Institute of International Affairs, The Problem of International
Investment. London, Oxford University Press, 1937*
Thomas, Brinley^ Migration and Economic Growth. Cambridge, Cambridge
University Press, 1954*
Articles^
1. Balogh, To, "Some Theoretical Problems of Postwar Foreign Investment
Policy," Oxford Economic Papers, No* 7, Marcli, 1945*
* 2. Buchanan, N. S., "International Investment," in A Survey of Contemporary
, Economics, II. Homewood, Irwin, 1952, chap. 8.
3- Cairncross, A. K., "Die Kapitaleinfuhr in Kanada, 1900-13,M
Weltwirtschaftliches Archiv, Nov., 19374. Cameron, R. E., "T£e Credit Mobilier and the Economic Development of
Europe" Journal of Political Economy, LXI, D e c , 1953* PP« 461-88.
5*. Cooney, E. W., "Capital Exports and Investment in Building in Britain
and the U.S..A., I856-I914," Economica, XX, Nov., 19496. Pomar, E. D., "The Effect of Foreign Investment on the Balance of
Payments," American Ec&nomic Review, .XL, D e c , 1950, pp. 805-26.
19
7»
8*
910.
11.
12.
13.
14.
15*
16.
* 17.
* 18.
19*
Duncan, A. J*, "South African Capital Imports,; 1893-98/1 Canadian
Journal of Economics & Political Science, XIV, Feb., 1948•
dfenks, L. H0;>British Experience with Foreign Investments. Tasks of
Economic History,, D e c , 1944, pp. 68-79.
Hancock, H» K., "Agenda for the Study of British Imperial Economy,
1850-1950," Journal of Economic History, Summer, 1953Imlah, A. H., "British Balance of Payments and Export of Capital,
1816-1913/' Economic History Review, V, 1952, pp. 208-39Kleiner, George, "Economic Developments Nineteenth Century and Today,"
Current Economic Comment, Aug., 1955*
Landes, D. S., "The Statistical Analysis of Anglo-American Economic
Development," World Politics, VII, Jan., 1955, pp. 325-36.
Lary, Hal B., "The Domestic Effects of Foreign Investment," American
Economic Review, XXXVI, May, 1946, pp. $72-85.
Lenfant, J. H., -"Great Britains's Capital Formation, 1865-1914,"
Economica, XVIII, May, 1951.
EPurkse, Ragnar, "The Problem of International Investment Today in the
Light of Nineteenth Century Experience," Economic Journal, LXIV,
D e c , 1954, pp. 744-58.
Pentland, H. C , "The Role of Capital in Canadian Economic Development
before l875/r Canadian Journal of Economics & Political Science,
XVI, Nov., 1950.
Salter, Sir Arthur, "Foreign Investment," Essays in International
Finance No. 12. Princeton, Princeton University Press, 1951Singer, H. W., "The Distribution of Gains between Investing and
Borrowing Countries," American Economic Review, Supplement, XL,
May, 1950, pp. 473-85Thomas, Brinley, "Migration and the Rhythm of Economic Growth, 18301913," The Manchester School, Sept., 1951-
20
PART III
INTERIMTIOIAL MONETARY ECONOMICS: MONETARY THEORY AMD HISTORY OF INTERWAR
YEARS;"
A.
Pre-1914 Central Banking and Gold Standard: Some Selected Studies
Books:
1. Andreades, A., History of the Bank of England, 1640-1903- Translated
by C. Meredith. London, King, 2d ed., 1924.
2. Ashton, T. S., and Sayers, R. S. CEds.3, Papers in English Monetary
History. Oxford, Clarendon Press, 1953.
3. Bagehot, Walter, Lombard Street ; [[Withers ed,].Lpndon, Murray, 1917*
4. Beach, E. F., British International Gojjj Movements and Banking Policy,
1881-1913* Cambridge, Harvard University Press, 1935*
5. Clapham, Sir John, The Bank of England. Cambridge, Cambridge University
Press, 1944. 2 vols.
6* Conant, C. A., A History of Modern Banks of Issue. New York, Norton,
Putnam, 5th ed., 1915..
7. Condliffe, J. B., The Commerce of Nations. New York, Norton, 1950.
8. j^Iqrgan, E. V., The Theory and Practice of Central Banking, 1797-1913.
Cambridge, Cambridge University Press, 1943*
9. Sayers, R. S., Bank of England Operations, 1890-1914. London, King,
1936.
10. Viner, Jacob, Studies in the Theory of International Trade. New
York, Harper, 193711. Wood, Elmer, English Theories of Central Banking Control, I819-I858.
Cambridge, Harvard University Press, 1939*
Articles:
1. Bopp, Karl R., "The Bank of England," Canadian Journal of Economics
and Political Science, XI, Nov., 1945.
2.
"Reichsbank Operations: 1876-1914." Philadelphia, Federal
Reserve Bank, 1953- Mirpeographed, 88 pp.
3.
and Wood, Elmerc, "Die T&tigkeit der Reichsbank von 1976 vis
1914." Weltwirtschaftliches Archiv, Band 72, Heft 1. 1954,
PP. 34-57-and Bank 72, Heft 2, 1954, pp. 179-222.
4. Michel, H., "The Gold Standard in the Nineteenth Century," Canadian
Journal of Economics and Political Science, XVII, Aug., 19515. Viner, Jacob, "Clapham on the Bank of England," Economica, XII, May,
1945, pp. 61-68.
6. Walker, C. H., ?The Working of the Pre-War Gold Standard," Review of
Economic Studies, Vol. I, 1934, pp. 196-2097. Whale, P. B., "The Working of the Prewar Gold Standard," Economica,
IV (new Series), 1937, PP« 18-32; comment by M. L. Hoffman and
reply, ibid., V, 1938, pp. 84-92.
Monetary Theory:
Some Leading Contributions in Interwar Period
Books:
Cassel, Gustav, The Theory of Social Economy. Translated from the 5th
German ed* New York, Harcourt Brace, rev. ed., 1932.
Chlepner, B. S 0 , Belgian Banking and Banking Theorye Washington,
Brookings, 1943Economic .Essays in _
Honour
London, Allen and Unwin,
_ _ of Gustav
_ _ _ Cassel.
____
1933
Ellis, Ho S., German Monetary Theory, 1905-23Q Cambridge, Harvard
Hawtrey, R. Go, Currency and Credit0 London, Longmans, 5th ed., 1950.
Capital and Employment. London, Longmans, 2dreve ed., 1952*
_ _ _ _ _ A Century of Bank Rate. London, Longmans, 1938.
______________ The Art of Central Banking. London, Longmans, 1932.
Hayek, F, A. von, Prices and Production. London Routledge, 2d ed., 1935.
Keynes, JD M., The General Theory of Employment, Interest and Money.
Londqn, Macmillan, 1936 •
™~
~"
A Treatise on Money, 2 vols. New York, Harcourt, Brace, 1930.
A Tract on Monetary Reform. London, Macmillen, 1923.
Robertson, D. H., Essays in Monetary Theory,, London Staples Press, 1946.
_ _ Money. New York, Pitman, 6th ed.", 1948.
Banking Policy and the Price Level. London, King, 3d ed., 1932.
Wicksell, Knut, Interest and Prices0 Introduction by B. Ohlin. London,
Problem of Monetary Stabilization in Interwar Period
1.
International Gold Standards The Interwar Controversy
Books:
Brown, W. A., JrQ, The International Gold Standard Reinterpreted,
1914-34. New York, National Bureau of Economic Research, 1940.
Cassel, Gustav, The Downfall of the Gold Standard o New York., Oxford
University Press, 1936.
Gayer, A. P., Monetary Policy and Economic Stabilization. New York,
Macmillan, 2d ed., 1937.
Graham, FQ D., and Whittlesey, C. R., Golden Avalanche. Princeton,
Princeton University Press, 1939*
Gregory, T. E., The Gold Standard and Its Future. New York, Dutton,
2d ed., 1935Hawtrey, R0 G., The Gold Standard in Theory and Practice. London,
Longmans, 5"th ed*, 1947.
Mlynarski, Feliks, Gold and'Central Banks, New York, Macmillan, 1929.
Puxley, H. L., A Critique of the Gold Standard. New York, Harper, 1934.
Royal Institute of International Affairs, The International Gold Problem.
London, Oxford University Press, 1931*
Webb, Sir Charles Morgan, The Rise and Fall of the Gold Standard. New
York, Macmillan, 1934.
Williams, John H., Post-War Monetary Plans. Oxford, Blackwell, 4th
ed., 1949, Part VI.
Wright, Quincy {jEd0[} , Gold and Monetary Stabilization, Chicago,
University of Chicago Press, 1932„
2.
Monetary and Exchange Policies (1914-1939): Aspects of World
Financial History
a
°
Devaluations of the 1920*s and Currency Stabilization Experiments
Books:
1. Bordes, J0 van Walre, The Austrian CrownQ London, King, 1924.
2. Bresciani-Turroni, C , The Economics of Inflation: A.Study of Currency
depreciation in Post-War Germany. London, Allen & Unwin, 1937.
3o Brown, WD A., Jr,, England and the New Gold Standard, 1919-26. London,
:
King, 1929.
~ ~ ~
"
~
4. Cassel, Gustav, Money and Foreign Exchanges After 1914, London,
Macmillan, 1922.
'"
5Post-War Monetary Stabilization. New York, Columbia
University Press, 1928.
6. Copland, D» B,, Credit and Currency Control, with Special Reference to
Australia. Melbourne, University Press, 1930.
7,. Dulles, E. LI, The French Franc, 1914 to 1928. New York, Macmillan, 1929
8. Graham, F. D., Exchange, Prices, and Production in Hyper-Inflation:
Germany, 1920-23. Princeton, Princeton University Press, 1930*
9, Gregory, T. E, The First Year of the Gold Standard. London, Benn, 1926.
10. Hawtrey, R. Go, Monetary Reconstruction. London, Longmans, 3d ed., 1939•
11. Heckscher, Eli, Sweden ' s" Monetary "History, 1914-2$ . New Haven," Yale
University Press, 1930,
12. Henderson, Sir Hubert, The Inter-War Years and Other Papers, ed. by Q±T
Henry Clay0 Oxford, Clarendon Press, 1955^ Part I.
13. Hill, Martin, The Economic and Financial Organization of the League
of Nations, Washington, Carnegie Endowment for International
Peace, 1946, chaps. Ill and V.
14. Inouye, Junnosuke, Problems of the Japanese Exchange, 1914-26. London,
Macmillan, 1931°
15. Jack, D. To, The Restoration of European Currencies. London, King.
l6o Katzenellenbaum, S, S., Russian Currency and Banking, 1914-24. London,
King, 1925.
17. Lewis, Wo Arthur, Economic Survey, 1919-39* London, Allen & Unwin,
1950, chaps. 2-3.
18. Mitsakis, Michel, Les credits exterieurs, leur nature et leur role dans
la defense des monnaies Europgennes 1920r38» Paris, Les Editions
Internationales, 1939°
19o Moreau, Emile, Souvenirs d*un gouverneur de la Banque de France:
histoire de la stabilisation du franc, 1926-£?<Eu Paris, Lib. de
Mecicis, 1954*
20. Morgan, E 0 V«, Studies in British Financial Policy, 1914-25. London,
Macmillan, 1952.
21. Meyers, Margaret, Paris as a Financial Centre. New York, Columbia
—
University Press, 19360
~~
"
22. Nogaro, B0,A Shprt-^Ereatlse on Money and Monetary Systems. London,
Staples'Press, 1949* Chap, III (Pt. 2 ) .
— —
23. Northrop, Mildred B., Control Policies of the Reichsbank, 1924-33*
New York, Columbia University Press, 193^24. Pigou, A 0 Co, Aspects of British Economic History, 1918-2$, London,
Macmillan, 1947, Part V.
25.
Rogers, J. H., The Process of Inflation in France, 1914-36» New York
Columbia University press, 1936.
~
"
26. Schacht, Hjalmar, The Stabilization of the Mark, London, Allen and
Unwin, 1927.
*":: 27. Silberling, U. J. The Dynamics of Business, New York, McGraw-Hill,
1943, chaps. 12-14.
28. Ulrich, Edmond, Les principes de la reorganisation des banques centrales
en Europe apr£s la guerre. Paris, Recueil Sirey, 1931*
290 Young, John P., The International Economy, New York, Ronald Press,
3d rev. ed0, 1951.
30.
European Currency and Finance. Commission of Gold and
Silver Inquiry. Washington, GPO, 1925b»
Devaluations of 1930!s« Exchange and Monetary Problems and
Policies in Depression and Recovery
Books:
1. Arndt, H. W., The Economic Lessons of the Nineteen Thirties. London,
Oxford University Press, 1944.
2. Bernstein, E. M,, Money and the Economic System. Chapel Hill,
University of North Carolina Press, 1935*
3. Cassel, Gustav, The Crises in the WorldTs Monetary System. Oxford,
Clarendon Press, 2d ed,, 1932.
4. Cole, Go D. H,, Money, Trade and Investment. London, Cassell, 1955/
5. Copland, D. B., Australia in the World Crisis, 1929-33- New York,
Macmillan, 1934c
6. Day, John P., An Introduction to World Economic History since the
Great War. New York, Macmillan, 19397. Durbin, E. F. M., The Problem"of Credit Policy. London, Chapman &
Haiiri935." ::
*
*
*
*
8. Fraser, H. F., Great Britain and the Gold Standard. New York,
Macmillan, 19339. Gayer, A» Da pEd.]. , The Lessons of Monetary Experience. New York,
Farrar & Rinehart, 1937*
10. Gilbert, Milton, Currency Depreciation and Monetary Policy. Philadelphia,
University of Pennsylvania Press, 193911. Guillebaud, C. W., The Economic Recovery of Germany, 1933-38» London,
Macmillan, 1939*
12. Hall, N F,, The Exchange Equalisation Account. London, Macmillan, 193513, Hawtrey, R. G., Trade Depression and the Way Outo London, Longmans, 2d
ed., 1933.
14. Hayek, F. A., Monetary Nationalism and International Stability. New
York, Longmans, 1937*
15. Heaton, Herbert, The British Way to Recovery: Plans and Policies in
Great Britain, Australia, and Canada. Minneapolis, University
of Minnesota Press, 1934.
16. Henderson, Sir Hubert, The Triter-War Years0 London, Oxford University
Press, 1955, Part II, and Part IT, chap. 4.
17. Horwitz, Paula, Les fonds d'egalisation des changes et leurs functions
economiques. Preface by F. W. Paish. Lausanne, Roth, 1940.
18• International Chamber of Commerce, The Problems of Monetary Stabilization,
Paris, 1936.
24
19.
Johnson, G« G., The Treasury and Monetary Policy, 1933-38- Cambridge,
Harvard University Press, 1939•
20. Knox, F. A., Dominion Monetary Policy, 1929-34. Ottawa, Royal
Commission on Dominion-Provincial Relations, 1939* 21,.. Lewis, ¥. A., Economic Survey, 1919-39» London, Allen & Unwin, 1950.
22. Mendes-France, P. and Ardant, H., Economics and Action. New York,
23. Montgomery, Arthur, How Sweden Overcame the Depression. Stockholm,
Bonniers, 1938 *
24. Morton, ¥. A«, British Finance, 1930-40. Madison, University of
Wisconsin Press, 1943•
* 25. Nurkse, Ragnar, International Currency Experience: Lessons of the
Inter-War Period. Geneva, League of Nations, 1943=
26. Paris, J* D., Monetary Policies of the United States, 1932-38. New
York, Columbia University Press, 1938. ~~~
27. Pasvolsky, Leo, Current Monetary Issues. Washington, Brookings, 1933*
28• Peterson, E 0 No, Hjalmar Schacht, For and Against Hitler. Boston,
Christopher Pub0 House, 1954.
*"'• 29. Robbins, L. C», The Great Depression. London, Macmillan, 1934.
30. R$pke, W e , International Economic Disintegration. New York, Macmillan,
2d ed., 1950o
31. Royal Institute of International Affairs, Monetary Policy and the
Depression. London, Oxford University Press, 1935*
32e
The Future of Monetary Policy, London, Oxford'University
Press, 1935.
33* Salter, Sir Arthur, Recovery, the Second Effort. New York, Century,
1932.
* 34* Thomas, Brinley, Monetary Policy and Crises. London, Routledge,
1936.
' - — — — — — — — — 35- U. K., Macmillan -Commission on Finance and Industry. Report fcrnd* 3897I.
London, H.MoScO., 1931.
"
36. Waight, Leonard, The History and Mechanism of the Exchange Equalization
Accounto Cambridge, Harvard University Press, 1939.
37- Walker, E. R., Australia in the World Depression. London, King, 1933.
38. Warren, G. F.; and Pearson, F. A., Gold and Prices. New York, Chapman
& Hall, 1939.
'
39* Whittlesey, C* R», International Monetary Issues. New York, McGraw-Hill,
1937—
" "
~
Articles:
1. Bloomfield, A* I 0 , "Operations of the American Exchange Stabilization
Fund," Review of Economic Statistics, XXVI, May, 1944.
2 e Chand, Go, "The Exchange Stabilization Funds: Their Functions and
Future," Indian Journal of Economics, April, 1940.
3. Comstock, A 0 , TIBritish Exhhange~Equalization Account," American
Economic Review, XXIII, D e c , 1933* PP* 608-21.
4. Crump, Norman, "The Development of Exchange Funds," Lloyds Bank Review,
Jan., 1937.
—
5. Currie, L. B., "The Failure of Monetary Policy to Prevent the Depression
of 1929-32,".Journal of Political Economy, XLIII, April, 1934,
pp. 145-77- • - — — — - — - — — - — —
6e Ehrman, H. W., "The Blum Experiment and the Fall of France," Foreign
Affairs, Oct., 1941.
*~
7.
8.
9.
10.
11.
12.
13.
14.
1516.
17.
18.
19.
20.
21.
D.
Horsefield, J. K., "Currency Devaluation and Public Finance, 1929-37/'
Economical VI, Aug., 1939, pp. 322-44.
Kalecki, M., "The Lesson of the Blum Experiment/1 Economic Journal,
LXIV, March, 1938.
Lees, D. S., "Public Departments and Cheap Money, 1932-38," Economica,
XII, Feb., 1955.
"The Technique of Monetary Insulation, Dec. 1932 to Dec. ..
1937/' Economica, XX, Nov., 1953, pp. 341-55Marjolin, Robert, "Reflection's on the Blum Experiment," Economica, V,
1938, pp. 177-92.
Nevin, Edward, "The Origins of Cheap Money, 1931-32," Economica,.XX,
Feb., 1953, pp. 24-37.
Paish, F. W., "Case for a Divided Gold Reserve: Reforming the
Exchange Account," The Banker, CIV, No. 349, Feb..,, 1955, pp. 87-90.
"Cheap Money Policy," Economica, XIV, Aug., 1947. Reprinted
in The Post-War Financial Problem. London, Macmillan, 1950.
"Twenty Years of the Floating Debt," in The Post-War Financial
Problem.
"The British Exchange Equalisation Fund," Economica, IV.,
j
Aug., 1937. and ibid., II, Feb., 1935, pp. 6l-74.
Pumphrey, L, M., "The Exchange Equalization Account of Great Britain,
1932*-39: Exchange Operations," American Economic Review, XXXII,
D e c , 1942, pp. 803-16.
Rist, C , "Les fonds d'egalisation des changes et leur action sur les
prix et sur l'activite £conomique," Revue d'Economie Politique,
Nov v-Dec, 1938.
Schwob, P. A., "French Monetary Policy and Its Critics," Economica,
II, 1935, pp. 277-97; comment by R. G. Hawtrey, and reply, ibid.,
III, 1936, pp. 61-77.
Solomon, Robert, "The French Exchange Stabilization Fund," Federal
Reserve Bulletin, Jan., 1950.
Wood, G. L., "Some Lessons of the American Experiment," Economic
Record, Supplement, April, 1939;, pp. 119-34.
International Monetary Cooperation-- Past and Present
1. Bank for International Settlements
Books:
1. Asch, Sylvain, Monnaie et Finance: Le Role de la Banque des Reglements
Internationaux apres l!Etalon Or. Paris, Alcan, 1932. "
2. Dulles, E. L., The Bank for International Settlements at Work. New
York, Macmillan, 1932.
f
3. Mendes-France, Pierre, La Banque Internationale. Paris, Lib. Valois,
1931.
4. Papi, Giuseppe U., The First Twenty Years of the Bank for International
Settlements. Rome, Bancaria, 1951. Contains an extensive
bibliography.
Articles:
1. Aulooin, Roger, "The Bank for International Settlements, 1930-55/'
Essays in International Finance No. 22. Princeton, Princeton
University Press, 1955^° _ _ _ _ _ n L a ^ a n Q u e ^ e s Reglements Internationaux et 1 "Union
Europeenne des Paiements," Kyklos,. VII, Fasc. l/2, 1954, pp. 39-60.
3. Barclays Bank Review, "The Central Bankers< Bank," XXX, Aug., 1955,
ppe 51-534. Dulles, Eo Lo, "The Bank for International Settlements in Recent
Years," American Economic Review, XXVIII, June, 1938, pp* 290-304.
2.
International Monetary Fund
Offical Documents
1.
International Monetary Fund, Annual Report. Washington, D. C , 1955*
Books:
1. Bresciani-Turroni, C , Economic Policy for the Thinking Man.- London,
Hodge, 1950, pps 243-70.
2. Coulborn, W 0 A e L*, A Discussion of Money0 London, Longmans, 1950,
yp. 291-302.
3. Crump], Norman, The ABC of Foreign Exchanges. London, Macmillan, rev.
eda, 1950, pp0 200-39.
4» Halm, Go N., International Monetary Cooperation. Chapel Hill,
University of North Carolina, 2d rev. ed0,
5. Harris, S. E.J^Ed.J, Foreign Economic Policy for the United States.
Cambridge, Harvard University Press, 1949• Pt. V.
6. Harrod,R. F. A Page of British Folly. London, Macmillan, 1946.
7. Hawtrey, R. G., Bretton Woods for Better or Worse. London, Longmans,
1946.
8. Marsh, De B D , Werld Trade and Investment. New York, Harcourt, Brace,
1951, pp0~425-440
———————-, 9. Mikesell, RD Fo, United States Economic Policy and International
Relations. New York, McGraw-Hill, 1951> chap. 26.
10. Tew, Brian, International Monetary Cooperation, 1945-52. New York,
Longmans, 195211. Williams, J8 H., Post-War Monetary Plans«, Oxford, Blackwell, 4th rev.
ed0, 1949.
12o Young, John P., The International Economy. New York, Ronald Press, 1951*
Articles:
1. Behrman, J* No, "Alternative Lending Policies for the International
Monetary Fund,11 Review of Economics 8c Statistics, XXXVI, Aug.,
1954, pp» 338-43o
^
2. Gudin, Eugenio, f!Le probleme de l*equilibre international et les
i^endences actuelles du Fonds Monetaire International," Politique
Etrangere, XVII, Jan., 1953, PP» 461-70.
27
Haberler, G,, "Reflections on the Future of the Bretton Woods System,"
American Economic Review, Supplement, XLIII, May, 1953, pp. 81-95*
Haeze, M y d f , "Le Fonds mon^taire international et la collaboration
monetairevinternationale durant la derniere decade," Annales de
Sciences Economiques et Appliquees (Louvain), Feb., 1954- ,
James, Emile and Tha^lk-Khoi, Le, "Les difficultes du Fonds Monetaire
International et leurs causes,"" JCyklos, VII, Fasc. 1-2, 1954,
pp. 91-106.
^
Jancauskas, R. C , "Evaluation of the International Monetary Fund."
Washington, Catholic University of America Press, 1955* 29 pp.
Merwin, C. L., "Qu'advient^il du Fonds Monetaire International?"
Revue Jj&onomique, March, 1954, pp. 252-62.
Moller, Hans, "Die Beziehungen der Bundesrepublic zum Internationalen
WHhrungsfonds und zur Internationalen Bank ftfr Wdederaufbau und
Entwicklung/Europa Archiv, IX, Oct., 1954, pp. 659-64.
For articles on exchange rate policies, see above Pt. II, Sees. IV-3-1.
PART
IV
CONTEMPORARY PROBLEMS IN WORLD FINANCE
A.
The Dollar Problem
Official Documents:
1.
O.E.E.C, From Recovery towards Economic Strength £6th Annual Report].
Paris, March, 1955. Chap. III.
2. United Nations, World Economic Report, 1953-54. New York, 1955 > see
Part II, Chap. 2.
3. U.S. Commission on Foreign Economic Policy, Report to the President
and the Congress« Washington, Jan., 1954.
4.
Staff Papers. Washington, Feb., 1954.
Books:
1. Balogh, Thomas, The Dollar Crisis. Oxford, Blackwell, 1949.
2. Harris, S. E. fcEd.j, Foreign Economic Policy for the United States.
Cambridge, Harvard University Press, 194b, chaps, by G. Haberler
and A. H. Hansen.
3. Harrod, RoyF., The Dollar. London, Macmillan, 1953, chap. 4.
4. Hawtrey, R. G.,fThe Balance °£ Payments and the Standard of Living*
New York, Wiley/"T.950.
5. Kindleberger, C. P. Dollar Shortage. New York, Wiley, 19536. Lary, Hal B., The United States in the World Economy. Washington,
Department of Commerce, 19437. Lubell,: Samuel, The Revolution in World Trade. An American Economic
Policy. New York, Harper, 19558. MacDougall, Sir Donald, The Long-Run Dollar Problem. London,
(tentative), 1956.
9° Marjolin, Robert, Europe and the United States in the World Economy.
Durhams Duke University Press, 195310c Palyi, Melchior, The Dollar Dilemmas Perpetual Aid to Europe? Chicago,
Regnery, 1954.
11. Robbins, L.C., The Economist in the Twentieth Century. London, Macmillan,
1954.
~ ~
12. Robertson, D. H., Britain in the World Economy. London, Allen and
Unwin, 1954, chap. 3"-13. Schassman, Werner, Die Zahlungsbilanzschwierigkeiten Westeuropas nach
den II. Weltkrieg, insbedsondere gegenffber den U.S.A. Zurich,
Polygrafischer Verlag, 1954.
Articles:
1. Balogh, T., nThe Dollar Shortage Once More," Scottish Journal of
Political Economy, II, June, 1955*
^* _ _ _ _ _ !fr^ile dollar Crisis Revisited,M Oxford Economic Papers,
VI, Sept., 1954, pp. 243-84.
3o Bernstein, E. Mo, "American Productivity and the Dollar Payments
Problem," Review of Economics & Statistics, XXXVII, May, 1955*
pp. 101-09.
29
4.
5.
6.
7.
8.
*
9*
*
10c
11.
*
12.
*
13.
^*
15.
16.
17.
-^*
19.
*
20.
21.
22
•
23.
24o
25„
260
27.
28.
Bloch, Ernest, "UoS, Foreign Investment and Dollar Shortage/1 Review
of Economics & Statistics, XXXV, May, 1953, pp. 154-60„
Brozen, Yaley"Solutions for the Brazilian Dollar Shortage," Current
Economic,Comment, XVII, May, 1953, pp. 19-28.
Busschau, W* Ja, "The Case for Increasing the Price of Gold in Terms of
All Currencies," South African Journal of Economics. XII, March,
1949, PP. 1-22.
Dacey, W. Manning, "Wanted American Capital Exports," Lloyds Bank; Review,
Oct,, 1950, pp. 38-53.
,
,
Ducros, Bernard, nLes investIsd^ment am&ricains a lf etranger et
1'equilibre international," Revue Economique, March, 1954, pp* 190-216.
Ellis, H. So, "The Dollar Shortage in Theory and Fact/1 Canadian Journal
of Economics & Political Science, XIV, Aug., 1948, pp. 358-72.
™
Graham, F^o Do, "The Cause and Cure of 'Dollar Shortage,1" Essays in
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—
_ _ _ _ _ _ _ _ _ _ _
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~
"Productivity in an Expanding Economy," Economic Journal,
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__^_
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Currency Convertibility and Related Problems of the EPU and International
-fteserves
— —
~ ~
Official Reports and Statements
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for 1955).
2.
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5* ________ ^ e R e n e w a l o f ^ e European Payments Union and the Establishment
~"
of a European Fund." Paris, June 13, 1955 •
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2. Dxebold,William, Trade and Payments in Western Europe, A Study in Economic
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Europe and Its Contribution to Economic and Social Progress, Brussels,
The League, 1953»
36
4.
Gaston, J. F. and others, "Convertibility and Foreign Trade," New York,
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Zurich, Eugen Rentsch Verlag, 1954. Papers by G. Haberler,
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6. Robbins, L, C , The Economist in the Twentieth Century. London, Macmillan,
1954..
7. Thorp, Willard, Trade> .Aid9 or-What? Baltimore, Johns Hopkins Press,
1954, chap. 7.
8e Winder, George, The Free Convertibility of Sterling, London, Batchworth
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1. Albrecht, Karl, "Die Wirtschaftlichen Aspekte der KonvertibilitSt,"
Economia Internazionale, VIII, May, 1955* PP« 231-45.
2. American Bankers Association, International Currency Convertibility.
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Australian
Quarterly, Dec., 1954.
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5. Badger, D. G., "Australia's Holdings of Gold and Foreign Exchange,"
Economic Record, XXIX, May, 19556. Banker, The, current issues.
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of Trade and Payments," National Bank of India, Ltd., Review,
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8. Bresciani-Turroni, C., "On the Convertibility of the Lira," Review of
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9. Boyer,.F. and Salle, J. P., "The Liberalization of Intra-European Trade
in the Framework of OEEC," IMF--Staff Papers, IV, Feb., 1955,
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American Economic Review, Supplement> XLIII, May, 1953*
11. Bruppacher , W., "Outline of the Technical Working of the European
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12. Cammann, EL /Grossbritannien und die europMsche Zahlungsunion," Eur op a
Archiv, Oct. 1953.
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Ekonomique et 1'Union Europeenne des Paiements," VII, Sept., 1954,
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Wirtschaftsberichte, VI, No. 21, April, 1954.
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Asian Payments Union," Economic Research Journal, I, no. 2, Sept.,
1954, P P ^ 73-6.
'f
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_____
"Wart Kind of Convertibility? fl Lloyds Bank Review, April, 1953,
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"The Price of Sterling Convertibility," Economia Internazionale,
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*
7
Dieterlen, P., "A propos de la convertibilite: le conflit des donnees et
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}
June, 1953.
Leith-Ross, Sir Frederick, "Sterling Convertibility," South African
Journal of Economics, March, 1953.
Mangold, Hans K. von, "Die europgische Zahlungsunion und ihre Aufgaben
bei der Neurordnung des internationalen Zahlungsverkehrs. Kiel,
Institut fyr Weltwirtschaft, 1953, 20 pp.
Marget, A. \T., "The Road to Convertibility" [in German], Der Oesterreichische
Volkswirt (tienna), June 3, 1955, pp. 5-7.
38
43•
"Currency Convertibility-Why and When? Address before the
American Cotton Shippers Assnc, New Orleans, April 30, 1954.
Washington, Board of Governors, 1954, 19 pp.
/
44. _________ LJ0«EeE.Ce
et le developpement de la cooperation economique
europ^enne, in European Yearbook^ Volo I-, ed. by B. Landheer^
and A0 H. Robertson, The Hague, Martinus Nijhoff, 1955.
45. Marjolin, Robert, "The European Trade and Payments System: A Study in
Co-operation.,11 Lloyds Bank Review, Jan0,yL954, pp. 1-15/
, 46. Masoin, M., Convertibilite'et liberation des echanges,* Revue d* Economie
Politiquef May-June, 1955 > PP. 301-32.
47. Meade, J0 E 0 , "The Convertibility of Sterling," Three Banks Review,
Sept., 1953.
48. Moeller, H., Ruestow, H. J., and Genzer, E. W.,,.Das Problem der
KonvertlBilit'&t der europaischen Wahrungen," Europa Archiv, X, Feb.,
1955.
49. Murpby, Ho C e , and others,"The Adequacy of Monetary Reserves," IMF Staff
Papers, III, Oct., 1953, pp. l8l»227.
50. Nurkse, Ragnar, nThe Problem of Currency Convertibility Today," Proceedings
of the Academy of Political Science, XXV, May, 1953, PPo 61-78.
51. Ohlsen, Lotte M., Die WShrungsprobleme der wirtschaftlichen Integration,
Europas," Weltwirtschaftliches Archiv, No. 1, 1954.
52. O.E.E.C, Bibliographies, No. 1; on European Payments Union and Convertibility
of Currencies, 1951-54. Paris, OEEC, 1954.
53. Robertson, Dennis H 0 , "Convertibility," in The Post-War Functioning of
Banking> Return to Normal? Lectures given at 7th International
Banking Summer School,, Madrid, Consejo Superior Bancario, 1955> PP» l-l6.
54. _^
"The Path of Progress towards Currency Convertibility,ir Optima,
March, 1954.
55. Ropke, Wilhelm, "Les voies de la convertibility, Bulletin d'Information
et de Documentation ^National Bank of Belgium!), April, 1954.
56. Sargent, J. R., "The Background to Sterling Convertibility,n The Political
Quarterly, XXVI, Jan.-March, 1955, pp0 55-65.
57"The Reform of E.P.U.," Oxford Institute of Statistics, Bulletin,
XVI, Feb.-March, 1954, pp« 73-9.
58° _ _ _ _ _ _ "Convertibility," Oxford Economic Papers, IV, Feb,, 19540
59, Suviranta, Br., "The Foreign Exchange Reserves," Unitas. Aug0, 1953,
pp. 80-5.
60. Triffiix, Robert, "Die Konvertibilitat und die inner-eurqpaische
wirtscMftliche und finanzielle Zusammerarbeit," Aussenvirtschaft,
IX, D e c , 1954.
,
/
^e
• "Convertibilite ou integration?" Economie Appliquee, VII, Oct.-Dec,
1954.
62.
"International Currency and Reserve Plans," Banca Nazionale del
Lavoro, Quarterly Review, Jan,^June, 1954, ppY 5-22.
63v^J^Monetary Reconstruction in Europe/*International Conciliation No. 482,
June, 1952.
*64. Willis, G. Ho, "Convertibility—The Current Approach," Journal of Finance,
X, May, 1955, PP. 152-69.
D.
Economic Integration
Books:
1. Brunner, Karl,, and others, Die Integration des Europaischen Westens.
Aurich, Polygraph Verlag, 1954.
2. Carmoy, Guy de, Fortune de 1'Europe. Paris, Eds. Donat, 1953o English ed.
3- Carnegie Endowment for International Peace., L'Integration economique
de 1'Europe. Paris, Presses Universitaires de France, 19534. Council of Europe, The Present State of Economic Integration in Europe0
Strasbourg, May, 1955c
5*
Full Employment Objectives in Relation to the Problem of
European Co-operation. Strasbourg, 1951•
6. D'Estaing, E e G., La France et lgunification economique de 1'Europe.
Paris, Lib. de Medicis, 1953
7. DIebold, William, The Schuman Plan. New York, Harper ^tentative], 1956.
8. European Movement, The Economic Future of Europe; Preliminary Papers
of 2d Conference of Westminster. London, Deutsch, 1954.
9. Hahn Carl H., Per Schuman Plan. Munich, Richard Pflaum, 195310. Hawtrey, R. G., Western European Union—Implications for the United
Kingdom. London, Royal Institute of International Affairs, 194911. Institut International de Finances Publiques, Aspects Financiers et
Fiscaux de 1'Integration Economique Internationale. Brussels,
The Institute," 1953c See'paper by C. S. Shoup, pp. 89»ll8.
12. Kohr, Leopold, Customs Unions;; A Tool for Peace, Washington, Foundation for
Foreign Affairs, 1949.
13. Kover, J. F., Le Plan Schuman . Paris, Nouvelles Eds. Latines, 1952c
14. Lavergne, Bernard, Le Plan Schuman: Expos^ et Critique de sa Portee
Elconomique et Politique. Paris, 195 lo
15. Liepmann, H., Tariff Levels and the Economic Unity of Europe. London,
Allen & Unwin, 1938.
~
"
16. Lukac, Do L., L8Integration Economique? Solution de la Crise de 1'Europe?
Geneva, Libr. Droz, 1953.
17* Marjolin^ Robert, Europe and the United States in the World Economy.
Durham, Duke University Press, 1953.
18. Meade, J. E., Problems of Economic Union. Chicago, University of Chicago
Press, 1953.
19. Ivferrdal, Gunnar, International Solidarity or Disintegration? Present
Trends of International Economic Relations in the Non-Soviet World,
New York, Harper, ftentative]1955.
20. Netherlands,The - Ministry of Foreign Affairs, Road to Recovery: The
Marshall Plan, Its Importance for the Netherlands and European
Cooperation, The Hague, 1954
21. Northrop, P, S. C , European Union and United States Foreign Policy.
New York, Macmillan, 1954.
22. O.E.E.C., European Economic Cooperation TTth Annual Report}. Paris, May,
1955.
23. Perroux, Francois, Europe sans Rivages. Paris, Presses Universitaires
de France, 1954.
24. Philip., Andre, Le Commerce International et 1'Unification de 1 'Europe.
The Saar, University of the Saar, 1953.
25. Philip, Olivier, Le Probleme de 1'Union Europ^enne. Neuchatel, Eds. de
la Baconniere, 1950-
Piettre, Andre, L8Economie Allemande Contemporaine, ' 1945-52. Paris,
Eds. M. Th. Genin, 1952.
^
v
27. Racine, Raymond, Vers line Europe nouvelle par le plan Schuman* Neuchatel,
Baconniere, 1954.
28. Sarda, J., Uniones Aduaneras y Uniones Economicas. Madrid, Aguilar,
1954.
29. Tinbergen, Jan, International Economic Integration. London, Cleaver-Hume
Press, 1954.
30. Viner, Jacob, The Customs Union Issue. New York, Carnegie Endowment
for International Peace, 1950°
26.
Articles:
1. Allais, M e , "La liberalisation des echanges commerciaux en Europe,"
Economia Internazionale, VI, Feb0"March, 1953 > PP° 5~37.
>
2. Armengaud, Andre,11 LlIntegration economicme europeenne et la Communaute
du charbon et l'acier," Politique Etrangere, XVIII, NovQ, 1953,
pp. 345-66.
3. Aron, Raymond, "Problems of European Integration," Lloyds Bank Review,
f April, 1953, PP. 1-17.
4. Bye, Maurice, "Customs Unions and National Interests," International
Economic Papers, No. 3, 1954*
5. Cleveland, H. Van B. and Spiro, H. J., "Federal Powers over Currency,
Banking, Credit and Foreign Exchange," in Studies in Federalism,
ed. by C. J. Friedrieh and R9 R... Bowie, Boston, Little, Brown, 1954.
6. Coppola D'Anna, F„, "The Economic Integration of Western Europe,"
Banca Nazionale del Lavoro, Quarterly Review, April-June, 1950.
7. Dennison, S. R., "The European Coal and Steel Community," Lloyds Bank
Review, July, 1955, pp. 1-17/
80 De Voghel, Franz, "Le probleme des finances de 1'Europe integree,"
Economia Internazionale, VI, Feb.-March, 1953/ pp. 228-34.
9. Driscoll, J., "Association with Schumania" (U.K.), Journal of Industrial
Economics, III, April, 1955, PP- 79-110.
10o
_ _ "Early Days in Schujnania,"1 Journal of Industrial Economics,
II, April, 1954, pp. 89-H7.
11. Ehrmann, H. w ., "The French Trade Associations and the Ratification of
the Schuman Plan," World Politics, VI, July, 1954.
12. Emminger, 0., "Deutschlands Stellun^ In der Weltwirtschaft" pCieler
Vortage No. 4 ]. Kiel, Institut fur Weltwirtschaft, 1953.
13. Eyck, F. G., "Benelux in Balance," Political Science Quarterly, LXIX,
March, 1954, pp. 65-91.
14. Giersch, Herbert, "Economic Union between Nations and the Location of
Industries, "Review of Economic Studies, XVll(2), No. 43, 1950.
15* Goormaghtigh, John!? "European Integration," International Concilation,
Feb., 1953.
16. Gehrels, F. and Johnston, B. F., "The Economic Gains of European
Integration," Journal of Political Economy, LXI1I, Aug., 1955, PP* 275.
17. Harrod, R# F., "European Economic Cooperation: A. British Viewpoint,"
Public Finance, V, No. 4, 1950,,pp. 538-46.
18. Hartog, F., "European Economic Integration: A Realistic Conception,"
Weltwirtschaftliches Archiv, Vol. 71, June, 1953, PP- 165-79.
19. Holcombe, A,, "An American View of Economic Union," American Political
Science Review XLVII, June, 1953, pp. 417-30.
41
20.
21.
22«
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
00
34.
3536.
37.
38.
39.
40.
41.
42.
Jenks, Wilfred, "World Organization and European Integration," European
Yearbook, Vol. I. The Hague, Martinus Nijhoff, 1955.
Keesing, F. A. G e , "Benelux," Amsterdamsche Bank, Quarterly Review,
No0 92, 1951, PP. 1-18.
Klaasse, C. A., "Monetary System and Monetary Policy in a Federated
Europe," Economia Internazionale, VI, Feb.-March, 1953, pp. 165-79.
Layton, Lord, "Little Europe and Britain/1 International Affairs, vol,
29, July, 1953, PP. 292-301.
Makower, H. and Morton, G., "A Contribution Towards a Theory of Customs
Unions," Economic Journal, LXIII, March, 1953, pp. 33-49.
Mahr, A., "International Economic Integration and Prosperity," Economia
Internazionale, VIII, Feb., 1955.
McKesson, J. A., "The Schuman Plan," Political Science Quarterly, March, 1952*
Mendershausen, Horst, "First Tests of" the Schuman Plan," Review of
Economics & Statistics, XXV, Nov0, 1953, PP. 269-880
Merigot, J., ""Fiscal Problems of the European Community of Coal and
Steel," Revue de Science et de Legislation Financier's, III,
July-Sept., 1955.
Jfyrdal, Gunnar, "Toward a More Closely Integrated Free-World Economy,"
in National Policy for Economic Welfare at Home and Abroad, ed. by
R. Lekachmtou (Garden City, Doubleday Doran, 1955), chap. 6.
Papi, G. U., "Monetary System and Policy of a Federated Europe,"
Economia Internazionale, VI, Feb.-March, 1953, pp. 191-201.
Progress ^Unilever Magazine}, "Problems of a European Economic Union,"
Summer, 1954. Articles by H, J. Abs and Dirk U. Stikker.
Schmitz, W., "Die Wirtschaftliche Integration Europas: Stand und
Moglichkeiten im Spiegel des Wiener Kongresses der Internalen
Handelskammer." Vienna, Verlag fur Geschichte und Politik, 1953,
Shuman, H.°E., "Stalemate .in European Union," Current Economic Comment,
XVI, May, 1954, pp. 27-36.
Smithies, A., ^European Unification and the Dollar Problem," Quarterly
Journal of Economics, LXIV, May, 1950, pp. 159-82; comment by
G. Haberler, ibid., pp. 306-10, and by T. Balogh, ibid., LXV,
Feb., 1951.
Stikker, D. U. "The Functional Approach to} Economic Integration," Foreign
Affairs, XXIX, April, 1951.
Thorp, Willard, "Europe1s Progress toward Economic Integration," Foreign
Affairs, XXXIII, Jan., 1955, PP. 282-97.
Townsley, W. A., "The British Attitude to European Union," Australian
Quarterly, D e c , .1952,
Trempont, J., "Problems of Public Finance in a Common Market," Revue de
Science et de Legislation Financieres, Jan.-March, 1955Triffin, Robert, "Systeme et Politique Monetaires de 1'Europe Feder^e,"
Economia Internazionale, VI, Feb.-March, 1953, pp. 207-12,
Tykens, Paul, "Towards a European Economy," Journal of Industrial jfconomics,
I, April, 1953.
Uri, Pierre, "The Schuman Plan and Certain Problems of International
Economics,"UEESCO International Social Science Bulletin, III,
pp. 22-28.
Vaglio, M., "The European Coal and Steel Pool and Italian Economy,"
Review of Economic Conditions in Italy [Banco di RomaJ, VIII,
March, 1954.
42
43c
Valentine, Alan, "Benelux: Pilot Plant of Economic Union," Yale Review,
XLIV, Autumn, 1954, pp. 23-32.
~
Van den Brink, J. R. M., "Benelux," Amsterdamsche Bank, Quarterly Review,
No. 100, 1953, PP. 40-59.
Verdoorn, P. J., "A Customs Union for Western Europe: Advantages and
Feasibility," World Politics, VI, July, 1954, pp. 482-500.
Vernon, Raymond, "The Schuman Plan," American Journal of International
Law, Vol. 47, April, 1952, pp. 183-202.
Wemelsfelder, Jozias, "Some Problems Connected with the Establishment
of a Common Market in Schuman Europe," Economia Internazionale,
VII, Aug., 1954, pp. 540-63.
Westrate, C , "The Economic and Political Implications of a Customs
Union," Quarterly Journal of Economics, LXII, May, 1948.
Widell, C. Co, "Some Reflections on a Common Scandinavian Market,"
Skandinaviska Banken, Quarterly Review, April, 1955, PP. 35-41.
Wittkowski, Adolf £Ed 0 ], Schrifttun zum Marshall Blan und zur wirtschaftlichen
Integration Europas. Bad Godesberg, Bundesministerium fur den
Marshall plan, 1953. Bibliography on all aspects of European
economic integration.
Zawadski, K., "The Economics of the Schuman Plan," Oxford Economic
Papers, V, June, 1953.
, "Britain and the Schuman Plan," Kyklos, V, No. 3, 1952,
PPo 237-50.
44.
45o
46o
47.
48.
49.
50.
* 51.
52.
VII.
CONTEMPORARY PROBLEMS IN ECONOMIC AID AND FOREIGN TRADE
1
A.
•
"
•
• ' "
•"
" " - •
••
' " ' " • ' " "
"•••'
"
• '
r
'
'•
•
L
"
'•
•
•
• ' '
G.A.T.T. and Current International Trade Issues
Official Documents:
1. GATT, Basic Instruments and Selected Documents. Geneva, April, 19552.
International Trade, 1954 ^Annual Report]. Geneva, June, 1955.
3. U.K., Board of Trade, Review of the General Agreement on Tariffs and
Traded Cmd. 9414^. London, HMS0, 19554. U.S. Department of State, The General Agreement on Tariffs and Trade.
Washington, D.C., April, 1955.
Books:
*
1. Fletcher School of Law and Diplomacy, GATT, A# Analysis and Appraisal
of the General Agreement pn Tariffs and Trade, New York,
International Chamber of Commerce, 1955°
2. Perry, J. Harvey, Taxes9 Tariffs and Subsidies. Toronto, University of
Toronto Press, 1955> 2 vols.
3. Robhins, L. C , The Economist in the Twentieth Century. London,
Macmillan, 1954.
43
Articles:
1.
2.
3.
4.
5«
6.
7.
8.
*
9.
10.
Coppola d'Anna, F a , "Revlsionary Trends and Apprehensions Regarding
GATT'S Future," [Banco di RomaJ Review of Economic Conditions in
Italy, Vii, Nov., 1953.
Diebold, William, "The End of I.T.0o," Essays in International Finance
No. 16. Princeton, Princeton University Press, 1952*
Gorter, Wytze, "GATT after Six Years," International Orgairziation, VIII,
Feb., 1954, pp. 1-18.
Hexner, Ervin, "The General Agreement on Tariffs and Trade and the
Monetary Fund," IMF—Staff Papers, I, April, 1951.
Hoffman, M. L., "The Future of GATT," Lloyds Bank Review, Oct,, 1954.
pp. 1-13.
Howe, D. C , "L'avenir du Gatt," Economia Internazionale, Sept.-Oct.,
1953, PP. 1-12.
Meade, J. E., "Bretton Woods, GATT, and the Balance of Payments,n
Three Banks Review, D e c , 1952, pp. 3-22.
Perry, J.H., "Canada and GATT," Canadian Tax Journal, II, Sept.-Oct.,
1954, pp. 272-9.
Vernon, Raymond, "America's Foreign Trade Policy and the GATT," Essays
in International Finance, No. 21. Princeton, Princeton University
Press, Oct., 1954.
Webb, Leicester, "The Future of International Trade," World Politics,
V, July, 1953, PP. "423-41.
Note:
B.
GATT bibliography, 1947-53. Geneva, March, 1954. 40 pp.
U.S. Foreign Economic Policy Since World War II
1. General Surveys:
Military and Economic Aid Program
Official Documents
1. Hoover, Herbert, and others, Task Force Report on Overseas Operations.
Washington, D.C., June, 1955*
2. U.S. Commission on Foreign Economic Policy, Report to the President
and the Congress [Randall Report]. Washington, D. C , Jan., 1954o
3.
Staff Papers. Washington, D.C., Feb., 1954.
Books:
1. Brookings Institution Staff, Major Problems of U.S. Foreign Policy
C Annual since 1947^•Washington, D.C., Brookings Institution, 1955* 2. Brown, W.A., Jr., and Opie, Redvers, American Foreign Assistance.
Washington, Brookings, 1953.
3* Elliott, W. Y., and others, The Political Economy of American Foreign
Policy. New York, Holt, 1955.
4. Ellis, H.S. £Ed.], The Economics of Freedom. New York, Harper, 1950,
Parts I and IV.
5. Harris, S. E. [Ed.J, Foreign Economic Policy for the United States.
Cambridge, Harvard University Press, 1948.
6. Krause, Walter, The International Economy. Boston, Houghton Mifflin, 1955-
44
7.
Mikesell, R. F M United States Economic Policy and International
Relations. New York, McGraw-Hill, 1951* chaps, 15- IF.
8. Patterson, Gardner, and Associates3 Siirvey of United States International
Finance ["Annual, 1949-53U* Princeton, Princeton University Press,
5th and final vol., 1954.
* 9- Price, Harry Bayard, The Marshall Plan and Its Meaning. Ithaca,
Cornell University Press, 1955*
10. Thorp, Willard, Trade, Aid, or What? Baltimore, Johns Hopkins Press, 1954.
Articles:
1. Bissell, R0 M., Jr., "Foreign Aid: What Sort? How Much? How Long?
Foreign Affairs, Oct., 1952, pp. 15-38.
2. Gardner, Richard N„, "After Randall-~An American View," The Banker,
March, 1954.
3. Gideonse, H. D., "Economic Foreign Policy of the United States."
Cairo, National Bank of Egypt, 1953°
4. Knorr, Klaus, and Patterson, G., "A Critique of the Randall Commission
Report." Princeton, Princeton University Press, 1954c
5. Malenbaum, W., "Grants and Loans in U.S..Foreign Assistance," World
Politics, VI, April, 1954, pp. 338-54.
2.
U.S. Trade and Tariff Policies
Books:
1. Brown, ¥. A., Jr., The United States and the Restoration of World Trade.
Washington, D.C., Brookings Institution, 1953.
2. Chalmers, Henry, World Trade Pplicies—The changing Panorama, 1920-1953.
Berkeley, University of California Press, 1953.
3-* Coleman, John S., America's Vital Stake in International Trade. Dallas,
Southern Methodist University, 1954.
4. Committee for Economic Development. U.S. Tariff Policy. New York, 1954»
.* . 5- Elliott, G. A., Tariff Procedures and Trade Barriers. A Study in
Indirect Protection in Canada and-the U.S. Toronto, University of
Toronto Press, 1955•
6. Humphrey, Don D*, American Imports. New York, Twentieth Century Fund,
1955.
7« Piquet, H^ S., Aid,; Trade and the Tariff. New York, Crowell, 1953c
8. Randall, C. BBJ> A Foreign Economic Policy for the United States.
Chicago, University of Chicago Press, 1954.
9. Wilcox, Clair, A Charter for World Trade. New York, Macmillan, 1949.
10o Yeager, Leland B., Free Trade: America's Opportunity. New York,
Robert Schalkenbach Foundation, 1954.
Articles:
1. Bidwell, Percy, "The Tariff in Transition," Foreign Affairs, April, 1954.
2. Chapman, J. F., "How Restrictive are U.S. Tariffs and Quotas?" Harvard
Business Reyiew> XXXI, July=Auge, 1953.
3. Bourque, Pe J., "The Domestic Importance of Foreign Trade of the U.S.,
by Producing Regions, Manufacturing Sector, 1947j" Review of
Economics 8c Statistics5 XXXVI, Nov., 1954, pp. 401-80
4. Brandt, Karl, "American Farm Surpluses," Lloyds Bank Review, Oct,,
1954, pp. 29-41.
5. Gorter, Wytze, "U.S, Merchant Marine Policies^ Some International
Implications," Essays in International Finance. Princeton,
Princeton University Press.
60 Hulley, John, "Protect or Compensate?" World Politics, V, April, 1953,
PP. 313-29•
7. Johnson, De Gale, "Agricultural Price Policy and International Trade,tt
Essays in International Finance No. 19. Princeton, Princeton
University Press, June, 1954.
8. Knorr, Klaus, "Market Instability and U.S. Policy," Journal of Political
Economy, LXII, Oct., 1954.
9. Kravis, I.B., "The Trade Agreements Escape Clause,n American Economic
Review, XLIV, June, 1954, pp. 319-38,
10c
"The Growth Criterion as a Guide for Reciprocal Trade Policy,
Quarterly Journal of Economics, LXVI, May, 1952, pp0 273-85.
11. Mclntyre, Francis, "Foreign Investment and Trade Policy in the U.S.,"
American Economic Review, Supplement, XLIV, May, 1954, pp. 624-7«
12. Piquet, H. S., "Would Tariff Suspension Hurt U e S. Business?* Harvard
Business Review, XXXI, Nov.-Dec0, 1953, PP- 95-103.
13. Stein, Herbert, "New Steps in U.S. Trade Policy," Lloyds Bank Review,
Oct., 1953, PPo l-15o
14. Vernon, Raymond, "Trade Policy and National Defense," Foreign Affairs,
Sept., 1955.
15. Wilcox, Clair, "Trade Policy for the Fifties,11 American Economic Review,
Supplement, XLIII, May, 1953.
16• Witt, Lawrence, "international Programs and Agricultural Policy,"
Southern Economic Journal, XXI, Oct., 1954, pp* 166-72.
PART
VIII.
V
COMPARATIVE MONETARY POLICIES
A.
Current Trends in Central Banking -- Some General Discussions
Books:
1. De Kock, M. H., Central Banking, London^ Staples Press, 3d rev,, 1954>
chap.V on "The Recent Revival of Monetary Policy"
2. London, University of, Monetary and Banking Policies; A Comparative
Study of World Trends, London, Institute of Bankers, 1955.
Papers hy W. F. Crick, L. E. Thunholm, and R* Auboin.
Articles:
1. Bopp, Karl R., "The Rediscovery of Monetary Policy--Some Problems of
Application," Business Review. Philadelphia, Federal Reserve
Bank, Aug.,- 1955, PP« 3-12.
2.
"Central Banking Objectives, Guides, and Measures,11 Journal
of Finance, IX, March, 1954, pp. 11-22.
3. Crick, Wo *\p "Old and New Instruments of Monetary Policy," Societe
d!Economie Politique de Belgique, March, 1952, pp. 6-20.
4. De Kock, M. H., "Recent Developments in Central Banking and Monetary
Policy," South African Bankers Journal, March, 1952, pp. l-l6.
5. Delivanis, D. J., "Les "buts de la politique monetaire depuis la
suspension de lfetalon°or," Revue Elconomique, Nov.-Dec*, 1954
6. Jacohsson, Per, "Return to an Active Credit Policy, "Skandinaviska
Banken, Quarterly Review, XXXII,,Oct., 1951- PP. 85~90.
7o Kriz, M. A 8 , "Central Banks and the State Today," American Economip
Review, XXXVIII, Sept., 1948, pp^ 565-8O.
8. Lequeret, P., "Les experiences etrangeres de controle du credit depuis
la seconde guerre mondiale," in Distribution et Controle du Credit.
Paris, Armand Colin, 1951> PP. 39-559. Lutz, Vera, "Old and New Instruments of Credit Control," in Papers and
Proceedings, First International Credit Conference, Rome, Bancaria, 19511Q. National Industrial Conference Board, "Central Banking--Then and Now,"
Business Record, Oct,, 1951°
11. Patel, I. G., "Monetary Policy In Postwar Years," IMF—Staff Papers, III,
!
April, 1953, PPo 69-131. , •
12. Rueff, J., "La regulation monetaire et le prohleme institutionnel de la
monnaie,".Revue i'Economie Politique, Jan.-Febe, 1953•
13., Sproul, Allan, 'The Changing Concept of Central Banking," in Money,
Trade, and Economic Growth, ( New York, Macmillan, 195iT*
•
B.
•
•
5,
Current British Controversy on Monetary Policy,
Books:
1. Brown, A. Ja> The Great Inflation, 1939-50* London,. Oxford University
Press, 1954.
2. Dacey, W. Manning, The British Banking Mechanism* London, Hutchinson!s
1951.
~ ~
~~
3. Henderson, R. F 0 , The New Issue Market and the Finance of Industry.
Cambridge, Bowes 8c Bowes, 195!•
4. Hicks, ULK.; British Public Finances. Their Structure and Development,
1880-1952. London, Oxford University Press, 1954, chap. VI.
* 5- Ilersic, A. R., Government Finance and Fiscal Policy in Post-War Britain.
London, Staples Press, 19556. Institute of Bankers, British Banking Today. London, Europa, 1953*
Re S. Sayers! paper on "Central Banking," pp. 1-14.
7° _ _ _ _ _ _ _ _ Banking and Foreign Trade. London, Europa, 1952.
8. Macrae, Norman, London Capital Market: Its Structure, Strains and
Management. London, Staples Press, 1955•
.9* Meyer, F. V., Inflation and Capital. Cambridge, Bowes & Boses, 195410. Nevin, Edward, The Problem of the National Debt, Cardiff, University
of Wales, 1954*
11. Paish, F0 W., The Post-War Financial Problems London, Macmillan, 1950.
12. Uo S. Treasury Representative, Britain9s Internal Financial Policies
and International Economic Position. London, American Embassy,
Aug., 1953o
13. Wilson To, and Andrews, P,W*S0 fEdsJ , Oxford Studies in the Price
Mechanism. London, Oxford UniversityTress, 1951,chap. I.
14. Worswick, Q0 D. N., and Ady, P. EEds.q, The British Economy, 1945-50»
Oxford, Clarendon Press, 1952, chap, 9 hy C0 M0 Kennedy on
st
Monetary Policy" and Chap0 8 by I0MftD. Little on "Fiscal Policy,?l
Articles?
1.
2a
3o
4,
5,
6,
7*
80
9»
10o
11o
12.
13.
14•
15.
Balfour of Burleigh, Lord, "Controls: Financial vs0 Physical," Lloyds
Bank Review, July, 1952, pp0 1-12e
Balogh, To, "'Freedom' vs * Prosperity,, A Left-Wing Conclusion from the
New Unbalance," The Banker, CIV, April, 1955, PP° 217-220
Banker, The, articles on monetary policy in current issues, especially
those by Wilfred King*
Barclays Bank Review, "Credit Control," XXX, Aug0, 1955.
"Banks and the Bank Rate," XXIX, Feb0, 1954,
Brand, Lord, Ensor, A0 H 0 , and others, "The Government's Monetary Policy,"
Economic Journal, LXII, D e c , 1952, pp0 715-30,
Carter, C<> F», 'The International and Domestic Financial Policy of the
United Kingdom, 1953/ Public Finance, XIII, No. 3, 19530
Crick, W, F„, "British Monetary Policy," in Current Financial Problems
and the City of LoaadJoiau London, Europa, 1949, PP° 166-80-.
Dacey, Wo Manning, "The Effectiveness of Bank Rate," Lloyds Bank Review,
April, 1955, PP* 14-24o
"'Disinflation* to Date," Lloyds Bank Review, 0cto, 1952,
PP* 35-47*
Economist, The, Current issues,
Frost, Raymond, and Nevin, E„, "The 30 Per Cent Liquidity Ratio," Oxford
Institute of Statistics, Bulletin, XV, Jan,, 19539 pp, 25-34.
Harrod, R. F 0 , "The Drive against Inflation," District Bank Review,
March, 1952, pp. l-l60
Henderson, Sir Hubert, "Internal Financial Policy and the Probleme of
External Disequilibrium," Economia Internazionale, III, Nov.,
1950, pp. 952-64.
Hewell, D. I,, "British Public Dept in the Two World Wars," Public
Finance, VIII, No. 2, 1953, pp. 188-205,
^
l8„
19.
20o
21.
22.
23.
24.
25»
26.
2
72
&29.
30,
31 o
320
33.
34o
35»
360
37°
Johnson, IL G-> 9 !fRecent Developments in British Monetary Policy,"
American Economic Review, Supplement, XLIII, May, 195 3 o
_ _ _ _ _ "Clearing Bank Holdings of Public Debt, 1930-50," Bulletin,
London & Cambridge Economic Service, Vol. 29, Nov,,, 1951* PP- 102-9.
"Some Implications of Secular Changes in Bank Assets in Great
Britain," Economic Journal, LXI, Sept., 1951; PP- 544-6l.
__; C* M. Kennedy, and others, "Monetary Policy—A Symposium,"
Oxford Institute of Statistics, Bulletin, XIV, April-May, 1952.
Reprinted in book form. Oxford, Blackwell, 1952o
Kahn,." R, F», "Oxford Studies in the Price Mechanism," Economic Journal,
LXII, March, 1952, pp0 119-30.
King, Wilfred, "Monetary Orthodoxy and Britain's Recovery," in The Post-War
Functioning of Banking- Return to Normal? 'JtYi International Banking
Summer School, Sept., 1*954, Granada Spain* Madrid, Consejo Superior
Bancario, 1955.*
Lanner, James, "British Monetary Policy, 1945-52," Weltwirtschaftliches
Archiv, Vol. 71, No. 1, 1953, PP. 90-109.
n
The Rediscovery of the Bank Rate and the London Money Market,"
Paper presented to Economics Section of British Assn., September, 1952.
Morgan, E. V,, "The National Debt and Monetary Policy," Lloyds Bank Review,
July, 1955, PP* 18-33.
Nevin, Edward, "Some Facts about Tap Treasury Bills," The Banker, Jan.,
1955; PP. 46-50.
Paish, F. W., "Comment on the Ne^ Monetary Policy and the Problem of
Credit Control," Oxford Institute of Statistics, Bulletin, AprilMay, 1952.
_________ "British Financial Policy, 1951-53," London & Cambridge
Economic Service, Bulletin, D e c , 1953*
__________ f,The London New Issues Market," Economica, XVIII, Feb., 1951.
Robertson, D0 Ho, "The Problem of Creeping Inflation, London & Cambridge
Economic Service, Bulletin, Times Review of Industry** No0 13, March,
1955, PPo ii-ivo
_____________ "More Notes on the Rate of Interest," Review of Economic
Studies, XXI(2), No, 55, 1953-54. Reprinted in Utility and All
That0 London, Allen & Unwin, 1952.
________ "What Has Happened to the Rate of Interest?" Three Banks
Review,March, 1949, pp0 15• 31 <,
Roosa, R. V., and others, "Monetary Policy Again1 A Symposium,"
Oxford Institute of Statistics, Bulletin, XIV, Aug., 1952, pp. 253-306.
Rowan, DD Co, "Cheap Money: The English Experiment of 1945-47,"
Banca Nazionale del Lavoro, Quarterly Review, IV, Oct--Dec, 1951*
pp. 213-25.
Sayers, R. So, "Central Banking in the Light of Recent Briitsh and
American Experience," Quarterly Journal of Economics, LXIII,
May, 1949; PP. 198-2H0
"Open Market Operations in English Central Banking,"
Schweizerische Zeitschrift fur Volkswirtschaft und Statistik,
NOo 5; Oct., 1953.
Wadsworth, J0 Eo, "The Commercial Banks," in British Banking Today.
London, The Institute of Bankers, 1953; PP. 15-31"Banking Funds and Government Policy in Britain," in
Bank Liquidity and Control of Inflation, Vol, II. Rome, Bancaria,
1953; PP. 200-15,
49
Recent Orientation of Monetary Policy in Western Europe
Books:
Abs, H. J., Fragen der Zahlungsbilanz, des Geld- und Kapitalmarktes in der Bundesrepublic* Kiel, Institut fiir Weltwirtschaft, 1954.
Bank for International Settlements, Annual Report, Basle, 1955*
Bisson, Andre, LyInflation francaise -- August 1914-March 1952* Paris,
Recueil Sirey, 1953*~
™
"
Bronchart, 0. J., Le controle du credit a court terme. Louvain, Catholic
University of Louvain, 1951Dieterlen, P., Quelques enseignements de lfevolution monetaire francaise
—
3
de 1948 a 1952. Paris, Colin, 1954.
~
~~
!
Flamant, M., Theorie de 1 inflation et politiques anti-inflationnistes.
Paris, Dalloz, 1952.
Grindrod, Muriel, Post-War Italy (provisional title)* London, Royal
Institute of International Affairs, 1955*
International Banking Summer School:
a. The Post^War Functioning of Banking—Return to Normal? Madrid,
Consejo Superior Bancario, 1955, pp. 17-3^* 231-45b. The Recent Evolution of the Role of the Banks in the Economy.
Brussels, Assn. Beige des Banques, 1954.
International Credit Conference (1st), Bank Liquidity and the Control of
Inflation. Vol. II, Pt. I, Country Studies—European. Rome,
Associazione Bancaria Italians,, 1953*
International Monetary Fund, The Revival of Monetary Policy. Washington, 1953Le Bourva, J., LfInflation francaise d*apres guerre, 1945-49* Paris,
Colin, 195~
*
Nilsson, A., Sweden-'a Way to .a Balanced Economy. Stockholm, Swedish
Institute,^ 1951.
Piettre, A., L'Eeonomie allemande contemporaine (Allemagne occidentale),
1945-52. Paris, Eds. M. Th. Genin, 1952.
Spentsas, G. N*, Organisation et contrfole du credit "bancaire en France:
reformes ^conomiques contemporaines. Paris, Sirey, 1953Stucken, R., Deutsche Geld- und Kreditpolitik, 1914 bis 1953* Tilbingen,
Mohr, 1953*
Triffin, Robert, European Postwar Monetary' Policies when available.
Wallich, H. C , The Mainsprings of German Recovery» New Haven, Yale
University Press, 1955*
Articles:
Balogh, T., "Monetary Restrictions and Economic Progress," Oxford Institute
of Statistics, Bulletin, XIV, July, 1952, pp. 245-51Bresciani-Turroni, C., "Monetary Policy and Internal Financial Stability,"
5ianco di Roma, Review of Economic Conditions in Italy, VI, Nov., 1952.
Browaldh, E., "Bank Credit and Economic Policy," Svenska Handelsbanken,
Index, Supplement, Mar., 1955> PP* 1-7Etnmer, R. W*, "West German Monetary Policy, 1948-54," Journal of Political
Economy, LXIII, Feb., 1955L&yton, C. W., "Norway1 p New Economic Policy," The Banker, CV, July, 1955Lutz> F. A., and Lutz, V* C , "Monetary and Foreign Exchange Policy in Italy."
Studies in International Finance 1. Princeton, University Press, 1950.
Patel, I. G-, "Monetary Policy in Postwar Years," IMF—Staff Papers, III,
Apr., 1953. PP* 42-7.
Wallich, H. C , "The TGerman Miracle/" Yale Review, XLIV, Summer, 1955
PART VI
DEVELOPMENTAL ECONOMICS
A.
Theory of Growth with Special Reference to Less Developed Countries
Books:
1. Abramovitz, M. ^Ed,^, Capital Formation and Economic Growth ^Conference
Seriesjo Princeton, Princeton University Press, 1955«
2. Clark, Colin, The Conditions of Economic Progress, London, Macmillan,
2d rev, ed„, 1951.
3. Domar, E. Do, Theories of Economic Growth. New York, Oxford University
Press, 195^
""
4. Dupriez, L. H., and Hague, D„ Co fEds.l, Economic Progress. Louvain,
Institut de Recherches Economiques et Sociales, 1955*
5. Frankel, S. H., The Economic Impact on Underdeveloped Societies—Essays
on International Investment and Social Change«, Oxford, Blackwell, 1953•
6. Haavelmo, T„, Contribution to the Theory of Economic Evolution with
Particular Reference to the Problem of Backward Areas0 Oslo,
Universitets Socialokonomiske Institutt, 1952.
7. Holzman, F, D,, Capital Formation and Economic Development0 Berkeley,
University of California Press, (tentative) 19558o Lewis, Wo A t , The Theory of Economic Growth. London, Allen & Unwin, 1954.
9. Nurkse, Ragnar, Problems of Capital Formation in Underdeveloped Countries.
Oxford, Blackwell, 195310. Prebisch, Raul, Theoretical and Practical Problems of Economic Growtho
UNESCO, May, 1950•
11o Universities-National Bureau Committee on,Economic Research, Problems in
the Study of Economic Growtho New York, National Bureau of Economic
Research, 1949. Papers by So Kuznets and J. Mo Clarko
12o Viner, Jacob, International Trade and Economic Development. Glencoe,
The Free Press, 1952,
Articles:
1. Baldwin, R0 E., "Some Theoretical Aspects of Economic Development,"
Journal of Economic History, XIV, No0/ 4, 1954, pp„ 333-45.
2 0 Benham, F. C , "Reflexiones sobre los paises insuficientement desarrollados," El Trimestre Econdmico, Jan3-Maro; 1952.
3o Bensusan-Butt, D. ty., "Some Elementary Theory About Accumulation,"
Oxford Economic Papers, VI, Septo, 1954, pp. 306-27.
4. Bruton, Henry J0, "Growth Models and Underdeveloped Economies," Journal
of Political Economy, LXIII, Augo, 1955; PP. 322-36.
5. Duesenberry, J. So, "Some Aspects of the Theory of Economic Development,"
Explorations in Entrepreneurial History, III, No. 2, 1950.
6. Eckaus, R. So, "The Factor Proportions Problem in Underdeveloped Areas,"
American Economic Review, XLV, Sept., 1955; PP. 539-65.
7. Fleming, J, M., "External Economies and the Doctrine of Balanced Growth,"
Economic Journal, LXV, June, 1955; PP« 241-56.
8. Frankel, S, H«, "Some Conceptual Aspects of International Economic Development of Underdeveloped Territories," Essays in International Finance.
Princeton, Princeton University Press, May, 1952.
9. Furtado, Celso, "Capital Formation and Economic Development," International
Economic Papers, Vl(4), 1954, pp. 124-44.
51
10.
11.
12o
13.
14a
15.
16.
17.
18.
19.
20.
21o
22.
23.
24o
25.
26.
27.
28.
Gill, Ko S 0> "Keynesian Economics and Under-developed Countries,"
Indian Economic Journal, II, 0cto, 1954.
Huggins, Ho D., "Some Investment, Depreciation, Savings and Capital
Productivity Relationships in Economic Growth," Social & Economic
Studies, IV, Mar., 1955o
Hunter, J. M„, "The Development of Low Income Countries," in Papers of
the Michigan Academy of Science, Arts and Letters, ed0 by E. So
McCartney and F. H. Sparrow. Ann Arbor, University of Michigan Press, 1952*
Irlternational Economic Papers, "Capital Formation in Underdeveloped Countries,"
Noo 4, 1955.
Johnson, H. Go, "Economic Expansion and International Trade," The Manchester
School, XXIII, May, 1955, pp. 95-112.
"Equilibrium Growth in an International Economy," Canadian
Journal of Economics & Political Science, XIX, Nov., 1953, pp. 478-500.
and Associates, "Growth and the Balance of Payments: A Symposium," Oxford Institute of Statistics, Bulletin, XVII, Feb., 1955.
Kurihara, K. K., "Growth Analysis and the Problem of Capital Accumulation in
Underdeveloped Countries," Metroeconomica, V, No. 3; D e c , 1954.
Kuznets, Simon, "Toward a Theory of Economic Growth," in National Policy
for Economic Welfare at Home and Abroad, ed0 by R, Lekachman. Garden
City, Doubleday, Doran, 1955*
"Economic Growth and Income Inequality," American Economic
Review, XLV- Mar., 1955.
McKinley, Erskine, "The Problem of 'Underdevelopment * in the English
Classical School," Quarterly Journal of Economics, LXIX, May, 1955,
Myiht, Hla, "An Interpretation of Economic Backwardness," Oxford Economic
Papers, VI, June, 1954, pp. 132-63.
Nurkse, Ragnar, "Some International Aspects of the Problem of Economic
Development," American Economic Review,Supplement, XLIII, May, 1952,
pp. 571-83.
Rao, Vo Ko R. V., "Deficit Financing, Capital Formation and Price Behaviour
in an Underdeveloped Economy," Indian Economic Review, II, Feb., 1953>
PP° 55-91; comment by B. Ko Madan, and reply, ibid., Aug., 1953, PP. 105-10,
"Investment, Income and the Multiplier in an Under-developed
Economy," Indian Economic Review, I, Feb., 1952, pp. 55-^7°
Rosenstein-Rodan, P0 N., "Les besoins de capitaux dans les pays sousdeveloppes," Jjfconomie Appliqude, Jan.-June, 1954.
Singer, H. W., "Obstacles to Economic Development," Social Research, XX,
Spring, 1953, PP. 19-31.
"The Mechanics of Economic Development," Indian Economic Review,
I, Ail®,, 1952, ppQ 1-18.
Wallich, H. C , "Some Notes towards a Theory of Derived Development."
Conference of Central Bank Technicians, Havana, 1952.
B. Financial Aspects of Economic Development
!•
Investment Problems in Lending and Borrowing Countries
Books:
1. Buchanan, N. S., International Investment and Domestic Welfare. New
York, Holt, 1946.
2.
and Ellis, H. S., Approaches to Economic Development. New
York. Twentieth Century Fund, 1955.
3.
and Lutz, F. A., Rebuilding the World Economy. New York,
Twentieth Century Fund, 1947.
52
4. Cole, Go D. Ho, Money, Trade and Investment. London, Cassel, 1954.
5. Heller, Wo W., and othersfEds.J , Savings in the Modern Economy.
Minneapolis, University of Minnesota Press, 1953»
60 Krishna, Vo S., International Economic Cooperationa Madras, University
of Madras, 1952, chap0 5*
7. Nurkse, Ragnar, Some Aspects of Capital Accumulation in Underdeveloped
Countries, Cairo, National Bank of Egypt, 1953*
80 United Nations, Domestic Financing of Economic Development, New York, 19509o
Methods of Financing Economic Development in Underdeveloped
Countries, 1949.
10. Veen, Go van der, Aiding Underdeveloped Countries through International
Cooperation. Delft, Waltman, 1954°
11. Wolf, Charles, Jr„, and Sufrin, So C , Capital Formation and Foreign
Investment in Underdeveloped Areas0 Syracuse, Syracuse University
Press, 1955.
Articles:
1. Ameye, L0 Co, "The Financing of Capital Development/1 in Monetary and
Banking Policies: A Comparative Survey0 London, Staples, 1955*
2. Brand, Lord, "A Banker's Reflections on Some Current Economic Trends,"
Economic Journal, LXIII, Dec0, 1953; PP° 761-7°
3o Dieterlen, Po, "Limites de 1ginvestissement global et potential df
investissement," Revue Economique, VI, May, 1955; PP- 448-76.
4. Finch, David, "Investment Service in Underdeveloped Countries," IMF-Staff Papers, II, Septo, 1951.
5. Higgins, Bo EL, "Financing Development of Underdeveloped Areas."
Cambridge, M,I0To Center for International Studies, Mar*, 19556. __
and Malenbaum, M., "Financing Economic Development,"
New York, Columbia University Press, 19557o Hill, Martin, "Problemes gdheraux des investissements dan les pays
sous-developpes, Les Cahiers iifconomiques, Feb.-Mar., 1953°
80 Hunter, J. Mo, "Long Term Foreign Investment and Underdeveloped Countries, "J Jou£nal_^
LXI, Feb,, 1953, pp. 15-24.
9o Kalecki, M., "The Problem of Financing Economic Development," Indian
Economic Review, II, Feb», 1955, PP° 1-22.
10. Kuznets7"S., "Les differences Internationales dan la formation de
capital et son financement," Economie Appliquee, Apr.-Sept,, 195311. Leduc, Gaston, "Le sous-developpement et ses problemes, Revue d?
Economie Politique, Mar.-April, 1952o
12. Oudiette, J., "The New Processes for the Finance of Foreign Investments
and the Problem of Cooperation between Private Banks and International Organizations," in The Post-War Functioning of Banking,
Return to Normal? Madrid, Consejo Superior Bancario, 1955°
13. Rosenstein-Rodan, P. No, "Les besoins de capitaux dans les pays sousdeveloppes," Economie Appliquee, VII, Jan.-June, 1954, pp. 77-87•
14o Triantis, S., "Financing Under-Developed Countries/5 Canadian Journal
of Economics 8c Political Science, XVII, May, 1951*
15. Wu, Yuan-Li, "International Capital Investment and the Development of
Poor Countries," Economic Journal, LVI, Mar., 1946, pp. 86-101.
Private Capital vs. Government Loans for World Development
-^
Books o
Gaston, J, F.,Obstacles to Direct Foreign Investment, New York,
New York, National Industrial Conference Board, Apr., 1951United Nations, Bureau of Economic Affairs, Recent Governmental
Measures Affecting the International Flow of Private Capital,
1946-52. New York, 1954. ~
~
Articles^
Aubrey, H. G., "The Role of the State in Economic Development,"
American Economic Review, Supplement, XLI, May, 1951* PP° 266=73•
Bhatia, R. S., "Conditions Which Facilitate Private Investment,"
Indian Journal of Economics, XXXV, July, 1954.
Bradley, P. D., "International Business Investment, Governmental and
Private," Journal of Finance, IX, May, 1952, pp. 359-70.
Conick, M., "Stimulating Private Investment Abroad," Harvard Business
Review, July, 1950, pp. 41-51.
Dernberg, H„ J,, "Prospects for Long-Term Foreign Investment," Harvard Business Review, July, 195°, pp<> 41-51 °
Gamba, C«, "The Role of the State in Underdeveloped Areas," Economic
Record, XXIX, Nov*, 1953, pp. 345-56.
Hartland, P 0 , "Private Enterprise and International. Capital," Canadian
Journal of Economics & Political Science, XIX, Feb., 1953Littell, No Mo, and others, "International Investment of Private
Capital: Opportunities and Problems," Virginia Law Review, D e c , 1954.
Madan, B. K., "Forms of Foreign Investment," in Economic Problems of
Under-developed Countries in Asia. Bombay, Oxford Univ. Press, 1953•
Maffry, August, "Program for Increasing Private Investment in Foreign
Countries." A Report prepared for TCA, State Dept., New York,
Irving Trust Co 0 , Dec0 18, 19520
"Direct vs. Portfolio Investment in the Balance of Payments,"
American Economic Review, Supplement, XLIV, May, 1954, pp« 614-23.
Mears, L. A., "Private Foreign Investment and Economic Development:
Venezuela, Saudi Arabia, and Puerto Rico," Inter-American
Economic Affairs, VII, Summer, 1953P. E. P., "Private Capital for Underdeveloped Areas," Planning XX, May, 1954.
Reeves, W. H., and Dickens, P. D., "Private Foreign Investment: A Means
of World Development," Political Science Quarterly, XLIV, June,
1949, PP» 217-44.
Stassen, Harold, "The Case for Private Investment Abroad," Foreign
Affairs, v. 32, Apr*, 1954, pp. 402-15Triantis, S., "Obstacles to Canadian Investment Overseas," Canadian
Journal of Economics & Political Science, XVII, Feb., 1952.
Weiner, M. L*, and Dalla-Chiesa, R., "International Movements of Public
Long-Term Capital and Grants, 1946-50," IMF--Staff Papers, IV,
Sept., 1954, ppo 113-78.
Wu, Yuan-Li, "Government Guarantees and Private Foreign Investment,"
American Economic Review, XL, Mar0, 1950, pp. 6l~73»
54
Taxation and Foreign Investment
Books:
Giroday, Ja Bo de la, Canadian Taxation and Foreign Investment.
Toronto, Canadian Tax Foundation, 1955 •
Ohl, J. P,, and others, "Taxation and Foreign Investment," Proceedings
of 46th Annual Conference, Sacramento, National Tax Assn0, 1954*
Stanford Research Institute, U. So Tax Incentive for Private Foreign
Investment.
Stanford University, 1954.
Article:
Brown, Wa A„, Jr 0 , "Treaty Guaranty and Tax Inducements for Foreign
Investment," American Economic Review, Supplement, XL, May, 1950«
International Finance Corporation; Development Banks or Corporations
Official Documents:
I. Bo Ro Do, The Proposed International Finance Corporation, Washington, May, 1955.
Articles of Agreement of the International Finance Corporation
and Explanatory Memorandum0 Washington, Apr. 11, 1955.
Uo S. House of Representatives, Banking and Currency Committee, International Finance Corporation. Hearings ... on S0 1894, June 6-7,
1955o Washington, GPO, 1955.
Uo S. 0Senate, Banking and Currency Committee, International Finance
Corporation0 Hearings . 0 . on So 1894, July 11-14, 1955«
Washington, GPO, 1955°
Books:
Basu, So K., Industrial Finance in Indian A Study in Investment Banking
and State Aid to Industry with Special Reference to India. Calcutta,
Calcutta University Press, 3& ed0, 1953•
________
Financing of Post-War Industry—A Study in Institutional
Developments of Industrial Finance0 Calcutta, Book Exchange, 1948,
Fetter, F, W., and others, Development Corporations and Related Institutions in Selected Countries0 Washington, IBRD, 1951Articleso
Abdullah, Ahmed, Pakistan Industrial Development Corporation. Karachi,
Karachi, Dept. of Publications, 1955Cowen, H. C , "Should Finance Corporations Handle Colonial Development?" The Banker, Oct., 1950, pp0 223-7
Fergusson, Do A., "The Industrial Development Bank of Canadia,"
Journal of Business, 0cto, 19480
Lee, Gordon, "The Commonwealth Finance Company- A First Appraisal,"
The Banker, -v. 103, Aug., 1954, pp0 98-102.
P. E. Po, "Colonial Development. The Future of the CoD.C," Planning,
July 7, 1952, pPo 1-20o
Reserve Bank of India, "Shroff Committee Report on Finance for the
Private Sector." Bombay, 1954 o
55
7.
Spencer, D 0 L 0 , "Financing Commonwealth Development by Private Means,"
Current Economic Comment, XVII, Augo, 1955, pp. 2l8-330
8. Tew, Brian, "The I.C.F.C. Revisited," Economica, XXII, Augo, 1955, PPo 2l8~330
9. Wallis, Po Fe D e , "The National Finance Corporation," South African
Journal of Economics, XXI, D e c , 1953.
Monetary-Fiscal Measures and Internal Stability
Books:
International Institute of Public Finance, Les aspects financiers, fiscaux
et budgetaires du developpement des pays sous-developp^So The Hague,
Van Stockum, 1951.
Khatkhate, D. R., Problems of Monetary Policy in a Developing Economy0
Bombay, Bombay University Press, 1954o
Melady, T. Po, Taxation as a Factor in the Development of the Underdeveloped
Countries. Washington, Catholic University, 1955°
Prest, A. R., War Economics of Primary-Producing Countries. Cambridge,
Cambridge University Press, 19480
""
Rao, V. K, R0 Vo, Deficit Financing, Capital Formation and Price Behaviour
in an Under-Developed Economy (Eastern Economist Pamphlet)0 New
Delhi, 1954o
Sen, S. No, Central Banking in Undeveloped Money Markets0 Calcutta, Bookland, Ltd., 1952.
Singh, Baljit, Federal Finance and Underdeveloped Economy. Bombay, Hind
Kitabs, 1952o
United Nations, Technical Assistance Administration, Taxes and Fiscal Policy
in Underdeveloped Countries. New York, 1955°
Wald, Ho Po, and Froomkin, Jo N0 Eds0 , Papers and Proceedings of the Conference on Agricultural Taxation and Economic Developmenta Cambridge,
Harvard Law School, 1954.
Articles^
Adler, Jc H., "The Fiscal and Monetary Implementation of Development Programs," American Economic Review, Supplement, XLII, May, 1952, pp0 584-600.
Axilrod, So Ho, "Inflation and the Development of Under-Developed A£reas,"
Review of Economics & Statistics, XXXVI, Aug0, 1954, pp= 334-8,
Alter, Go Mo, "Desarrollo Economico sin Inflacion?" El Trimestre Economico,
XVII, 1950, ppo 214-32o
Bernstein, E 0 M 0 , and Patel, L Go, "Inflation in Relation to Economic
Development," IMF--Staff Papers, II, Nov0, 1952, pp0 363-980
Das Gupta, A, K 0 , and others, "Inflation and Mobilization of Domestic Capital/'
Economic Bulletin for Asia and the Far East, Feb 0 , 1952, ppc 21-39*
Ellis, Ho So, "Monetary Policy as an Instrument of Progress," in Economic
Progress, edo by Lo Ho Dupriez and D. Co Hague0 Louvain, 1955, PP° 419=34=
Grove, D, Lo, "Objectives and Potentialities of Monetary Policy in Underdeveloped Countries. " Washington, B/G of Federal Reserve System, 19520
Hicks, Uo Ko, "The Search for Revenue in Under-Developed Countries," Revue
de Science et de Legislation Financieres, Jano-Mar0, 1952„
Jayardena, N. U., "The Problem of Liquidity in an Undeveloped Economy,"
Ceylon Economist, II, 2d Quarter, 1952, PPo 93-101o
Ojha, D, De, "Taxable Capacity in a Developing Economy," Indian Economic
Journal, II, Jan,, 1955°
Patel, I. Go, "Selective Credit Controls in Underdeveloped Economies," IMF—
Staff Papers, IV, Sept., 1954, pp0 73-84,
56
12.
Pathak, Ho W., "Central Banking in Relation to the Problem of Economic
Development/' Indian Economic Journal, I, Apr., 19540
13o Pazos, Felipe, "Economic Development and Financial Stability," IMF-Staff Papers, III, Qct0, 1953, pp0 228-53.
14. Raj, Ko N., "Definitions and Measurement of Deficit Financing,"
Indian Economic Review, II, AugQ, 19540
* 15. Triffin, Robert, "Central Banking and Monetary Management in Latin
America," in Economic Problems of Latin America, edG by So E 0
Harriso New York, McGraw-Hill, 19440
* 16. Wallich, Ho Co, "Underdeveloped Countries and the Monetary Mechanism,"
in Money, Trade, and Economic Growth. New York, Macmillan, 1951o
Be
Studies in Central Banking in British Commonwealth Countries
Books -
Basu, So K., Recent Banking Developments % Lessons of the Depression
and the War. Calcutta, Book Exchange, 3d reVo edo, 1951.
2 0 Beckhart, Bo Ho [EdJ , Banking Systemsa New York, Columbia University
Press, 1954.
3- Brecher, Irving, Monetary and Fiscal Thought and Policy in Canada,
1919-39* Toronto, University of Toronto Press, spring 1956.
4. Butlin, So Jo, War Economy, 1939-420 Canberra, Australian War Memorial, 1955o
5« Copland, Do B.; Inflation and Expansions Essays on the Australian Economy0
Melbourne, Cheshire, 1951°
6. de Kock, Gerhard, A History of the South African Reserve Bank, 1920-^20
Pretoria, Van Schaik, 1954.
7. Deskmukh, Co Do, Central Banking in Indian A Retrospect0 Poona,
Gokhale Institute of Politics and Economics, 19480
* 8. Giblin, L. F o ; The Growth of a Central Bank--The Development of the
Commonwealth Bank of Australia, 1924-45° Melbourne, Melbourne
University Press, 1951*
9o Jamieson^ Ae B», Chartered Banking in Canada. Toronto, Ryerson Press, 1953°
10. Jung, No M, N., and Iyengar, So K., The A 0 B 0 C 0 of Central Banking with
Special Reference to India and Bangalore» Bangalore, Printing &
Publishing Co., 1950o
11. Malhotra, Do K»^ History and Problems of the Indian Currency, 1935-49°
Simla, Minera, 5th rev0 ed., 1949"
12. Mitra, R, Mo, Problems of Money Supply and Credit Control in the Indian
Banking System0 Calcutta, Capital, 195313. Muranjan, So K*, Modern Banking in India. Bombay, Kamala Pub0 House,
3d reVo edo, 19520
* 14. Neufeld, Eo F», Bank of Canada Operations, 1935-52° Toronto, University
of Toronto Press, 1955* 15* Newlyn, W. T., and Rowan, Do Co, Money and Banking in British Colonial
Africa, A Study of the Monetary and Banking Systems of Eight British
African Territories. Oxford, Clarendon Press, 19540
16. Parekh, H. T«, The Bombay Money Market0 London, Oxford University
Press, 1953* 17.. Plumptre, A. F. Wo, Central Banking in the British Dominions. Toronto,
University of Toronto Press, 19400
* l8o Raj, Ko No, The Monetary Policy of the Reserve Bank of Indian A Study of
Central Banking in an Underdeveloped Economy. Bombay, 1948.
lo
Reserve Bank of New Zealand, The Monetary and Banking System of New
Zealand. Prepared for Royal Commission on Monetary, Bank and
Credit System. Wellington, 1955Roy, N. K., Indian Currency and Finance. Calcutta, Chatterjee, 1953°
Sayers, R. S. Ed. , Banking in^the British Commonwealth. Oxford,
Clarendon Press, 1952.
Articles:
Arndt, H. W., "The Post-War Australian Bond Market," Economic Record,
XXX, Nov., 1954, pp. 263-T1and Shrapnel, P. S., "Consumer Credit in Australia, 1945-51/f
Economic Record, XXIX, May, 1953, pp. 35-50.
Basu, S. K., "Interest Rate Policy of the Government of India," Indian
Journal of Commerce, IV, Mar., 1951Copland, D. B., "Economic Expansion and Economic Control in Australia,"
India Quarterly, July-Sept., 1954*
Croteau, J. T., "Co-operative Central Banking in Canada," Canadian
Journal of Economic & Political Science, XVII, Nov., 1951*
de Kock, G., "The Ratio of National Income to Money Supply in South
Africa, 1917-54. Pretoria, South African Reserve Bank, 1955 •
"Post-War Monetary Policy in South Africa," Union of South
Africa Finance & Trade Review, I, Jan0, 1955•
Exter, John, "Report on the Establishment of a Central Ba^nk for Ceylon,"
Sessional Papers, XIV-1949- Basle, B. I. So, 1950.
Greaves, Ida, "Colonial Monetary Conditions." London, H.M.S.O., 1953Hazlewood, A., "Economics of Colonial Monetary Arrangements," Social &
Economic Studies, III, D e c , 1954.
Hirst, R. R., "Post-War Monetary Policy in Australia," Economic Record,
XXIX, May, 1953, pp. I-I80
Hussain, Zahid, "Central Banking in Pakistan," Federal Economic Review,
I, Autumn, 1954.
Lane, Wo R„, "The Australian Inflation and Commonwealth Finance,"
Economic Record, XXVI, June, 1950, pp0 18-29.
Macintosh, R. M., "Broadening the Money Market," Canadian Banker,
Autumn, 1954, pp. 63-73.
Marcus, E., "The Effectiveness of Canadian Fiscal Policy," Journal of
Finance, VII, D e c , 1952, pp. 559~79»
Mclvor, R. C 0 , "Monetary and Fiscal Policy," Canadian Tax Journal, I,
Mar.-April, 1953, PP* 15-25_^__ and Panahaker, J. H., "Canadian Post-War Monetary Policy, 194652," Canadian Journal of Economics & Political Science,XX, May, 1954.
Perkins, J. 0. N., "Monetary Policy and Australia's Deficit," The Banker,
CIII, Oct., 1954, pp. 230-4.
Premchand, Kishore, "Monetary Policy in India in Post-War Years," Indian
Economic Journal, I, Jan., 1954.
Reserve Bank of India, "The Australian Banking System," Bulletin, No. 3»
Mar., 1954. 11 pp.
Rissik, Gerard, "Review of Monetary and Banking Changes in the Union
since 1932," South African Journal of Economics, XXII, Mar. 1954.
Rowan, David, "The Origins of the West African Currency Board," South
African Journal of Economics, XXII r D^c, 1954.
~
"The Monetary Problems of a Dependent Economy^ the Australian
Experience, 1948-52," Banca Nazionale del Lavoro, Quarterly Review,
VII, D e c , 1954, ppo 200-13.
58
Rowan, David, "Central Banking in the Commonwealth," Banca Nazionale del
Lavoro, Quarterly Review, VI, April-June, 1953^ PP» 130-42.
"Banking Adaptation in the Gold Coast: A Critique of the Recent
Report by Sir Cecil Trevor," South African Journal of Economics, XX,
D e c , 1952, pp. 345-65.
________ "Banking in Nigerian A Study in Colonial Financial Evolution,"
Banca Nazionale del Lavoro, Quarterly Review, IV, July-Sept,, 1952«,
Singh, D. B«, "Monetary Standard in India," Indian Economic Journal,
July, 1953, PP. 56-69.
Towers, Graham, "Post-War Monetary Policy." Statement at hearing of Standing
Committee on Banking and Commerce, House of Commons, Mar, 18, 1954, on
Bill 297, amending Bank of Canada Act* Ottawa, Bank of Canada, 1954o
Tyson, G., "Disinflation in India," The Banker, CI, June, 1952, pp. 318-21.
W^asdijk, T. Van, "Some Notes on Price Inflation in South Africa, 1938-48,"
South African Journal of Economics, XVII, Sept., 1949.
Wilson, J. S. G., "Money and Banking in British Colonial Africa," Bankers T
Magazine, XLXXIX, Feb., 1955________ "Central Banking Control in South Africa," The Banker, C H I , Oct.,
1954, pp. 241-6.
"The Indian Money Market," Banca Nazionale del Lavoro, Quarterly
Review, V, Apr.-June, 1952, pp. 89-IO3.
_____
"The Operation of Australian Central Bank Controls," Banca Nazionale
del Lavoro, Quarterly Review, IV, Jan.-Mar., 1952, pp. 3-H-
Monetary-Fiscal Policies and Problems of Latin American Economic Development
Books:
Adler, J. H., and others, Public Finance and Economic Development in
Guatemala. Stanford, Stanford University Press, 1952.
Beveraggi-Allende, M. B., El Servicio del Capital Extranjero y el Control
de Cambios: La Experiencia Argentina, 1900-1943* Mexico City, 1954„
Cruz, Rene, Dinero y Banca en Honduras, Resena Historica y Analysis de la
Situacion Originada por la Legislacion de 1950 y.la Creacion del
Banco Central de Honduras. Tegucigalpa, 1954.
Descartes, S» L.y
Fina»ncing Economic Development in Puerto Rico. San
Juan, Dept. of Finance, Govt, of Puerto Rico, 1950o
Ellsworth, P. T., Chile: An Economy in Transition. New York, Macmillan, 1945*
Hansen, Earl P», Transformation, The Story of Modern Puerto Rico0 New York,
Simon & Schuster, 1955*
Hanson, Simon G*, Economic Development in Latin America0 Washington, InterAmerican Affairs Press, 1951*
International Monetary Fund, A Report on the Process of Inflation in Chile.
Prepared by a special mission. Washington, 1954.
Joint Brazil-U.S. Economic Development Commission, The Development of Brazil.
Washington, Institute of Inter-American Affairs andF.O^Ao, 1954.
________ Brazilian Technical Studies. Washington, Institute of Inter-American
Affairs, 1955Lopez Rosada, D., and others, Problemas economicos actuales de Mexico.
Mexico, Univ. Nacional Autonoma de Mexico, 1954.
Mosk, S. A., Industrial Revolution in Mexico. Berkeley, University of
California Press, 1950.
Ortiz Mena, Raul, and others, El desarrollo economico de Mexico y su capacidad
para absorber.capital del exterior. Mexico City, Nacional Financiera, 1953*
Perloff, H. S., Puerto Rico!s Economic Future-~A Study in Planned Development.
Chicago, University of Chicago Press, 1950.
59
15l6.
1718.
19.
20.
21.
22.
^3*
24.
Prebisch, Raul, The Economic Development of Latin America and Its Principal
Problems. Lake Success, \JE Dept. of Economic Affairs, 1950.
Proudfoot, M., Britain and the United States in the Caribbean: A Comparative
Study in Methods of Development. London, Faber & Faber, 1954.
Spiegel, H. ¥., The Brazilian Economy: Chrgnic Inflation and Sporadic
Industrialization. Philadelphia, Blakiston, 1949•
Trevino, Rodrigc^ Garcia, Precios, Salarios y Mordidas. Mexico, Editorial
America, 1953*
United Nations, Economic Survey of Latin America, 1954. Mexico, tM-ECLA, 1955_ _ _ _ _ I>ePt. of Economic and Social Affairs, Foreign Capital in Latin
America. New York, 1955*
Venuti, B, di, Banking Growth in Puerto Rico. Baltimore,_Waverly Press, 1955*
Wallich, H. C , Monetary Problems of an Export Economy: the Cuban Experience,
1914-17* Cambridge, Harvard University Press, 1951•
_______ and Adler, J. H., Public Finance in a Developing Country: El Salvador,
A Case Study. Cambridge, Harvard University Press, 1951*
Wilgus, A. C. Ed. The Caribbean Area: Its Economy. Gainesville, University
of Florida Press, 1954.
Articles:;
1. Aubrey, H. G., "Structure and Balance in Rapid Economic Growth: The Example
of Mexico,f! Political Science Quarterly, LXIX, D e c , 1954, pp, 517=40.
2. Beveraggi-Allende, M. B., "Impact de las inversiones en America Latina,"
El Trimestre Economico, XX, Jan.-Mar., 1953, PP- 122-40.
3. Britnell, G. E., "Problems of Economic and Social Change in Guatemala,"
Canadian Journal of Economics & Political Science, XVII, Nov., 1951,
pp. 46b-8l0
~~
—
'
—
4. Brovedani, B., "Latin American Medium-Term Import Stabilization Policies
and the Adequacy of Reserves," IMF--Staff Papers, IV, Feb. 1955, PP* 258-87.
5. Caldwell, L. L , "Technical Assistance and Administrative Reform in Colombia,"
American Political Science Review, XLVII, June, 1953, PP° 294-310.
6. Carlson, Sune, and Schultz, T. ¥., "The Economic Potentials of Latin America,"
American Economic Review, Supplement, XLVI, May, 1956<
7. Dye, Ho S., "Development of the Banco Central in Argentina's Economy,"
Southern Economic Journal, XXI, Jan., 1955* PP- 303-18.
8. Florence S., and Lewis, A., "The Industrialisation of the British West
Indies," Caribbean Economic Review, May, 1950*
9. Grove, D. L., "The Role of the Banking System in the Chilean Inflation,"
IMF--Staff Papers, I, Sept., 195110.
"The Potentialities of Monetary Policy in the Economic Development
of Latin America." Washington, B/G of Federal Reserve System, 1951*
11. Horsefield, J. K., "Inflation in Latin America," IMF—Staff Papers, I,
Sept., 1950.
12. Huggins, H. D., "Employment, Economic Development and Incentive Financing in
Jamaica," Social 8c Economic Studies, I, Feb., 1953> PP* 1-60.
13. Hunter, J. M., "Investment as a Factor in the Economic Development of Cuba,
1899-1935," Inter-American Economic Affairs, V, Winter, 1951, PP* 82-100.
14. Lewis, W. A., "Industrial Development in Puerto Rico," Caribbean Economic
Review, I, D e c , 194915.
"The Industrialization of the British West Indies," Caribbean
Economic Review, II, May, 1950, pp. l-6l.
16. Mattera, A. A., "Foreign Exchange Budgets in Latin America," IMF--Staff Papers,
Feb., 1955, PP. 288-309.
17• Moore, 0. E., "Monetary-Fiscal Policy and Economic Development in Haiti,"
Public Finance, No. 3, 1954, pp. 230-57.
18. Perloff, H. S., "The U. S. and the Economic Development of Puerto Rico,"
Journal of Economic History, XII, Winter, 1952, pp. 45-59*
Prebisch, Raul, "Panorama general de los problemas de regulacion monetaria
y crediticia en el continente americano: America Latina," in Memoria
de la primera reunidh de tecnicos sobre problemas de Banca Central del
Continente Americano. Mekico, Bank of Mexico, 1946.
Spiegel, Ho W., nA Century of Brazilian Prices," Review of Economics 8c
Statistics, XXX, Feb., 1948.
Sturmthal, Adolf, "Economic Development, Income Distribution, anpl Capital
Formation in Mexico," Journal of Political Economy, LXIII, June, 1955,
pp. 183-201.
INTERNATIONAL MONETARY ORGANIZATION AND POLICY
Economics 242
_Fall Term; 1954
/Professor Williams/
Further Reading Suggestions,,
As a supplement to the more comprehensive bibliography compiled for
this seminar last fall, a selection of books, articles, official reports, and
documents--mainly of more recent publication date—is given below0
I
INTERNATIONAL TRADE AND FINANCEt SOME CURRENT THEORETICAL DISCUSSIONS
A#
International Trade Theory
Book;
Snider, Delbert A D , Introduction to International Economics,
Homewood, Richard Do Irwin, 1954«
Articleso
Day, A0 Co L 0 , "A Geometrical Demonstration of Stability Conditions in
International Trade," Economia Internazionale, VII, Febo 1954,
ppo 1-7__^__
"Relative Prices, Expenditures and the Trade Balances A
Note/' Economica, XXI, Febo 1954e
Ellsworth, Po T,, "The Structure of American Foreign Trades A New View
Examined," Review of Economics & Statistics, XXXVI, Aug, 1954,
pp. 279-85o
Haberler, Go, "The Relevance of Classical Theory Under Modern Conditions,"
American Economic Review, Supplement, XLIV, May 1954, pp. 552-64.
Humphrey, D 0 D., ^Forces of Disequilibrium and World Disorder," American
Economic Review, Supplement, XLIV, May 1954, pp. 552-64.
Isard, Walter, "Location Theory and Trade Theorys Short-Run Analysis,"
Quarterly Journal of Economics, LXVIII, May 1954, pp. 305-20.
"Interregional and Regional Input-Output Analysis 1 A model
of a Space-Economy," Review of Economics & Statistics, XXXIII,
Nov. 1951, pp. 318-28;
and Mo Jc Peck, "Location Theory and International and
Interregional Trade Theory," Quarterly Journal of Economics,
LXVIII, Febo 1954o
Johnson, H # G*, "Optimum Tariffs and Retaliation," Review of Economic
Studies, XXI(3), Noo 55> 1953/54o
Leontief, wTj "Domestic Production and Foreign Trades The American
Capital Position Re-Examined," Economia Intexnazionale^ VII,
Feb. 1954, also in Proceedings of the American Philosophical
Society, Volo 97, Sept, 1953* PP* 332-49*
McKenzie, La Wo, "Specialisation and Efficiency in World Production,"
Reyiew of Economic Studies, XXI(3), No. 56, 1953/54, pp..165-80.
"On Equilibrium in Graham's Model of World Trade and Other
Competitive Systems," Econometrica, XXII, April 1954•
Pigou, A, Co; "Long-Run Adjustments in the Balance of Trade," Economica,
XX, Nov, 1953, PP. 295-301o
2
Samuelson, P. A 0 , "The Transfer Problem and Transport Costs. II.
Analysis of Effects of Trade Impediments," Economic Journal,
LXIV, June 1954, pp* 264-89*
_ _ _ "Prices of Factors and Goods in General Equilibrium,"
Tfeview of Economic Studies, XXl(l), Noa 54, 1953-54, pp. 1-20.
Whitin, H.WoJ0, The Theory of International Trade—A Hew Approach,"
South African Journal of Economics, XXI, Sept* 1953, pp. 227-40.
B*
Monetary Aspects of International Trade Theory
Books
Williams, John Burr, International Trade Under Flexible Exchange Rates.
Amsterdam, North-Holland Publishing Co 0 , 1954.
Articleso
Bloomfield, A-. I., "Speculative and Flight Movements of Capital in Postwar International Finance" /studies in International Finance,
No* 3J0 Princeton, Princeton University Press, 1954.
Polak, J* J* and T0-C# Lieu, "Stability of the Exchange-Rate Mechanism
in a Multi-Country System" Econometrica, XXII, July 1954.
Watts, G» S«, "Canadian Balance of International Payments, 1950-52, and
the Mechanism of Adjustment," Canadian Journal of Economics &
Political Science, XX, Feb. 1954, pp. 19-26.
II
INTERNATIOHAL ECONOMIC PROBLEMS AID POLICIES
Aa
World Trade and Finance
1. On Some Aspects of Earlier Experience
Books:
Ashworth, William, A Short History of the International Economy,
I85Q-I95O. London, Longmans, Green, 1952.
Chalmers, Henry, World Trade Folicless The Changing Panorama
1920-53. Berkeley, University of California Press, 1954.
Moreau, Emile, Souvenir^ dfun gouverneur de la Banque de Franceg
histoire de la stabilisation du franc, 1926-192^ Paris
Librairie de Medicis, 1954.
Zakaria, Ismail, Change, commerce exterleur et equllibre ^conomlque
Internationale A'^pyes. la doctrine et les experiences
francaises, 1919-50» Paris, Editions A. Pedone, 1953»
Articles"
Allen, ¥« Ro, "The International Trade Philosophy of Cordell Hull,
1907-33," American Economic Review, XLIII, March 1953*
Lees, Dp S*, "The Technique of Monetary Insulation, Dec* 1932 to
Dec. 1937," Economica, XX, Nov* 1953-
3
2
*
Exchange and Trade Controls: Some Recent Studies
Articlesi
Ames, Edward^ "Soviet Bloc Currency Conversions," American Economic
Review, XLIY, June 1954, pp* 339-53Clayton, OT, rTThe Development of British Exchange Control, 1939-45,"
Canadian Journal of Economics & Political Science, XEX,
May 1953 de Neuman, A0 M., "fTiedT International Trading--*the Indonesian Rami
Fibre Test Case," Economic Journal, LXIY, June 1954, pp. 324-36*
Gibbons, Ac 0., "Foreign Exchange Control in TJanada, 1939-51*" Canadian
Journal of Economic^ & Political Science, XIX, Feb. 1953»
Mikesell, I T F T J "The Emerging Pattern of International Payments"
/Essays in International Finance, No a l8/0 Princeton,
Princeton University Press, April 1954.
Sacchetti, Ugo, "Some Considerations of Triangular Trade as Influenced
by Retention Quota Arrangements," Economia Internazionale,
VII, Feb. 1954, ppo 65-81 a
•B*
International Financial Institutions
1#_ The International Mbnetary Fund:
Problems of Exchange Rate Policy
Books:
Mikesell, R0 F., Foreign Exchange in the Postwar World. New York,
Twentieth Century Fund, 1954.
Rittenshausen, H<>, Internationale Handles- und Devisenpolitik.
Frankfurt/Main, Fritz Knapp Verlag,1953.
Articles:
Behrmanj J, N., "Alternative Lending Policies for the International
Monetary F^nd," Review of Economics & Statistics, XXXVI,
Aug. 1954> pp. 33^43^
Economist, The, current issues; see especially Sept. 25, 1954
(PP. 995-6).
Gudin, flugenio, "Le probl^me de l*equilibre economique international
et les tendences actuelles du Fonds Mbne'taire International,"
Politique . Etrangere, XVII, Jan. 1953, pp. 461-70.
_ _ _ ^ _ _ ^ _ _ ^ and J. Kingston, "The Equilibrium Exchange Rate of the
Cruzeiro," Economia Internazionale, IV, Feb. 1951> PP- 6O-89.
James, Emile and Le Thank-Khoi, "Les difficulte's du Fonds Mbnetaire
International et leurs causes," KyJJLos, VII, No. 1-2,
pp, 91-106•
Katz, S,* I., "The Canadian Dollar 1 A Fluctuating Currency," Review
of Economics & Statistics, XXXV, Aug. 1953, PP° 236-43.
MacDougall, Sir Donald, "Flexible Exchange Rates," Westminister Bank
Review, Aug. 1954, pp. 1-3*
4
Merwin, C. L.,
Qu'advient-il du Fonds Mone'taire Internation?"
Revue IJJconomique, March 1954, pp. 252-62.
Meyer, B. S», "Recognition of Exchange Controls after the International Monetary Fund Agreement ," Yale Law Review» May 1953Scammell, ¥. M., "What Sort of Exchange Rates?" Westminster Bank
Review, May 1954, pp.1-4.
Tfoodley, W.J.R., "The Use of Special Exchange Rates for Transactions
with Foreign Companies/7 IMF Staff Papers, III, Oct. 1953,
pp. 254-69.'
2m World Bank; Export-Import Bank; and Problems of Foreign Investment
Official Reportso
International Bank for Reconstruction and Development, Ninth Annual
Report, Washington, D» C*, 1953*
_ _ _ „ _ _ _ _ _ _ ^
„
Staff
Report, "The International Bank for Reconstruction and
Development, 1^46-53« Baltimore, Johns Hopkins Press, 1954U.S*, Senate Committee on Banking and Currency, Study of ExportImport Bank and World Bank.*«Hearings /§3 Congress, 2d
Session/ on So Res. 25, Jan- 25-Feb* 2, 1954. Part I.
Washington, D.C., 1954.
Books
Arey, Hawthorne, History of Operation and Policies of Export-Import
Bank of Washington« Washington, D.C«, 1953Articles:
Fortune9 "Eugene Black, Banker to the World," April 1954.
Franck, P. G*, "Obtaining Financial Aid for a Development Plan;
the Export-Import Bank of Washington Loan to Afghanistan.
Washington Supt. of Docs., 1954, 55 pp.
Spengler, J. J*, "IBRD Mission Economic Growth Theory," American
Economic Reviewf Supplement, XLIV, May 1954, pp. 583-99*
C*
G»A«T.T. and Current Problems of International Trade Policy
Official Reports:
Contracting Parties to G.A.T*T#, A Hew Proposal for the Reduction
of Customs Tariffs* Geneva, 1954, 16 pp*
G.A.T.T., Basic Instruments and Selected Documents; 2nd Supplement•
Geneva, 1954*
U,S* State Department, Public Hearings on G*A*T«T« Washington, D « C ,
G.P.O., 1954*
G.A.T.T., Secretariat, International Trade» 1953* Geneva, June 1954*
5
Articleso
Coppola d'Anna, F., "Revisionary Trends and Apprehensions Regarding
Gi\TTfs Future/1 jBanco di Roma/ Review of the Economic
Conditions in Ttaly> VII, Ifov. 1953Gorter, Wytze, ,1GATT After Six Years % An Appraisal," International
Organization, VIII, Feb. 1954, pp* 1-18.
Howe, C. D», "L'avenir du Gatt," Economia Internazionale, VI, Sept»Oct. 1953* PP- 1-12*
D*
Currency Convertibility^ Monetary Reserves, and the E«iP«.U«.
Official Reports and Documents:
Bank Deutscher Lander, Annual Report for the Year 1953* Frankfurt/Manin,
April 1954, pp* 24-9*
Bank for International Settlements, Twenty-Third Annual Report for the Year
Ended March 31» 1<?54« Basle, 1954*
Banque National de Belgique, Annual Report for the Year 1953* Brussels,
1954.
De Nederlandsche Bank, N.V# Report for the Year 1953* Amsterdam, April 1954.
European Payments Union, Fourth Annual Report, Paris, 1954*
International Monetary Fund, Hinth Annual Report* Washington, D*C, 1954.
O.E.E.C., Economic Committee, Report on the Causes of Disequilibrium in the
EPU Which Have Led to German*s Extreme Creditor Position* Paris,
April 1954.
U„S» Commission on Foreign Economic Policy Randall Report/ Report to the
President and the Congress> Washington, D»C., Jan* 1954, pp.72-5*
Staff Papers* Washington, D.C,,
Feb. 1954, Ch. X*
Books:
Robbins, Lionel, The Economist in the Twentieth Century. London, Macmillan,
1954.
Thorp, Willard, Trade, Aid, or What? Baltimore, Johns Hopkins Press, 1954,
Ch. VIJ.
Articles r,
Auboin, Roger, "La Banque des Reglements International* et V Union
Europe^nne de Paiements#" Kyklos, VII, No. 1-2, 1954, pp. 39-60.
Banker» The, especially current issues; also Aug* 1954, pp. 67-785 June 1954,
pp. 323-75 March 1954, pp. 128-32, r,151-6.
Carli, Guido, "Problems of EPU and Italian Commercial Policy," Banca
Nazionale del Lavoro, Quarterly Review, Oct.-Dec. 1953/ PP* 228-41•
Creditanstalt-Bankverein, f,Probleme der Internationalem Konvertibilit&t,"
Wirtschaftsberichte* Vienna, No. 21, April 1954.
Dernburg, H* J., "Germany's External Economic Position," American Economic
Review, XLIV, Sept. 1954*
6
Economist, The, see current issues*
Federal Reserve Bank of New York, "The European Payments Union Today/1
Monthly Review, vol. 36, Sept. 1954* pp* 120-4
Haberler, G., "Currency Convertibility/1 Washington, American Enterprise
Assn., 1954*
Jacobsson, Per, "Quelques observations techniques concernant la convertibilities Bulletin d*Information et de Documentations,
April 1954.
"The Problem of Convertibility for Western Europe,"
International Affairs, XXX, April 1954, pp« 137-47
"Convertibility as a Practical Issue," Skandinaviska Banken,
Quarterly Review9 Jan. 1954.
Jaoul, M. apxL 0. Schloesing, "L1 Union Europe'enne des Paiements," Revue
Economise, March 1954, pp. 263-77.
Mac Dougall, Sir Donald, "The Risks of Convertibility," The Listener,
Aug. 19, 1954.
Mangoldt, H. K* von^. "Die Europaische Zahlungsunion und ihre Aufgaben bei
de Heurordnung des internationalen Zahlungsverkehrs. Kiel,
Institut fur Weltvirtschaft, 1953.
Marget, A* W., "Currency Convertibility—Why and When?" An address before
The American Cotton Shippers1 Assn., New Orleasn, April 30, 1954.
Washington^ D.C.j Board of Governors, 1954*
Marjolin^ Robert, "The European Trade and Payments System: A Study in
Cooperation," Lloyds Bank Review, Jan. 1954, pp. 1-15.
Meade, J. E., "The Convertibility of Sterling," Three Banks Review, Sept. 1953.
Murphy, H. C. and others, "The Adequacy of Monetary Reserves," IMF Staff
Papers, III, Oct. 1953, pp# 181-227Robertson, Sir Dennis, "The Path of Progress Towards Currency Convertibility,"
Optima, March 1954, pp. 1-4.
Roepke, Wilhelm, "Les voies de convertibilite'," Rational Bank of Belgium/
Bulletin dTInformation et de Documentation, April 1954*
Sargent, J. R., "The Reform of EPU," Bulletin, Oxford Institute of Statistics,
Feb.-Mar. 1954, pp.73-9"Convertibility," Oxford Economic Papers, IV, Feb. 1954.
Suviranta, Br., "The Foreign Exchange Reserves," Unitas» Aug. 1953, PP* 80-5*
Triffin, Robert, "International Currency and Reserve Plans," Banca Nazionale
del Lavoro^ Quarterly Review, Jan*-June 1954, pp. 5-22.
"Possibility of Effecting Multilateral Compensation Settlements
between Latin American and European Countries through the EPU,"
OT-ECE, 1953, 19 PP.
Ill
THE PROBLEM OF INTERNATIONAL DISEQUILIBRIUM
A.
The United States in the World Economy
1.
The Dollar Problem (1953/54)
Official Reports:
International Monetary Fund, Fifth Annual Report on Exchange Restrictions.
Washington, D.C., 1954.
U.S. Commission on Foreign Economic Policy, Staff Papers. Washington^. C*,
Feb. 1954, Ch. I.
7
Books t
Harrod, R* F«, The Dollar» London, Macmillan, 1953> Ch. IV.
Palyi> Melchior, The Dollar Dilemma: Perpetual Aid to Europe?
Chicago, Henry Regnery Co., 1954*
Rappard, Wilhelm, A quot tient la superiorite economigue des
iftats-Unis? Paris, Genin, 1954.
Robbins, Lionel, The Economist in the Twentieth Century• London,
Macmillan, 1954.
Articles:
Bucros, Bernard, "Les investissement americains a l'etranger et
l'equilibre international," Revue Economigue, March 1954,
pp* 190-216.
Kindleberger, C. P . , "L'asymetrie de ,1a balance des paiements e t l e
probikme du dollar," Revue Economigue, March 1954, pp* l6l*5«
MacDougall, Sir Donald, "A Lecture on the Dollar Problem,*1 Economica,
XXI, Aug. 1953•
Ma#cy, G. E., "The Dollar Shortage—Seven Years Later," Yorkshire
Bulletin of Economic & Social Research, V, Aug* 1953>
pp. 99-U7.
Meade^ J. E., "Atlantic Community and the Dollar Gap." London, Friends
of Atlantic Union, 1953* 35 PPHurkse, Ragnar, "A Hew Look at the Dollar Problem and the U.S. Balance
of Payments/1 Economia Internationale, VII, Feb. 1954, pp. 46-60*
Schmitt, M*j "Das Deutsche Dollarproblenu" Frankfurt: Gesellschaft
zur FSderung des Deutsch-Amerikanischen Handels, 1953> 118 pp*
Viner, Jacob, "The Role of the United States in the World Economy."
Paper given at Columbia University Bicentennial"Conference III
on National, Policy for Economic Welfare at Home and Abroad.
New York, Columbia University Press, ^Tentative, Dec^J 1954•
Williams, John H#, "The Dollar Problem" /Comment on Professor Vinerfs
paper above/* Mimeographed copy, May 28, 1954.
2*
American Foreign Economic Policy
Official Reportso
U.S# Commission on Foreign Economic Policy, Report to the President
and the Congress. Washington, B.C., Jan* 1954#
__________ Staff Papers, Washington,
D.C., Feb. 1954.
Bookso
Brookings Institution, Major Problems of U«S. Foreign Policy9 1954*
Washington, D*C, vol* 6, 1954*
Coleman, John S»» -ZAaerlcA's Vital Stake in International Trade.
Dallas, Southern Methodist University Press, 1954.
Patterson, Gardner and Associates, Survey of United States International
Finance, 1953 ^Annual/. Princeton^ Princeton University Press,
1954.
Thorp* Willard, Trade, Aid, or What? A Report Based upon a Conference
on International Economic Policy, Merrill Center for Economics,
Summer 1953• Baltimore, Johns Hopkins PressA 1954.
8
Articless
C , "The International Position and Commitements of the U.S.11
/national Economic Problems, No. 4497* Washington, D.C«, 1953Baffi, P., "The Dollar and Gold/1 Banca Nazionale del Lavoro, Quarterly
Review, VI, July-Sept. 1953*
Beattie, Jo R., "U.S. Foreign Trade Policy as Seen from Canada,"
Michigan Business Review, VI, March 1954, pp* 6-11.
Bidwell, Percyj "The Tariff in Transition," Foreign Affairs, April 1954.
Brown, Jr.j R. S., "Techniques for Influencing Private Investment/1 in
Income Stabilization in a Developing Democracy (ed« by Max
Millik n)l
~ ~
~~™~
Conickj M. C*, "Stimulating Private Investment Abroad/1 Harvard Business
Review, XXXI, Nov.-Dec. 1953* PP- 104-12.
Gardner, Richard, "After Randall—An American View," The Banker, March 1954.
Johnson, D» Gale, "Agricultural Price Policy and Interactional Trade"
/Essays in International Finance, No. Ig7 Princeton, Princeton
University Press, June 1954.
Khorr, Klaus, "Market Instability and United States Policy," Journal of
Political Economy,
and G. Patterson, "A Critique of the Randall Commission
Report." Princeton, Princeton University Press, 1954.
Kravis, I. B*> "The Trade Agreements Escape Clause/' American Economic
Review, XLIV, June 1954, pp. 319-38.
"The Growth Criterion as a Guide for Reciprocal Trade
Policy," Quarterly Journal of Economics» LXVI, May 1952.
Maleribaum, W*, "Grants and Loans in U.S. Foreign Assistance," World
Politics, VI, April 1954, pp. 338-57Piquet, H« S*, "Would Tariff Suspension Hurt U.S. Business?" Harvard
Business Review, XXXI, Nov.-Dec* 1953, pp. 95-103Stassen, Harold, "The Case for Private Investment Abroad," Foreign Affairs•
April 1954, pp» 402-15.
Stein, Herbert, "lew Steps in U.S. Trade Policy," Lloyds Bank Review,
Oct. 1953, PP* 1-15*
Woodruff, W«, "Trade Policy with Britain," /University of Illinois/
Current Economic Comment, XVI, Feb. 1954, pp. 23-31*
Abbott, C
9
Bo
Britain and the Sterling Area in the World Economy
Books:
Day, A. C, L., The Future of Sterling, London, Oxford University
Press, 1954.
Grondona, Lo St. Clare, Commonwealth Stocktaking* London, Butterworth
Pubs., Ltd., 1953•
Hawtrey, R0 G., Towards the Rescue of Sterling. London, Longmans,
Green, 1954„
~™
Meyer, F. V., Inflation and Capital0 London, Bowes & Bowes, 1954,
Parker, R. S. (ed 0 ), Economic "Stability in New Zealand. Wellington,
Institute of Public Administration, 1954.
Bobbins, Lionel, The Economist in the Twentieth Century,, London,
Macmillan, 1954.
Robertson, Sir Dennis, Britain in the World Economy. London, Allen &
Unwin, 1954 0
Articles:
Bloche-Laine' F. J* and others,"iftudes sur les zones monetaires," Revue
Economique, November 1953.
Caine, Sir Sydney, f,Some Doubts About Sterling Area Policy," Lloyds
Bank Review, April 19540
Cairncross, AQ K., ^The Future of British Trade," Scottish Journal of
Political Economy, I, June 1954.
Chambers, s. P., "the Changing Pattern of Britain's Trade and Industry,"
South African Journal of Economics, XXI, December 1953.
Cole, Ho and M. Shanks, "Policy for the Sterling Area" [Fabian Tract
NOo 293]. London, Gollancz, 1953.
Conan, A 0 R c , "The Recession and the Sterling Area," The Banker,
Aug. 1954, ppo 103-8o
"Clouded Outlook for Reserves," The Banker, JanQ 1954,
pp. 30-6.
"The Sterling Area After the Boom," The Banker, Oct. 1953.
Copeland, D„ B., "Problems of the Sterling Area, with Special Reference
to Australia" [Essays in International Finance, No* if].
Princeton, Princeton University Press, Sept. 1953Greaves, Ida, "The Colonial Sterling Balances" Essays in International
Finance, No. 20 . Princeton, Princeton University Press,
Septo 1954.
"The Character of British Colonial Trade," I, Journal of
Political Economy, LXII, Feb. 1954.
"Sterling Balances and the Colonial Currency System: A
Comment," Economic Journal, LXIII, Dec. 1953=
Gugliemi, J,.-L., "La zone sterling et 1'attraction du dollar," Revue
Economique, March 1954, ppQ 23l-510
Harrod, R. F., "Self-help and 'Helpfulness* in British-American Trade,"
Foreign Affairs, Oct. 1953, pp. 102-22.
Hazlewood, Arthur, "Colonial External Finance Since the War," Review of
Economic Studies, XXl(l), No. 54, 1953-54, pp. 31-52.
""
"Sterling Balances and the Colonial Currency System,"
Economic Journal, LXII, Dec. 195^further comments, ibid., LXIV,
Sept. 1954, pp. 616-20»
Jackson, J* M», "British Exports and the Scale of Production," The
Manchester Schoolf XXII, Jan. 1954.
10
Katz, So Io, "Exchange Flexibility and the Stability of Sterling,"
Economic Journal; XLIV, March 1954.
~
"Sterling Instability and the Postwar Sterling System,"
Review of Economics & Statistics, XXXVI, Feb. 195.4.
Kelly, To 17^ "South Africa's Foreign Trade, 1933-53/ South African
Journal of Economics, XXII, March 1954c
Kent, To W ~ !* Canada % Britain1 s Test," District Bank Review, Mar. 19540
MacDougall, Sir Donald and R. Hutt, "imperial Preference: A Quantitative
Analysis," Economic Journal, LXIV, June 1954, pp0 233-57Nelson, J. R* and Do Ko Palmer, "United States. Foreign Economic Policy
and the Sterling Area" [Memo No. 4] . Princeton, Center of
International Studies, 1953.
Nevin, E D , "A Note on the Valuation of British Imports," Bulletin,
Oxford Institute of Statistics, XVI, JanQ 1954.
Robinson, E c A. G., "The Changing Structure of the British Economy."
Paper given at Cambridge University, jfeptomlg Journal, LXIV, Sept. 1954.
"The Problem of Living Within Our Foreign Earnings,"
Three Banks Review, Mar0 1954, ppc 3-19°
Wright, Kenneth Mo, "Dollar Pooling in the Sterling Area, 1939-52/
American Economic Review, XLIV, Sept. 1954, pp. 559-76.
C. Aid, Trade, and Problems of Economic Union in Western Europe
Official Reports:
Council of Europe, The Strasbourg Plan. Etrasbourg, 1952.
European Coal and Steel Community, Deuxieme rapport general sur 1f
activite^de la Communaute', Apr. 13, 1953-Apr. 11, 1954.
Luxembourg, 1954.
High Authority Report on the
Situation of the Community at the Beginning of 1954o
Netherlands, The, Ministry of Foreign Affairs, Road to Recovery; the
Marshall Plan, Its Importance for the Netherlands and European
Cooperation. The Hague, 1954.
O.E.E.Co, Progress and Problems of the European Economy jj^h Annual
Report). Paris, 19540
Comments on the Strasbourg Plan. Paris, 1954.
Books:
Bonn, M. J., Whither Europe--Union or Partnership. London, Cohen 8c
West, 1952c
D!Estaing, E. G., La France et l!unification economique de l!Europe.
Paris, Libo de Medicis, 1953.
Erhard, Ludwig, Germany's Comeback in the World Market0 New York,
Macmillan, [pet7] 1954.
European Movement, The Economic Future of Europe° Preliminary Papers
of the 2d Conference of Westminster. London, Deutsch, 1954.
Kover, J. F., Le plan Schuman0 Ses merites--ses rjsques0 Paris,
Nouvelles Eds0 Latines, 1952.
Lavergne, Bernard, Le plan Schuman: expose''et critique de sa portee
economique et politique. Paris, 1951Luka£, Do Lo, L'integration Economique: solution de la crise de l!Europe?
Geneva, Lib. Droz, 1953*
11
Philip, Andre, LTEurope unie et sa place dans lge"conomie Internationale,
Paris, Presses Universitaires, 1953«
Le commerce international et Igunification de 1 'Europe»
Pt. 2. The Saar, Universite de la Sarre, 1953Piettre, Andre, L'Economie allemande contemporaine, 1945~52» Paris,
Genin, 1952c
Sarda, Juan, Uniones Aduaneras y Uniones Economicas. Madrid, Agilar,
S. A. de Ediciones, 1953.
Svennilson, Ingvar, Study on Long-Run Tendencies in European Economy.
United Nations-E.C.Eo Geneva, Qentative] late 1954.
Articles:
Allais, M., "La liberalisation des echanges commerciaux en Europe,"
Economist Internazionale, VI, Nos. 1-2, Feb*-Mar* 1953, pp. 5-37*
Armengaud, Andr6,"Xi!lntegration economique europeenne et la Communaut£
du charbon et 1'acier," Politique itrangere, XVIII, Nov. 1953,
PP« 345-66.
Bye, Maurice "Customs Unions and National Interests,11 International
Economic Papers, No. 3, 1954.
De Voghel, Franz, "Le probleme des finances de 1'Europe integree,"
Economia Internazionale, VI, Feb.-Mar. 1953, pp. 228-34.
Driscoll, jTJ "Early Days in Schumania," Journal of Industrial Economics,
II, April 1954, ppo 89-117Ehrmann, H. W., "The French Trade Associations and the Ratification of
the Schuman Plan," World Politics, VI, July 1954.
Emminger, 0., "Deutschlands Stellung in der Weltwirtschaft*1 ["Kieler
Vortrage No0 4J\ Kiel, Institut fur Weltwirtschaft, 1953.
Eyck, Fo G ~ "Benelux in the Balance," Political Science Quarterly, LXIX,
MarQ 1954, pp. 65-91.
Hartog, F., "European Economic Integration- A Realistic Conception,"
Weltwirtschaftliches Archiv, vQ 71, Nol 2, 1953, pp. 165-79Klaasse, C 0 A., "Monetary System and Monetary Policy in a Federated
Europe," Economia Internazionale, VI, Feb.-Mar. 1953, pp. 162-70*
Kuin, P., "Lessons of Benelux," Progress, No. 240, Autumn 1953, PP» 160-6.
Meissner, Frank, "Customs Union0. The Scandinavian Experience," Current
Economic Comment, XVI, Feb0 1954, pp* 44-52.
Mendershausen, H 0 , "First Tests of the Schuman Plan/1 Review of Economics
& Statistics, XXV, Nov. 1953, pp. 269-880
Papi, Go U ~ "Monetary System and Policy of a Federated Europe," Economia
Internazional^ VI, Feb.-Mar, 1953, pp. 191-201.
Progress (Magazine of Unilever), "Problems of a European Economic Union,"
Summer 1954, articles by Ho J. Abs and D. U, Stikker.
Richter, J* H., "Agricultural Integration in Europe," Journal of Farm
Economics, XXV, Nov. 1953.
Schmitz, W ~ "Die Wirtschaftliche Integration Europas." Vienna, Verlag
fur Geschichte und Politik, 1953, 36 pp.
Shuman, H« E., "Stalemate in European Union,11 Current Economic Comment,
XVI, May 1954, pp. 27-360
Triffin, Robert, "Systeme et politique monetaires de 1"Europe Federee,"
.EpQDQftte lAterflaz^Qflale, VI, Feb.-Mar. 1953, PP« 207-12.
Vaglio, M.,
The European Coal and Steel Pool and Italian Economy," [Banco
di Roma] Review of the Economic Conditions in Italy, VIII7 Mar. 1954.
Valentine, Alan, "Benelux^ Pilot Plant of Economic Union,1 Yale Review,
XLIV, Autumn 1954, pp. 23-32.
Verdoorn, P. J., "A Customs Union for Western Europe- Advantages and Feasibility," World Politics, VI, July 1954, pp. 482-500.
12
IV
MONETARY POLICY
American Program for Economic Stability
1. Monetary Policy and Debt Management-
-Addenda
Official Reports %
Board of Governors, . Annual Reports for Years 1953 and 1954*
Washington, D.C*, 1954-55Federal Reserve Bank of New York, Annual Reports for the Years
1953 and 1954. New York, 1954-55Books ?
Committee for Economic Development, Managing the Federal Debt.
New York, Sept. 1954*
Fforde, J. S., The Federal Reserve System, 1945-49« London,
Oxford University Press, 1953*
Murad, Anatol, Private Credit and Public Debt. Washington, D.C,
Public Affairs Press, Sept. 1954.
Articleso
Alhadeff, D. A., "Monetary Policy and the Treasury Bill Market,11
American Economic review, XLII, June 1952, pp. 326-46.
Bopp, K R., "Central Banking Objectives, Guides, and Measures,"
Journal of Financey IX, March 1954, pp. 11-22.
Burgess, W. R., "Federal Reserve and Treasury Relations/1 Journal
of Finance, IX, Mar. 1954, pp. 1-11.
Donovan, C. H., "Debt Management and Federal Reserve Credit Policy
Since 1945," Southern Economic Journal, XX, Jan. 1954.
Federal Reserve Bank of New York, "The Treasury and the Money Market."
New York, May 1954.
, "Bank Reserves: Some Major Factors
Affecting Them. New York, Nov. 1953Institute of International Finance, "Realistic Credit and Debt
Management Policies," Bulletin No. 184, Dec. 8, 1953;
also "Refunding the Public Debt," Bulletin, No. l8l,
May 18, 1953Kock, A. R. and others, "Money Market Developments and Prospects
Since the Accord,""" Journal of Finance, X, ^forthcoming/1955McCracken, P. W., "The Public Debt: Hindrance or Advantage to Credit
Control?" Journal of Finance, VIII, May 1953> PP* 159-68.
Morton, W. A., "The Structure of the Debt and the Price of Money,"
American Economic Review, Supplement, XLIV, May 1954.
Reierson, R. L., "Working of the Credit Mechanism," Journal of Finance;,
VIII, May 1953. PP- 177-89.
Riefler, W. W., "Monetary Policy," Journal of Business, XXVII, July
1954, pp. 235-42.
Robinson, M. A., "Federal Credit and Creditors--Who Holds the National
Debt?" Hanover, Amos Tuck School of Business Administration,
1954, 12 pp.
Shaw, E. S., "Monetary Policy and the Structure of Debt," American
Economic Review, Supplement, XLIV, May 1954.
13
Simmons, E* CL, "Sales of Government Securities to Federal Reserve
Banks under Repurchase Agreements," Journal of Finance,
IX, Mar. 1954, pp. 23-40.
Sproulj Allan, "Independence of the Federal Reserve System**1 New
York, Federal Reserve Bank, Jam 25, 1954*
Walker, C* E*, "Federal Reserve Policy and the Structure of Interest
Rates/* Quarterly Journal of Economics, LXVTII, Feb* 1954,
pp. 19-42.
Weintraub, Sidney/ "The New Monetary Policy," Social Research, Winter
1953, PP. 399-417
Youngdahl, C. R., "Monetary Policy in Recent Years," American Economic
Review, Supplement XLV, May 1955*
UJ3. Economic Policy in Recession
Official Reports:
Eisenhower, President, Report to Congress on the Economic
Condition of the Nation, Aug. 12, 1954.
U.S. Congress> Joint Committee on Economic Report; January
1954 Economic Report of the President; Hearings*
Feb. 1-18, 1954* Washington, D.C*, GPO, 1954, 899 PPJoint
Economic Report, 1953- Washington, D. C , GPO, 1954
111 PP.
Books:
Committee for Economic Development, Problems in Anti-Recession
New York,1954.
Policy, A Supplementary Paper
Defense Against Recession:
Policy for Greater Economic Stability. New York, 1954.
Hayes, D* A., Business Confidence and Business Activity: A Case
Study of the Recession of 1937* Ann Arbor, University
of Michigan Press, 1951*
Prochnow, EL V. (ed.), Determining the Business Outlook. New York,
Harper •» 1954, chapters 3 and 16.
Rolph, E. R., The Theory of Fisc&l Economics. Berkeley, University
of California Press, 1954*
Roose, K. D,, The Economics of Recession and Revival, An Interpretation of I937-38. New Haven, Yale University Press,
1954.
Universities-National Bureau Committee for Economic Research*
How to Combat Depression ^Special Conference No** 6/
Frinceton, Princeton University Press.f fin process^ 1955Articles:
Adler, S., "External Impact of Economic Developments in UJ3JU,"
London & Cambridge Bulletin in The Times Review of Industry,
Sept. 1954, pp. ii-iv.
Balogh, T», "American Trends and British Policy," The Banker» Dec.
1953. PP* 347-53*
Bell, P. W*, "Federal Reserve Policy and the Recession of 1937-38: A
Note/* Review of Economics & Statistics, XXXIII, Nov* 1951.
Blyth, C. A., "The 1948-49 American Recession," Economic Journal
LXIV, Sept. 1954, pp. 486-510*
14
Bratt, E. C* and J. P. Ondrechen, "1948-1949 Recession Re-examined";
rejoinder by D* Hamberg, Economic Journal, LXIII, Mar* 1953*
Brockie, M. D., "Theories of the 1937*38 Crisis and Depression,"
Economic Journal, LX, June 1950, pp. 292-310Ellis, H. S. and others, "A Symposium on the Economic Report of the
President and Related Documents," Review of Economics &
Statistics, XXVI^ Aug. 1954, pp. 249-66.
Gurley, J, G., "Fiscal Policy in a Growing Economy," Journal of
Political Economy, LXI, Dec. 1953I further comments by
¥. L. Smith and J. G. Gurley, ibid-, LXII, Oct. 1954.
_^
"Deficits, Surpluses and National Income," Southern
Economic Journal! XIX^ July 1954.
Bamberg, D., "The Recession of 1948-49 in the U.S.A./' Economic
Journal, LXII, Mar. 1952, pp. 1-14.
Hillman, H. C*, "The Impact on the British Economy of an American
Recession," (London) Banker*s Magazine, April 1954.
Institute of International Finance, "The Comming Business Pattern,"
Bulletin, Ho» 186, April 27, 1954.
Jewkes, John, "Full Employment Policy in the United States/' District
Bank Review* Sept. 1954.
Roose, K. D*, "The Role of let Contribution to Income in the Recession
and Revival of 1937*38," Journal of Finance, VI, Mar. 1951*
,
m "Federal Reserve Policy and the Recession of 1937-38,"
Review of Economics & Statistics, XXXII, May 1950, pp. 177-83^^^^^^
"The Recession of 1937-38," Journal of Political Economy,
LVI, June 1948, pp. 239-38*
Seers, Dudley, "The Summer Recession in 1952," Bulletin, Oxford
Institute of Statistics, XV, Feb.-Mar. 1953B.
Monetary Policy Abroad: Addenda
Books:
Institute of Bankers,firjtishBanking Today. London, Pitman, 1953*
International Banking Suntmer School, The Recent Evolution of the Rold
of the Banks in the Economy. Brussels, Assn. Beige des Banques,
1954.
Spentisas, G. I*, Organisation et controle du cr^clit bancaire en France:
reformes e'conomiques contemporaines* Paris, Sirey, 1953*
Stucken, Rudolf, Deutsche Geld^und Kreditpolitik, 1914 bis 1953* Tubingen,
Mohr, 1953*
Articless
Auboin, Roger, "L^ reforme monetaire, condition de 1'unite europeenne,
Revue dyEconomie Politique, Mar.-April 1953*
157-61
Banker, The, current issues* see also Sept. 1954, pp. 141*8* Aug* 1954,
pp* 79-8$: June 1954, pp. 315*27*
Baaque Rationale de Belgique, La politique du cre'dit en France depuis 1946,"
Bulletin dfInformation et de Documentation, Nos. 5*6, May-June 1954.
Camu, Louis, "Post-War Economic Developments in Belgium," National Provincial
Bank Review, May 1954, pp. 9-17*
Crick, W* P.,. "Old and New Instruments of Monetary Policy," Societe'
d'Economie Politique de Belgique, Ho. 212, Mar. 1952, pp. 6-20
15
Economist* The, "British Banking, 1954," Special Supplement, June 12, 1954*
Federal Reserve Bank of lew York, "Recent Monetary Policy Changes Abroad,"
Monthly Review, v. 36, Oct. 1954.
^^
"Postwar Monetary Policy in Belgium,"
i
Monthly Review, v. 35, July 1953, pp. 106-10.
Gurley, J# G*, "Excess Liquidity and Monetary Reforms, 1944*52," American
Economic Review, XLIII, Mar* 1953*
y
Gruson^ C.^ "Le franc, et la politique de creciit/* Economie Appliqu^e,
Jan.-Mar. 1952*
Hirst, R. R., "Post-War Monetary Policy in Australia," Economic Record,
XXIX, May 1953, PP* 1-18.
Lanner, James, "British Monetary Policy, 1945-52," Weltwirtschaftliches
Archiv, v. 71, No* 1, 1953, VV* 91-109*
Masoin, M.-, "Stabilite financiere interieure et pl^in emploi; est~il possible de les concilier?" Revue de Science' et de Legislation
Flnancieres, IV, July-Sept. 1954, pp. 547~?2.
Mejvor, R. C , "Monetary and Fiscal Policy," Canadian Tax Journal, I,
March-April 1953, PP» 15-25.
an
_^_^
& ^* H- Panabaker^ "Canadian Post-War Monetary Policy,
1946-52/1 Canadian Journal of Economics & Political Science*
XX, May 1954, pp. 207-26.
Midland Bank Review, "Monetary Survey, 1953-54," May 1954.
Penglao% C , "Aspects Ectuels de controle du credit/1 Revue d!Economie
Politique, lov.-Dev. 1953*
Rissik, G., "Review of Monetary and Banking Changes in the Union Since
1932," South African Journal of Economics, XXII, Mar. 1954,
pp. 127-38.
Rueff, J., "La regulation monetaire et le probleme institutional de la
monnaie/* Revue dgEconomie Politique, Jan*-Feb* 1953*
Sayers, R. S., "Open Market Operations in English Central Banking,"
Schweizerische Zeitschrift fur Yolkswirtschaft und Statistik,
Ho* 5, Oct. 1953.
Schmidt, Willi, "Special Features of the West German Central Banking System,"
Banker8s Magazine, Aug. 1954.
Stucken, R., "Particularites de la politique monetaire et de credit en
Allemagne Occidentale," Revue de Science et deLegislation Financieres, July-Sept. 1954, pp. 530-47Towers, G. F., "Post^War Monetary Policy" Statement at a hearing of the
Standing Committee on Banking and Commerce of the House of
Commons, March 18, 1954, on Bill 297, amending the Bank of Canada
Act. Ottawa, Bank of Canada, 1954, 20 pp.
C* Monetary Conditions and Policies in the Less Developed Countries
Books:
Malhotra, D* K., History and Problems of the Indian Currency, 1935-49;
an introductory study. Simla, Minerva Book Shop, 5th ed., 1949*
Muranjan, S. K., Modern Banking in India. Bombay: Kamela Pub. House,
3d ed., 1952.
Parekhj H. T., The Bombay Money Market. Bombay, Oxford University
Press, 1953Raj, K. M.j The,Monetary Policy of the Reserve Bank of India. A Study of
Central Banking in an Underdeveloped Economy. Bombay, National
Information & Publications,Ltd., 1948.
16
Sayers, R. S. fe&J,
Banking in the British Commonwealth. Oxford,
Clarendon Press, 1952*
Sen, S. N», Central Banking in Undeveloped Money Markets. Calcutta,
Bookland Ltd., 1952.
Tamagna, F. M., Banking and Finance in China. New York,
U Tun Wai, Burmafs Currency & Credit* Cambridge, Heffer, 1953.
Wallich, H. C , Monetary Problems of an Export Economy:; The Cuban
Experience, 1914-47. Cambridge, Harvard University Pressy 1950.
Yang, Lien-shing, Money and Credit in China. A Short History. Cambridge,
Harvard University Press, 1952.
Articles:
Axilrod, S _H., "Inflation and Development of Underdeveloped Areas"
/a note/* Revlev of Economics & Statistics, XXXVI, Aug* 1954,
PP. 334-8.
Banker, The, "Monetary Systems of the Colonies," July 1948-Feb. 1949*
"Ceylon's Central Banking Experiment," July 1950, pp« 33-8*
Bernstein, E. M. anfi others, "Economic Development with Stability," IMFStaff Papers, IV, Feb* 1954.
and I. G. Patel, "Inflation in Relation to Economic
Development," IMF-Staff Papers, II, Nov. 1952, pp. 363-98.
Campbell, C. D. and G. C. Tullock, "Hyperinflation in China, 1937-49"
Journal of Political Economy, LVI, June 1954, pp. 236-46.
Das Gupta, A. K. and others, "Inflation and Mobilization of Domestic
Capital," Economic Bulletin for Asia and, the Far East
fjj.nj3
Feb. 1952, pp. 21-39Felix, David, "Investment and Inflation in Underdeveloped Area,'1 Proceedings of the Western Economic Association, 1952, pp. 67-71
Greaves, Ida, "Colonial Monetary Conditions" ^Colonial Research Studies
No. 107. London, H.M.S.O., 1953Grove, David, "^he Role of the Banking System in the Chilean Inflation,"
IMF-Staff Papers, I, Sept. 1951*
"Objectives and Potentialities of Monetary Policy in Underdeveloped Countries." Washington, D.C., Board of Governors", 1952,
Herenchak, Walter, "Inflation in an Export Economy," Southern Economic
Journal, XXI, July 1954, pp« 1-14.
Mikesell, R. F., "Sterling Area Currencies of the Middle East," Middle
East Journal, April 1948, pp. 160-72.
"Monetary Problems of Saudi Arabia," Middle East Journal,
April 1947, PP. 169-79*
"Financial Problems of the Middle East," Journal of
Political Economy,
Mitra, R. M., "Problems of Money Supply and Credit Control in the Indian
Banking System." Calcutta, Capital, Dec. 1953*
Patel, I. G., "Selective Credit Controls in Underdeveloped Countries," IMFStaff Papers, IV, Sept. 1954* .
Pathak, H. N.> "Central Banking in Relation to the Problem of Economic
Development," Indian Economic Journal, I, No. 4, April 1954.
Pazos, Felipe, "Economic Development and Financial Stability," IMF-Staff
Papers, III, Oct. 1953*
,
_
Penglaou, "Le credit a moyen terme et les pays sous-developpes," JRomeJ
Bancaria, April 1954, pp. 406-15.
Premchand, Kishore, "Monetary Policy in India in Postwar Years," Indian
Economic Journal, I, Jan. 1954.
IT
Rowan, David., "Banking Adaptation in the Gold Coast: A Critique of the
Recent Report by Sir Cecil Trevor, C«I.E.," South African Journal
of Economics, Dec. 1952, pp. 345-65*
"Banking in Nigeria: A Study in Colonial Financial Evolution,
Banca Nazionale del Lavoro, Quarterly Review, July-Sejrfc. 1952,
pp. 158-75*
Scheffer, C. F., n La Banque Centrale dfIndonesie et son avenir," Bancaria,
No- 8, 1953.
S C & L G S S , H» and H. Millner, "Banking without a Central-Banks
A Review of
Experience in Palestine," The Banker, April 1948, pp. 47-50*
Shannon, H. A., "The Modern Colonial Sterling Exchange Standard," IMFStaff Papers, II, April 1952, pp. 318-62.
"Evolution of the Colonial Sterling Exchange Standard,"
IMF-Staff Papers, I, April 1951, pp. 334-54.
Shenoy, B. R., "The Currency, Banking, and Exchange System of Thailand,"
IMF-Staff Papers, I, Sept. 1950, pp. 289-314.
Singh, D. B., "Monetary Standard in India," Indian Economic Journal,
July 1953, PP* 56-69.
Wallich, H. C , "Underdeveloped Countries and the International Monetary
Mechanism," in Money^Trade, and Economic Growth. New York,
Macmillan, 1941, pp. 15-32.
Young, A N., "Saudi Arabian Currency and Finance," Middle East Journal,
Summer 1953, PP- 361-80; Autumn 1953, PP* 539-56.
V
BUSINESS CYCLES AND INTERNATIONAL TRADE
International Aspects of Business Cycles
Books o
Hald, E. C , Business Cyclesu New York, Houghton Mifflin, 1954.
Hamberg, D., Business Cycles. New York;Macmillan, 1951, Pt« II, ch. 10.
Lundberg, Erik "/ed-7> The Business Cycle in the Postwar World. New
York, St. Martin's Press, (Dec.) 1954.
Malach, Vernon W., International Cycles and Canadaf g Balance of Payments,
1921 T-33. Toronto, University of Toronto Press, 1953*
Marcus, Edward, Canada and the International Business Cycle, 1927-39*
New York, Bookman Associates, 1954.
Matthews, R.C.O., A Study in Trade~Cycle History. Economic Fluctuations
in Great Britain. London,Cambridge University Press, 1954.
Visine, Franciois, Transmission de fluctuations e'conomiques par le commerce exterieur* Paris, Centre d*Etudes Economiques, 1953*
Articles:
El Molla, Yehia, "Features of Expansion and Contraction in the Egyptian
Economy," L*Egypte Contemporaine, XLIII, 1952.
Fabricant, S*, "Cycles in the Balance of Payments," Journal of the American
Statistical Association, March 1954.
Walton, E. A*, "The Vulnerability of the Canadian Economy," Canadian
18
National Income and International Trade
Books:
Neisser, H. P* and F. Modigliani^ National Income and Iixterhational Trade:
A Quantitative Analysis. Urbana, University of Illinois, 1953*
Niehans, Jurg, Ausgleichsgeatze der Amerikanischen Zahlungsbilanz*
Bern, A. Francke, 1951*
Polak, J. J*, International Economic System* Chicago, University of
Chicago Press, 1953Articles:
Horner, F* B., "Elasticity of Demand for the Exports of a Single Country,"
Review of Economics & Statistics,
Nov. 1952.
Koyck, L«, "Long-term Foreign Trade Elasticities," Metroeconomica, V,
Nos. 2-3, 1953*
Kubinski, Z. M*, "Measurements of Elasticity of Substitution in International Trade," South African Journal of Economics* XXII9 June
1954, pp* 210-22.
Lerdau, E., ^British Demand for New Zealand Exports," Canadian Journal of
Economics & Political Science, XX, Aug* 1954, pp* 321-31*
Liu, To~C, "The Elasticity of U.S» Import Demand: A Theoretical and
Empirical Reappraisal," IMF-Staff Papers, III, Feb. 1954*
Lovasy, G. and H. K. Zassenhaus, "Short-run Fluctuations in U.S. Imports
of Baw Materials, 1928-39 and 1947-52," IMF-Staff Papers, III,
Oct* 1953, PP. 270-89*
Schlesinger, E. R*, "The Long-run Outlook for U.S. Merchandise Imports,"
IMF-Staff Papers, III, Feb. 1954*
Streeten, Paul, "Elasticity Optimism and Pessimism in International Trade,
Economia Internazionale, VII, Feb. 1954, pp. 85-112.
Sweeney, T. D-, "Short Range Forecasting of U. S. Imports," IMF-Staff
Papers, IV, Sept. 1954*
Wright, Al* L., "A Note 6n Disequilibrium and the Effects of the Elasticities of Supply and Demand," Economic Journal, LXIII, Dec* 1953*
International Commodity Problems
Books:
Hurstfield, J*, The Control of Raw Materials* London, H.M.S*0. and
Longmans Green, 1953*
MacGibbon^ D* A*, The Canadian Grain Trade, 1931-51* Toronto, University
of Toronto Press, 1952.
Malenbaum, W.} The World Wheat Economy, l885'-193ft» Cambridge, Harvard
University Press, 1953*
United Nations, Commodity Trade and Economic Development. New York,
Department of Economic Affairs, 1953*
19
Articlesc
"Fluctuation, in Incomes of Primary Producers: A Comment,1*
Economic Journal, LXIII, Sept. 1953, pp* 594-607*
Bauer, P* T,, "Concentration in Tropical Trade: Some Aspects and
Implications of Oligopoly," Economlca, XX, Nov* 1953, pp. 302*21.
and B* S. Yamey, "The Economics of Marketing Reform" Journal
of Political Economy, LXII, June 1954, pp* 210-36.
Brown* A. J,, "Should Commodity Prices Be Stabilized?" District Bank
Review, Bee. 1953, pp. 3-17Clark, Colin, "A Commodity Based Currency," Banker's Magazine, July 1954,
pp. 9-14.
and E. S. Mason, "Afterthoughts on Paley," Review of
Economics & Statistics, XXXVI, Aug. 1954, pp. 267-78.
Cohen, Ruth, "Survey of National Measures for Controlling Farm Prices in
Western European Countries" /Commodity Policy Studies No. 2j.
Romes F. A. 0., 1953*
Harbury, C* D., "An Experiment in Commodity Control—the International
Wheat Agreement, 1949-53," Oxford Economic Papers, VI, Feb. 1954.
and E. Nevin, "The Instability of Sterling Commodity
Prices," Bulletin, Oxford Institute of Statistics, XV, Oct*Hart, A. G«, "L'etalon mon^taire et la stabilisation e'eonomique," Economie
Aimlicmee, VII, Jan.-June 1954, pp* 133^54*
Lewis, W A», "World Prodution, Prices and Trade, I87O-I960," Economical
XX, May 1952, pp. IO5-38.
Stern, E H„, "The Long-Term Gap in Raw Material Supply," The Bankerf
June 1954, pp. 349-53*
Sterling, B. C , "Buffer Stocks and International Commodity Problems,"
Economic Journal, LXI1I, Dec. 1953> pp. 778-90.
Yamey, B. S., "Futures Trading in Cocoa, Rubber, and Wool Tops," Three
Banks Review, Sept* 1954, pp« 2.8-41.
Ady, P*,
VI
DEVELOPMENTAL ECONOMICS
A*
On Certain Theoretical Aspects of Economic Growth
Books o
Kalecki, M., Theory of Economic Dynamics, An Essay on Cyclical and LongRun Changes in Capitalist Economy« lew York, Allen & Unwin,
1954, Pt7 6*
'
Kuznets, Simon» Economic Change, lew York Norton, 1953*
Articles:
Bensusan-Butt, D. M«, "A Model of Trade and Accumulation," American
Economic Review, XLIV, Sept. 1954, pp» 511*29*
Johnson, H. G*, "Equilibrium Growth in an International Economy,"
Canadian Journal of Economics & Political Science, XIX, Nov.
1953, PP* 478-500.
Kaldor, N», "The Relation of Economic Growth and Cyclical Fluctuations,"
Economic Journal* LXIV, March 1954*
20
B»
Basic Problems in the Development of Less Developed Countriest
Addenda
Booksi
Allen, G. C. and A, G. Donnithorne, Western Enterprise in Far Eastern
Economic Development. London, Allen & Unwin, 1954.
Barclay, G. W*, Colonial Development and Population in Taiwan*
Princeton, Princeton University Press, 1954.
Boeke, J. H*, Economics and Economic Policy of Dual Societies as Exemplified by Indoneasia. Haarlem, Tjeenk Willink, 2d ed*, 1953*
Buchanan, N. S* and H. S. Ellis, Approaches to Economic Developments New
York Twentieth Century Fund, JRov//' 1954".
"
Crane, Robert I„, Aspects of Economic Development in South Asia, New York,
Institute of Pacific Relations, 1954.
Curti, Merle and B. Kendall, Prelude to Point IV. Madison, University of
Wisconsin Press, ^ctober/ 1954.
Higgins, B. H. and others, The Economic and Social Development of Libya
prepared for the Government of Libya/. New York, United Nationfc,
1953Ingram, J. C , Economic Change in Thailand Since 1950* Stanford, Stanford
University Press, 1954.
International Bank for Reconstruction and Development, Development Corporations and Related Institutions in Selected Countries. Washington,
D.C., 1951.
International Social Science Bulletin/UNESCQ/, Factors of Economic Progress•
Vol. VI, No. 2, 1954.
Lockwood, W. W., The Economic Development of Japan: Growth and Structural
Change, 1868-1938. Princeton, Princeton University Press, ^TovT7l954.
Madan, B. K. (Ed.), Economic Problems of Underdeveloped Countries in Asia.
Bombay, Oxford University Press, 1953Singh, Baljit, Economic Planning in Indiaf I951-1956. Bombay, Hind Kitabs,
1953*
Staley, Eugene, The Future of Underdeveloped Countries. Political Implications of Economic Development. New York^" Harper, 1954.
Thomas, Brinley, Migration and Economic Growth. A Study of Great Britain
and the Atlantic Economy, 1830-1950* London, Cambridge University
Press, 1953*
Universities-National Bureau Committee for Economic Research, Capital
Formation and Economic Growth special Conference Series, No. 6j*
Princeton, Princeton University Press, 1954.
Williamson, H. F. and J. A. Buttrick, Economic Development. Principles
and Patterns. New York, Prentice-Hall, 1954.
Articles:
Baster, James, "Development and the Free Economy—Some Typical Dilemmas,"
Kyklos, VII, No. 1-2, 1954, pp. 1-20.
Benham, Frederic, "The Colombo Plan," Economica, XXI, May 1954, pp. 93-112•
Blaisdell, Jr., T. C , "Problems of Evaluating the Effectiveness of Development Measures," Economic Development & Cultural Change, Jan^ 1954*
Bohr, K» S», "Investment Criteria for Manufacturing Industries in Under*
developed Countries," Review of Economics & Statistics, May 1954*
Cheiiery, Hollis B., "The Role of Industrialization in Development Programs,"
American Economic Reviewf Supplement, XLV, May 1955-
21
Clark, Colin, "The Have and Have-Not Countries" /llth Montague Burton
Lecture on International Relations/* Leeds, University of Leeds,
March 3, 1953*
Cochrane, D., "Economic Development in Under-Developed Areas,?l Economic
Record, XXX,. May 1954, VV« 61-72.
Gamba, C , "The Role of the State in Underdeveloped Areas/' Economic
Record, XXIX, Nov. 1953, pp. 245-56.
Goodrich, Carter, "Boliva: Test of Technical Assistance," Foreign
Affairs, v. 32, April 2954, pp. 473-81.
Granick, David, "The Pattern of Foreign Trade in Eastern Europe and Its
Relation to Economic Development Policy,1" Quarterly Journal of
Economics, LXVIII, Aug. 1954, pp. 377-400.
Ktusnets, Simon, "Les differences Internationales dans la formation de
capital et son financement," Economie Appliquee, April-*Sept* 1953*
"International Differences in Income Levels: Some
Reflections on Their Causes," Economic Development & Cultural
Change, April 1953.
Lee, Gordon, "The Commonwealth Finance Company: A First Appraisal*"
The Banker, v. 103, Aug* 1954, pp. 98-102*
Lewis, W. A*, "Aspects of Industrialisation" J^Oth Anniversary Commemoration Lectures/* Cairo, National Bank of Egypt, 1953*
_
"Economic Development with Unlimited Supplies of Labour,"
The Manchester School, XXII, May 1954.
^
"Report on Industrialisation and the Gold Coast." Accra,
Government Printing Dept., 1953•
Madan, B» K», "Dr. Rao on Deficit Financing in an Under-developed Economy";
with rejoinder by Dr* Rao, Indian Economic Review, Aug. 1953>
Meier, G* M», "The Problem of Limited Economic Development," jfconomia
Internazionale, VI, Bov» 1953•
"Economic Development and the Transfer Mechanisms Canada,
1895-1913," Canadian Journal of Economics & Political Science,
XIX, Feb. 1953, pp. 1-19*
Mikesell, R. F., "Economic Doctrines Reflected in U.N. Reports," American
Economic Review* Supplement , XLIV, May 1954, pp. 570-83*
Moore, F, J., "Some Aspects of Industrialisation and Cooperative Development in Under-developed Areas," Indian Economic Reviewf I, Aug.
1953, PP. 1-21.
Moore, Wilbert E., "Problems of Timing, Balance and Priorities in Development Measures," Economic Development & Cultural Changef II,
Jan. 1954.
Myint, Hla, "An Interpretation of Economic Backwardness,** Oxford Economic
Papers, VI, June 1954, pp. 132-63.
Nathan, Otto, "Development of Underdeveloped Countries and the Economics
of Poland Since 1945," Kyklos, VI, No. 3, 1953/ PP« 211-42.
lavarrette, I. M« and A., "Underemployment in Underdeveloped Economies,"
International Economic Papers Ho* 3> 1953Olano, F G«, "VIpws of Economic Development," World Politics, VI,
April 1954*
P#E.P«, "Private Capital for Under-Developed Areas," Planning Pamphlet, XX,
May 1 7 , 1954*
Rosenstein-Rodan, P. N., "Les besoins de capitaux dans les pays sousdeveloppes," Econbmie Appliquees, VII, Jan.-June 1954, pp. 77-87.
22
Triantis, S. G., "Economic Progress^ Occupational Redistribution and
International Terms of Trade/1 Economic Journal, LXIII, Septo 1953,
p P o 627-37.
Tyson, Geoffrey, "Savings and Planning in Asia/1 Lloyds Bank Review,
0cto 1953, PPo 16-29o
Vakil, C. N., "Investment of Foreign Capital in India0 An Enquiry into the
Possibilities, Methods and Difficulties in Connection with the
Investment of Foreign Capital in India, with Particular Reference
to American CapitalG Bombay, University of Bombay, 1953, 31 PP»
Wilson, Jo S. G., "Problems of Commonwealth Economic Development,"
Westminster Bank Review, May 1954, pp0 5-8<>
INTERNATIONAL MONETARY ORGANIZATION AND POLICY
Economics 242
Fall Term: 1953
Professor Williams
I
I.
INTERNATIONAL TRADE AND MONETARY THEORY--Background Reading........
1
II.
SOME CURRENT PERSPECTIVES ON THE THEORY OF INTERNATIONAL TRADE ....
1-3
II
III. MONETARY ASPECTS OF INTERNATIONAL TRADE THEORY:
A. International Mechanism of Adjustment and the Concept of
Equilibrium................
B. Exchange Rates in Theory and Policy. ............
.
C. Exchange and Trade Controls
...
D. International Capital Movements and the Transfer Problem
IV.
INTERNATIONAL FINANCIAL EXPERIENCE:
A. The International Gold Standard in Theory and Experience
B. Financial Problems and Policies in the Interwar Years..........
C. International Monetary Organization and Policy in the
Postwar Period:
1. The International Monetary Fund
2. The International Bank for Reconstruction and Development..
a. IBRD — Special Mission Reports
D. I. T. 0. and G. A. T. T.
E. European Payments Union
4
4-5
6-7
7-8
8-9
9-10
11-12
12
12-13
13-14
14-15
III
V.
VI.
VII.
THE
A.
B.
C.
PROBLEM OF WORLD IMBALANCE:
The Changing Structure and Pattern of World Trade
The Problem of International Balance•... A
Foreign Investment as a Corrective of World Imbalance
THE UNITED STATES IN THE WORLD ECONOMY:
Ao The Chronic Dollar Shortage....................................
1a Debate on the Price of Gold................................
B. United States Foreign Economic Policy:
1. Economic and Military Aid Program—Prospect and
Retrospect...............................................
2. Current Trade and Tariff Policies in the United States.....
3» Current U.S. Foreign Investment Problems and Policies......
l6
17
17-18
18-19
20
20-21
21-22
22-23
THE INTERNATIONAL ECONOMIC POSITION OF BRITAIN AND THE STERLING AREA:
A. Britain and the Sterling Area in the World Economy.
23-25
B. Current Controversy on Sterling Convertibility.................
25-26
VIII. AID, TRADE, AND ECONOMIC UNION IN WESTERN EUROPE:
A. Economic Integration.
1. Schuman Plan—Experiment in Regional Economic Integration..
2* Customs Unions..
B. Trade Liberalization and Problems of Currency Convertibility:
the OEEC Countries
26-27
27
27-28
28
IV
DEVELOPMENTS IN CENTRAL BANKING THEORY AND POLICY—HERE AND ABROAD ••.
THE
A.
B.
C.
29-31
RENAISSANCE OF MONETARY POLICY;
Current Monetary Policy and Debt Management in the United States..- 31-32
British Monetary Policy—Current Controversy.• •„ ........
*... 33-34
Monetary Policy and Financial Equilibrium in Western Europe
Since World War II
„
• ...•.. 34-36
V
BUSINESS CYCLES AND INTERNATIONAL TRADE:
A. Foreign Trade Multiplier and Price-Income Elasticities .. . • • <>«
36-38
B. International Aspects of Business -Cycle Disturbances. •.
*... 38-39
C. National Employment Policies and External Equilibrium..<>.....
39-40
D • International Commodity Problems
..
*....«,.
<>
o
.
.........
40-42
0
0
0
ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADEA* Theoretical Aspects of Economic Growth..
. ...<>.* ...<> o <>
42-43
B. Basic Problems in the Development of Less Developed Countries:
1. Financial Aspects of Economic Development
0...... 43-45
2o Other Theoretical and Practical Aspects of World Economic
Economic Development •.« 0 . •
...••..<> .<>*•• «*. 0 ••••.<>.• • 45 -47
3° Developmental Economics of Particular Areas °0 Some Selected
Studies o
a. Africa....... 0 .....••............
............... 47-48
b o The Far East0.....0.....................0
.. <, . 48-49
c . Middle and Near East
<
> .... ................ o. 49-50
d. Latin America: and the Caribbean Area... „.... „• •„ »......,.. 50-51
C. Commonwealth Economic Development0.
1. Britain's Role in Earlier Commonwealth Economic Development... 51-53
2. Commonwealth Economic Development in Recent Years i The
Colombo Plan.0... .„..... o » *.. *................
53-55
0
D. International Technical Assistance Programss
1. Evolution of the U.S. Point Four Program.. ............... 0... . 55-56
2. United National Technical Assistance
.........
56-57
OOQ..O*.00«..«0.....0....0.......0.900.0.0000«...00.
\?^
INTERNATIONAL MONETARY ORGANIZATION AND POLICY
Economics 242
Fall Term: 1953
Professor Williams
PART
I
INTERNATIONAL TRA^DE AND MONETARY THEORY:
'
Standard Works for Background
Read ing.
Allen, JL G..D. and Ja E, Ely, International Trade Statistics. New
York, Wiley, 1953American Economic Association, Readings in the Theory of International
Trade (isd* by H. S. Ellis and L. A. Metzler), Philadelphia,
Blakiston, 1949Haberler, G., The_Theory of International Trade, New York, Macmillan,
3rd English ed,, 1950.
Harrod, R. F., International Economics. London, Nisbet, 3rd ed., 1947Ohlin, Bertil, Interregional and International Trade. Cambridge,
Harvard University Press, 2d edo, 1935Robinson, Joan, Essays in the Theory of Employment„ Oxford, Blackwell,
2d ed., 1947, Part 3.
Taussig, Fo W., International Trade. New York Macmillan, 1927Viner, Jacob, Studies in the Theory of International Trade. New York,
Harper, 1937-
SOME CURRENT PERSPECTIVES ON THE THEORY OF INTERNATIONAL TRADE
Books:
Ellsworth, P. T., The International,Economy«, New York, Macmillan, 1950*
International Economics; New York, Macmillan, 1938.
Graham, F. D., The Theory of'International Values„ Princeton, University
Press, 194FI
'
"
""
* Kindleberger, Co P., International Economics„ Homewood, Irwin, 1953.
Marsh, Do B., World Trade and Investment. "The Econon^cQ of
InterdependenceB New York, Harcourt, Brace, 1951°
* Meade, James E., The Balance of Payments. New York, Oxford University
Press, 1951o
Pigou, A» C», Alfred Marshall Lectujre (1952), and Essays on the Problem
of the Trade Balance/ London, St. Martins, 1953.
* Viner, Jacob, International Trade and Economic Development„ Glencoe,
The Free Press, 1952, especially chs'„ 1-3International EconQgri.es. Glencoe, The Free Press, 1952*
Articles 1
Baldwin, R. E., "The New Welfare Economics and Gains in International
Trade," QJE, LXVI ,• Feb. 1952 „
Balogh, T., "Static Models and Current Problems in International
Economics," OEP, I, June 1949, pp. 191-80
Child, F. C , "The Gains from Limited Trade/1 RES, XVIII(2), No* 46,
1950-51, PP. 87-98o
2
Coen, Eo, "Decreasing Costs and the Gains from Trade," Economica,
XVTII, Aug. 1951, PP» 285-91*
de Graaff, J., "On Optimum Tariff Structures," RES, XVIl(l), No, 42,
1949-50, pp. 47-59.
Dorrance, G», "The Income Terms of Trade," RES, XVl(l), No. 39, 1948-49,
pp0 50=6o
Elliott, Go A., "The Theory of International Values," JPE, LVIII, Feb.
1950 o
Haberler, Go, "Some Problems in the Pure Theory of International Trade,"
EJ, LX, June 1950, pp. 223-40; reply by To Balogh, ibid,, March
1951, pp. 72-82; and rejoinder, ibido, Dec. 1951, PP° 777-84.
"
"Real Cost, Money Cost, and Comparative Advantage," ISSB,
Spring 1951°
* Harrod, Roy F., "The Foreign Balance," in Towards a Dynamic Economics<,
London, Macmillan, 19480
Hicks, J. R 0 , "Free Trade and Modern Economics," MSS, Session 1950-51.
James, S. F. and I. Fo Pearce, "The Factor Price Equalisation Myth,"
RES, XIX(2), No. 49, 1951-52, with comment by P. Ao Samuelson,
pp0 111-22.
Johnson, Ho G., "The T&xonomic Approach to Economic Theory," EJ, LXI,
Deco 1951, pp. 812-32.
^ - ^ — n ° P t i m u m Welfare and Maximum Revenue Tariffs," RES,
XIX(l), No. 48, 1950-51, PP» 28o35^
Kahn, R. F,, "Tariffs and the Terms of Trade," RES, XV(l), No0 37,
1947-48, pp0 14-19o
Lerner, A. P., "Factor Prices and International Trade," Economica, XIX,
Feb. 1952, pp. I-I80
Little, I. M. Bo, "Welfare and Tariffs," RES, XVl(2), No, 40, 1949-50,
pp. 65-70.
MacDougall, G. D. A., UBritish and American ExportSo A Study Suggested
by the Theory of Comparative Costs," EJ, LXI, Dec. 1951 (Ft. I)
pp. 697-724; (Pt. II) ibid., Sept. 1952, ppQ 487-$21.
Matthews, R„ C. 0., "Reciprocal Demand and Increasing Returns," RES,
XVII(2), No. 43, 1949-50.
Meade, J. E., "The Equalisation of Factor Prices," Metroeconomica, II,
No. 2-3, 1950.
"External Economies and Diseconomies in a Competitive
Situation," EJ, LXII, March 1952, pp. 54=67o
Meier, G. M., "A Note on the Theory of Comparative Costs and Long-Period
Developments," EI, Aug. 1952, pp. 609-20.
"The Theory of Comparative Costs Reconsidered," OEP, I,
June 1949o
Metzler, L» A., "Graham's Theory of International Values," AER, v0 40,
June 1950, pp0 301-220
"Tariffs, International Demand, and Domestic Prices,"
JPE, LVII, Aug. 1949, PP° 345-51*
"The Theory of International Trade," in A Survey of
Contemporary Economics, volo I 0 Philadelphia, Blakiston, 1948,
pp. 210-54.
Pedersen, Jjz^rgen, "On the Effects of National Economic Planning on the
International Division of Labour," EI, III, Feb. 1950, ppQ 142-60,
Polak, J. J., "The fOptimum Tariff1 and the Cost of Exports," RES, XIX(l),
No. 48, 1950-51, PP. 36-41.
3
Robertson, D. H., "The Terms of Trade," ISSB, III, 1951, pp. 28-33Reprinted in Utility and All That„ London, Allen & Unwin, 1952,
pp. 174-81.
Rostov, W. Wo, "An Historian's Perspective on Modern Economic Theory,"
AER, Supplement, v* 41, May 1951, Pp. 16-29.
*
"The Terms of Trade in Theory and Practice," EHR, III
-"" /2nd series7 Noa 1, 1950, pp 1-200
Samuelson, P, A o ; "The Transfer Problem and Transfer Costsi the Terms
of Trade When Impediments Are Absent," EJ, LXII, June 1952, pp. 278304.
"International Factor»Price Equalisation Once Again,"
EJ, LIX, June 1949, pp. 181-97"International Trade and the Equalisation of Factor
Prices," EJ, XVIII, June 1948, pp. 163-85.
Savosnik, K* M., "National Income, Exchange Rates, and the Balance of
Trade," Economica, XVII, May 1950, pp. 196.-210; comment by
W. Beckerman, ibid., XVIII, Aug. 1951, PP- 292-4.
Smithies, A., "Modern International Trade Theory and International Policy,"
AER, Supplement, v. 42, May 1952, pp. 168=76.
Spraos, John, "'The Theory of Forward Exchange and Recent Practice," MS,
XXI, No. 2, May 1953, pp. 87=117.
Stevens, R* W., "New Ideas in International Trade Theory," AER, v. 41,
June 1951.
* Williams, J. Ho, "International Trade Theory and Policy—Some Current
Issues," AER, Supplement, v. 41, May 1951, PP* 418-30. Reprinted in
Economic Stability in a Changing World.
"The Theory of International Trade Reconsidered," EJ,
XXXIX, June 1929, PPo 195-209. Reprinted in Post-War Monetary Plans.
Young, Allyn, "Increasing Returns and Economic Progress," EJ, XXXVII, Dec.
1928, pp0 527-42.
*
*
*
4
PART II
III. MONETARY ASPECTS QF INTERNATIONAL KTRADE THEORY
A., International Mechanism of Adjustment and the Concept of Equilibrium
Books:
Ellsworth, P. To, International Economics, New York, Macmillan, 1938,
chs0 7, 9-11,"
Kleiner, George, International Monetary Economics, Urbana, University
of Illinois, tentative/ 1953.
Viaer, Jacob, Studies in the Theory of International Trade„ New York
Harper, 1937Articles %
Angell, Jo Wo, "Equilibrium in International Trades the United States,
1919-26/' QJE, LXII, 1928, pp. 388=433.
Badger, D. Go, "The Balance of Payments: A Tool of Economic Analysis,"
IMF—SP, I, Sept* 1951.
Baldwin, R. E., "Equilibrium in International Trade: A Diagrammatic
Analysis," QJE, LXII, Nov. 1948,
Bloomfield, A. I., "The Mechanism of Adjustment of the American Balance
of Payments, 1919=29," QJE, LVII, May 1943, PP* 333=77Haberler, G., "The Market for Foreign Exchange and the Stability of the
Balance of Payments—A Theoretical Analysis," Kyklos, III, No0 3,
1949.
Malach, V. W., "The Mechanism of Adjustment in Canada's Balance of
Payments, 1921-29," CJE+PS, XVII, Augo 1952, pp. 303-21.
Nurkse, Ragnar, "Conditions of International Monetary Equilibrium"
/Essays in International Finance/. Princeton, University Press,
Pigou, A. C , "Disturbances of Equilibrium in International Trade," EJ,
XXXIX, 1929, ppo 344-56.
Triffin, Ro, "National Central Banking and the International Economy,"
in "International Monetary Policies" /Postwar Economic Studies
No. 77. Washington, FRBd., 1947, pp. 46-810
Bo
Exchange Rates in Theory and Policy
Bookso
Buchanan, N. S. and Fo A„ Lutz, Rebuilding the World Economy, New York,
20th Century Fund, 1947<> ch - FI
*
""
Crump, Norman, The ABC of the Foreign Exchanges. London, Macmillan,
14th eda, 1951, chso 9-13.
Harris, S. E. /e&^J, Foreign Economic Policy for the United States9 New
York, McGraw-Hill, 1948, chs0 by Haberler and Hansen.
Keynes, J. M., Monetary Reform0 New York, Harcourt, Brace, 1924, ch. 5.
Nurkse, Ragnar, International Currency Experience0 Geneva, League of
Nations, 1944, ch. 5*
Robinson, Joan, Essays in the Theory of Employment. Oxford, Blp,ckwell,
2d ed., 1947, Part 3*
5
Southard, Fo Ac, Foreign Exchange Practice and -Policy. New York, McGrawHill, 1940, chs. 2-3.
Articles:
Alexander, So So, "Effects of a Devaluation on a Trade Balance," IMF—-SP,
II, April 1952, pp0 263-78o
Balogh, To, "Exchange Depreciation and Economic Readjustment," RE+S, XXX,
Nov. 1948.
Bernstein, E. M., "Some Economic Aspects of Multiple Exchange Rates,"
IMF—SP, I, Sept. 1950, pp0 293-314* Bloomfleld, A 0 I., "Foreign Exchange Rate Theory and Policy," in The New
Economics /ed0 by So E. Harris/. New York, Knopf, 1947, PP° 293-314„
Brown, A, J0, "Trade Balances and Exchange Stability," OEP, NOo 6, April
1942, pp0 57-75• Reprinted in Oxford Studies in the Price MechanismOxford, Clarendon Press, 1951°
Dehem, R 0 , "Exchange Rate Policy: Experience and Theory Reconsidered,"
EI, V, Aug, 1952, pp. 559-80Despres, Eo and C. Po Kindleberger, "Methods of Adjustment in International
Payments—The Lessons of Postwar Experience," AER, Supplement, v0 42,
May 1952.
Ellis, H. S., "The Equilibrium Rate of Exchange," in Explorations in
Economicso New York, McGraw-Hill, 1937°
Ellsworth, Pc T., "Exchange Rates and Exchange Stability," RE+S, XXXII, .
Jan.. 1950, pp« 1-15.
Gardner, W* Ro and S. C- Tsiang, "Competitive Depreciation," IMF--SP, II,
Nov. 1952! ppo 399-406Gilbert, J- C-, "Exchange Rate Adjustments," YBE+SR, II, Jan. 1950,
pp. 1-15.
Haberler, G., "Currency Depreciation and the Terms of Trade," Sonderdruck
aus Lagler-Messner* Wirtschaftliche Entwicklung und 'Sociale OrdnungVienna, 1952.
Hall, No Fo, "Foreign Exchanges, 1932-37/' in Britain in Recovery.
London, Pitman, 1938, pp0 147-61,
Harberger, A. C , "Currency Depreciation, Income and the Balance of Trade,"
JPE, LVIII, Febo 1950, pp* 47-60.
* Henderson, Sir Hubert, "The Function of Exchange Rates," OEP, I, Jan.
1949> PPo 1-17; comment by Ra Go Hawtrey, ibid., June 1949,
pp. 145-58.
Hinshaw, R., "Currency Appreciation as an Anti-Inflationary Device," QJE,
LXV, Nov. 1951, pp. 447-62.
Kennedy, Charles, "Devaluation and the Terms of Trade," RES, XVIII, No. 45,
1949.50, pp. 28-41o
--Laursen, S. and L. A. Metzler, "Flexible Exchange Rates and the Theory of
Employment," RE+S, XXXII, Nov. 1950, pp. 281-99*
* Meade, J. E 0 , "Bretton Woods, G»AoT.T0, and the Balance of Payments° A
Second Round?" 3BR, Dec, 1952, pp. 3-220
* Polak, J. J., "Exchange Depreciation and International Monetary Stability,"
RE+S, XXIX, Aug. 1947, pp. 173-82.
Robinson, Joan, "Exchange Equilibrium," EI, III, May 1950, ppQ 396-416.
Stackelberg, H. von, "The Theory of Foreign Exchanges under Perfect
Competition," IEP, I, Dec 1951o
Stolper, W., "The Multiplier, Flexible Exchanges and International
Equilibrium," QJE, LXIY, Nov0 1950, pp. 559-820
6
C o Exchange and Trade Controls
Books Andersen, P, No, Bilateral Exchange Clearing Policy» Copenhagen,
Einar Munksgaard, 1946.
Einzig, Paul, Exchange Control» London, Macmillan, 1934.
Ellis, Ho S., Exchange Control in Central Europe. Cambridge, Harvard
University Press, 1941.
Evitt, H. E., Exchange and Trade Control in Theory and Practice. London,
Pitman, 3rd ed., 1952.
Gordon, M. S., Barriers to World Trade, New York, Macmillan, 1941.
Haberler, G. and M. Hill, Quantitative Trade Controls0 Geneva, League
of Nations, 1943.
Haight, Fo A., French Import Quotas. London, King, 1935°
Heuser, H., Control of International Trade. Philadelphia, Blakiston,
1939.
Mason, E a So, Controlling World Trade„ New York, McGraw-Hill, 1946.
Mendlicott, W„ No, Economic Blockade0 London, H«M0SoOQ, 1951*
Viner, J., Trade Relations Between Free Market and Controlled Economies.
Geneva, League of Nations, 1945°
Wu, Yuan-Li, Economic Warfare. New York, McGraw-Hill, 1952°
Articles:
Alexander, S. So, "Devaluation v. Import Restrictions as an Instrument
for Improving Foreign Trade Balance," IMF—SP, I, April 1951,
PP. 379-96.
Balogh, To, "The Drift Towards a Rational Foreign Exchange Policy,"
Economica, VII, March 1940, ppQ 1-26. Reprinted in Studies in War
Economics. Oxford, Blackwell, 1947.
Clay, Sir Henry, "The Case for Exchange Controls," FA, July 1950.
Clayton, G., "The Development of British Exchange Control, 1939-45,"
CJE+PS, XIX, May 1953, PP* l6l-73Ellis, Ho S., "Exchange Control and Discrimination," AER, v. 37, Dec0
1947, PPo 877-88o
Fleming, J. M., "On Making the Best of Balance-of-Payment Restrictions
on Imports," EJ, LXI, March 1951, pp. 48-71.
Gibbons, A. 0., "Foreign Exchange Control in Canada, 1939-51," CJE+PS,
XIX, Feb. 1953.
Haberler, G., "The Political Economy of Regional or Continental Blocs,"
in Postwar Economic Problems ^ed. by S. E. Harris/. New York,
McGraw-Hill, 1943.
Henderson, A., "The Restriction of Foreign Trade," MS, Jan. 1949, pp* 12-36.
Henderson, Sir Hubert, "The Emerging Pattern of International Trade," in
The Pattern and Finance of Foreign Trade. London, Europa, 1949.
Holzman, F„, "Discrimination in International Trade," AER, v. 39, Dec.
1949.
* Kahn, R. F., "International Regulation of Trade and Exchanges," in
Banking and Foreign Trade. London, Europa, 1952.
Meade, J. E., "The Removal of Trade Barriers--the Regional v. the Universal
Approach," Economica, XVIII, May 1951, PP* 184-98.
Mikesell, R. F., "Discrimination and International Trade Policy," RE+S,
XXXII, Aug. 1950, pp. 227-34.
7
O'Brien, Lo L , "The Technique of Uo Ko Exchange Control," in The
Pattern and Finance of Foreign Trade. London, Europa, 1949*
Shannon, H. A., "The British Payments and Exchange Control System,"
QJE, LXIII, May 1949, PP* 212-37°
Simkin, C. G. P., "Some Aspects and Generalizations of the Theory of
Discrimination," RES, XV(l), No. 37, 1947-58.
Smith, A. Ho, "Evolution of Exchange Control," Economica, XVI, Aug.
1949, PP. 243-8o
Triffin, R 0 , "Exchange Control and Equilibrium," in Foreign Economic
Policy for the United States. New York, McGraw-Hill, 194«, ch. 23.
Do
International Capital Movements and the Transfer Problem
Books 1
Bloomfield, Ac I., Capital Imports and the American Balance of Payments,
1934-39/ Chicago, Uo of Chicago.Press, 1950.
Fanno, M., Normal and Abnormal International Capital Transfers.
Minneapolis, U. of Minnesota Press, 1939°
Iversen, Co, Aspects of the Theory of International Capital Movements.
London, Humphrey Milford, 1935°
Kindleberger, Co P., International Short-Term Capital Movements. New
York, Columbia U. Press, 1937League of Nations, The Course and Control of Inflation. Princeton, LN,
1946.
Economic Stability in the Post-War World. Geneva, LN,
1945, ch. 13.
Marsh, D. B., World Trade and Investment0 New Yoi;k, Harcourt, Brace, 1951°
Nurkse, Ragnar, Internationale Kapitalbewegungen. Vienna, Springer, 1935°
United Nations, International Capital Movements during the Inteir-War
Period. Lake Success, Department of Economic Affairs, 1949*
Viner, Jacob, Canada's Balance of International Indebtedness, 1900-13°
Cambridge, Harvard U. Press, T924o
White, H. Do, The French International Accounts, 1880-1913, Cambridge,
Harvard U. Press, 1933•
Williams, J. H., Argentine International Trade under Inconvertible Paper
Money, 188O-I9OO0 Cambridge, Harvard U 0 Press, 1920o
Wilson, Roland, Capital Imports and the Terms of Trade, Melbourne,
"Melbourne U. Press, 1931°
Articles:
Cassel, G*, "The International Movements of Capital^" in Foreign
Investments. Chicago, U 0 of Chicago Press, 1928.
Currie, L., "Domestic Stability and the Mechanism of Trade Adjustment to
International Capital Movements," in Explorations in Economics„ New
York, McGraw-Hill, 1936, pp. 46-560
Gottlieb, Manuel, "The Reparations Problem Again," CJE+PS, XVI, Feb. 1950,
pp. 22-41.
Hoffman, M. Lo, "Capital Movements and International Payments in Post-war
Europe," RE+S, XXXI, Nov. 1949, pp. 26l~5<,
Martin, K., "Capital Movements, the Terms of Trade, and the Balance of
Payments," Bull., 0IS, vol. 11, May 1949.
8
Metzler, L. A., "A Multiple Country Theory of Income Transfers," JPE,
LIX, Feb. 1951, pp. 14-29.
Suviranta, Br*, "Reparation Payments in Kind," Economica, XVII, Nov.
1950, pp. 423-30.
"War Reparations and Trade Policy," Kyklos, V, No. 4,
1953, PP. 331-50.
IV o INTERNATIONAL FINANCIAL EXPERIENCE
A.
The International Gold Standard in Theory and Experience
Books:
Beach, E. F., British International Gold Movements and Banking Policy,
l88l-1913o Cambridge, Harvard U. Press, 1935Brown, Jr., Wo A 0 , The International Gold Standard Reinterpreted, 19141934. New York, National Bureau of Economic Research, 1940o
Cassel, Go, Money and Foreign Exchanges After 1914. London, Macmillian,
1923.
Ellsworth, P. T., International Economics0 New York, Macmillan, 1938,
chs. 9-10.
Graham, F. Do and Co R. Whittlesey, Golden Avalanche„ Princeton,
Princeton IT. Press, 1939Gregory, Sir Theodore, The Gold Standard and Its Future„ New York, Dutton,
3rd ed., 1935Hardy, C. 0., rs~ There Enough Gold? Washington, Do C , Brookings, 19360
Harrod, R. F., International Economics0 Cambridge, Cambridge U. Press,
1939.
Hawtrey, R. G., The Gold Standard in Theory and Practice. New York,
Longmans, Green, 5th edo, 1947«
Keynes, J. M., A Treatise on Money. New York, Harcourt, Brace, 1930,
vol. 2, pp. 289-332.
A Tract on Monetary Reform. London, 1923, PP° 167-76.
Macmillan Committee, Report of the Committee on Finance and Industry,
Cmdo 3897o London, H.M.S.O., 1931Robertson, D. H., Money. London, Nisbet, rev, ed., 1948, ch. 4.
Warren, G. F. and F, A. Pearson, Gold and Prices„ New York, Chapman &
Hall, 1935.
Williams, J. H., Post-War Monetary Plans. (Blackwell JecL ), Parts III-IV
and VI.
Articles 1
Balogh, T., "Some Theoretical Aspects of the Gold Problem," Economica,
(new series) IV, 1937, PP« 274-94.
Bernstein, Eo M., "Exchange Rates Under the Gold Standard," JPE,
XLVIII, June 1940, pp. 345-56.
Carr, R. M., "The Role of Price in the International Trade Mechanism,"
QJE, XLV, 1931, PPo 710-19o
Gilbert, J. C , "The Mechanism of Interregional Redistributions of
Money," RES, V, 1938, pp. 187-94.
Hawtrey, R. G., "The Gold Standard and the Balance of Payments," EJ,
XXXVI, 1926, pp. 50-68.
9
Knox, F. A., "The International Gold Standard Reinterpreted," CJE+PS,
x, 1944, P P o 502.7.
Lutz, F. A 0 , "A Note on Gold Movements in the Present International
Monetary System," RES, V, 1937, pp. 66-72,
Menton, Bo, "Theories of Adjustment of the Balance of Payments under
Fixed Exchanges," Journal of Statistical & Social Inquiry of
Society of Ireland, XVIII, 1947-480
Whale, Po B., "The Working of the Pre-War Gold Standard," Economica,
(new series), IV, Feb, 1937, pp. 18-32.
B.
Financial Problems and Policies in the Interwar Years
Books:
* Arndt, Ho W 0 , The Economic Lessons of the Nineteen Thirties„ London,
Oxford U 0 Press, 1944„
Benham, F* Co, Great Britain under Protection„ London, Macmillan, 1941.
Beyen, Jo W 0 , Money in a Maelstrom. New York, Macmillan, 1949Bresciani-Turroni, C , The Economics of Inflations ;A Study of Currency
Depreciation in Post'-War Germany „ London, Allen & Unwin, 1937*
Copland, D. B,, Australia in the World Crisis, 1929*1933. London,
Macmillan, 1934.
Dulles, E. L., The French Franc, 1914-28a New York, Macmillan, 1929Feis, Herbert, The Diplomacy of the Dollar 1 First Era, 1919-32.
Baltimore, Johns Hopkins Press, 1950°
Gayer, A 0 D. /edJL7, The Lessons of Monetary Experience. New York, Farrar
& Rinehart, 1937Gilbert, Milton, Currency Depreciation and Monetary Policy. Philadelphia,
U. of Pennsylvania Press, 1939*
Graham, F. D., Exchange, Prices, and Production in Hyper-Inflation
Germany, 1920-23» Princeton, Princeton U. Press, 1930"
Guillebaud, C. W., The Economic Recovery of Germany, 1933-38. London,
Macmillan, 1939°
Hall, N. F., The Exchange Equalisation Account. London, Macmillan, 1935Hecksher, Eli, Sweden's Monetary History, 1914-2$. New Haven, Yale U.
Press, 1930.
Johnson, Go G., The Treasury and Monetary Policy, 1933-38. Cambridge,
Harvard U. Press, 1939Lewis, W. Arthur, Economic Survey, 1919-39* London, Allen & Unwin, 1950c
Montgomery, A., How Sweden Overcame the Depression„ Stockholm, Bonniers,
1938.
Morton, W. A., British Finance, 1930-40. Madison, Uo of Wisconsin Press,
1943.
Myers, M., Paris as a Financial Centre. New York, Columbia U. Press, 19360
Northrup, M. B., Control Policies of the Reichsbanko New York, Columbia
U. Press, 193B^
* Nurkee, Ragnar, International Currency Experiences Lessons of the Interwar Period. Geneva, League of Nations, 1943.
Papi, G. U., The First Twenty Years of the Bank for International
Settlements, Rome, Bancaria, 1951°
Pigou, A. C , Aspects of British Economic History, 19l8-25o London,
Macmillan, 1947, Part 5.
Poole, K. Eo, German Financial Policies, 1932-390 Cambridge, Harvard U.
Press, 1939.
10
Robbins, L. C , The Great Depression, London, Macmillan, 1934.
Roepke, Wilhelm, International Economic Disintegration, New York,
Macmillan, 2d ed*, 1951.
Rogers, Jo H., The Process of Inflation in France, 1914-36. New York,
Columbia U0 Press, 1929.
Shepherd, H. L., The Monetary Experience of Belgium, 1914-36. Princeton,
Princeton U. Press, 1936*
Stabinger, A., Die Franzosiche Wahrungspolitik von der Stabilisierung
bis zum Ausbruch des zweiten Weltkriegs, 1926-30* Berne, Francke,
I94ST
Stolper, G*, The German Economy I87O-I94Q0 London, Allen & Unwin, 1940.
Thomas, Brinley, Monetary Policy and Crises. London, Routledge, 1936.
Traynor, D. Eo, International Monetary and Financial Conferences in the
Interwar Period. Washington, D. C , Catholic U. Press, 1949»
Waight, Leonard, The History and Mechanism of the Exchange Equalisation
Account. Cambridge, Harvard U. Press, 1939»
Williams, J. Ho, Post-War Monetary Plans. Oxford, Blackwell, 4th ed.,
1949o
Wolfe, Martin, The French Franc Between the-Wars, 1919-39. New York,
Columbia U. Press, 1951.
Young, J. P., The International Economy. New York, Ronald, 3rd edo, 1951*
Articles:
Bloomfield, A 0 Io, "Operations of the American Exchange Stabilization
Fund," RE+S, XXVI, May 1944, pp. 69-87o
Comstock, Alzada, "The British Exchange Equalization Account," AER, v. 23,
1933, pp. 608-21.
Currie, L., "The Failure of Monetary Policy to Prevent the Depression of
1929-32," JPE, XLII, April 1934, pp0 U5-77.
Ehrman, H. W., "The Blum Experiment and the Fall of France," FA, Oct.
1941.
Hardy, Co 0., "The Price Level and the Gold Problem: Retrospect and
Prospect," AER, Supplement, v, 31, Feb. 1941.
Horsefield, J. K., "Currency Devaluation and Public Finance, 1929-37,"
Economica, VI (new series), Aug, 1939, PP- 3§2-44.
Iversen, C , "The Importance of the International Margin," in Explorations
in Economics. New York, McGraw-Hill, 1936^
Kalecki, M., "The Lesson of the Blum Experiment," EJ, LXIV, March 1938.
Marjolin, R., "Reflections on the Blum Experiment," Economica, V (new
series) 1938, pp. 177-92.
Myers, M. G., nThe League Loans," Political Science Quarterly, LX,
Dec0 1945, PPo 492-526.
Polak, J. J., "European Exchange Depreciation in the Early Twenties,"
Econometrica, April 1943Pumphrey, L, M., "The Exchange Equalization Account of Great Britain,
1932-39," AER, v. 32, 1942, pp. 803-16.
Schwob, Po A., "French Monetary Policy and Its Critics," Economica, II
(new series), 1935, pp0 277-97; comment by R0 G. Hawtrey, and reply,
ibid., Ill, 1936, pp. 61-77.
Wood, G. L., "Some Lessons of the American Experiment," ER, Supplement,
Apr. 1939, PP. 119-34o
11
Co
International Monetary Organization and Policy in the Postwar Period
1. The International Monetary Fund
Books:
Bresciani-Turroni, C , Economic Policy for the Thinking Man0 London,
Hodge, 1950, pp. 243-70.
Coulborn, W. A. L,, A Discussion of Money0 London, Longmans, Green,
1950, pp. 291=302.
Crump, Norman, The ABC of Foreign Exchanges, London, Macmillan, 1950,
pp0 200-39.
Federal Reserve Board, "International Monetary Policies" /Postwar
Economic Studies No. jj\
Washington, October 1947Harris, S. E Q /ed./, Foreign Economic Policy for the United States.
Cambridge, Harvard U. Press, 1949 > Part V.
Harrod, R0 F., A Page of British Folly, London, Macmillan, 19460
Hawtrey, R. G., Bretton Woods for Better or Worse, London, Longmans,
Green, 1946.
Marsh, D. B., World Trade and Investment„ New York, Harcourt, Brace,
1951, PP. 425-44o
Mikesell, R. F., United States Economic Policy and International
Relations. New York, McGraw-Hill, 1951°
Tew, Brian, International Monetary Cooperation, 1945-52Q New York,
Longmans, Green, 1952o
Williams, J. H., Post-War Monetary Plansa Oxford, Blackwell, 4th edo,
1949°
Articles 1
Arndt, H. W., "The IMF and the Treatment of Cyclical Balance of
Payments Disequilibria," ER, XX, DecQ 1947, pp. 186-97°
Bareau, Paul, "Is It Good-Bye to Bretton Woods?" 3BR, March 1952,
pp. 3-18.
Behrman, J. N., "A Suggested Amendment to the IMF Charter," EJ, LXIII,
June 1953, PP. 471-7.
* Haberler, G., "Reflections oh the Future of the Bretton Woods System,"
AER, Supplement, v. 43, May 1953, pp. 8l-95o
Hexner, Ervin, "The General Agreement on Tariffs and Trade and the
Monetary Fund," IMF--SP, I, April 1951, PP- 432-64.
Kindleberger, C. P., "Bretton Woods Reappraised," International
Organization, V, Feb. 1951, pp. 32-47.
Lerdau, E., "The Purposes of the International Monetary Fund," ER, XXIX,
May 1953, PP. 63-72o
* Meade, J. E Q , "Bretton Woods, G.A.ToT0, and the Balance of Paymentss a
Second Round?" 3BR, Dec. 1952, pp0 3-220
Mikesell, R* F., "The International Monetary Fund, 1944-49," IC, Nov.
1949.
Mohammad, A. A. F., "Some Aspects of Exchange Rate Policies of the
IMF," Pakistan Economic Journal, III, Sept. 1951, pp. 48-59.
Rao, B. S., "Exchange Adjustments and the IMF," EI, III, Nov0 1950,
pp. 1074-82o
Scammell, W. M., "International Economic Co-operation and the Problem
of Full Employment," in Year Book of World Affairs. London, Stevens,
1952, pp. 222-45o
"
12
Schmidt, Wilson, "Venezuela, the IMF and Multiple Exchange Rates,"
Inter-American Economic Affairs, VII Summer 1953, PP° 48-63»
2.
The International Bank for Reconstruction and Development
Books:
Alexandrowicz, Co H., International Economic Organizations0 New York,
Praeger, 1953, ch. 13IoBoRoDo, Development Corporations and Related Institutions in Selected
Countries /special study under the direction of F0 Wc Fetter„/
Washington, 1951Mikesell, R. F.; United States Economic Policy and International
Relations o New Yor^:, McGraw-Hill, 1951, chs. 12-13 0
Patterson, G. and Jo No Behrman, Survey of United States International
Financea Princeton, Princeton U. Press, 1949 (pp. 107-13); 1950
'(pp.- 140-9); 1951 (PP. 119-27); 1952 (pp. 120-7)) 1953 (148-66).
Articles;
Basch, Antonin, "Financing of Economic Development and the International
Bank," Proceedings of the Acad, of Polo Scio, XXV, Jan„ 1952.
"International Bank for Reconstruction and Development,"
IC, No. 455, Nov. 1949.
* Black, Eugene, "Policies and Operations of the World Bank," LBR, July
1953, PP» 17-32.
,
"The World Bank at Work," JA, April 1952, pp. 402-11.
de Kock, M< H., "International Bank for Reconstruction and Development,"
SAJE, v. 12, Sept. 1944, pp. 223-32.
Fellner, W 0 Jo, "The Commercial Policy Implications of the Fund and the
Bank," AER, v. 35, May 1945„
Kahn, R. Fo, "The International Bank for Reconstruction and Development,"
EJ, LIX, Sept. 1949, PPo 445-7o
Kindleberger, Co P., "Bretton Woods Reappraised," International
Organization, V, Feb. 1951«
Knorr, Klaus, "The Bretton Woods Institutions in Transition," International
Organization, II, No. 1, Feb. 1948, pp. 19-38.
McCloy, J. J., "The Lesson of the World Bank," FA, XXVII, July 1949,
pp. 551-60.
Meyer, Eugene, "International Bank for Reconstruction and Development,"
Proceedings of the Acad, of Polo Scio, XXII, Jan. 19470
Pehle, J. Wo, "The Bretton Woods Institutions," Yale Law Journal, LV,
August 1945o
Smithies, A., "The International Bank for Reconstruction and Development,"
AER, v. 34, Dec. 1944, pp0 785-97Weyl, No and M. JQ Wasserman, "The International Bank, an Instrument of
World Economic Reconstruction," AER, v. 37, March 1947, pp0 92-1060
a
1.
2.
34.
*
IQBOR.D,—Special Mission Reports:-
The Basis of a Development Program for Columbia (Washington, 1950).
fee Economic Development of Guatemala, (Washington, 1951).
The Economy of Turkey (Washington, 1951).
Report on Cuba (Washington, 1951)-
13
5- The Agricultural Development of Uruguay (Washington, 1951)•
6o The Agricultural Economy of Chile (Washington, 1952)«,
7. The Economic Development of Iran (Baltimore, John Hopkins Press, 1952).
8. Surinam--Recommendations for a Ten-Year Development Program
(Baltimore, 1952).
9° The Economic Survey of Ceylon (Washington, 1952).
10. The Economic Development of Jamaica (Baltimore, 1952).
11. The Economic Development of Ceylon (Baltimore, 1953)12. The Economic Development of Nicaragua.(Baltimore, 1953)•
13o The Economic Development of Mexico (Baltimore, 1953)•
14. A Beport on the Economic Development of British Guiana (Baltimore 1953)*
D.
IoT.Oo and G0AoToTo
Books°
Brown, W0 A., The United States and the Restoration of World Trade.
Washington, Brookings, 1950.
Marsh, D. B 0 , World Trade and Investment. New York, Harcourt, Brace,
1951, chs. 27-29.
WilcOx, Clair, A Charter for World Trade0 New York, Macmillan, 1949.
Articles 1
Arndt, H* W., "The International Trade Charter and the Principle of NonDiscrimination," EI, III, Aug. 1950, pp. 627-460
Bidwell, P. W. and W. Diebold, Jr 0 , "The United States and International
Trade Organization," IC, March 1949.
Balogh, T., "Britain and the Geneva Tariff Agreements," Bull,, OIS, IX,
Dec. 1947, pp. 417-29.
"The Charter of International Trade," Bull., QIS, IX, Mar.~
Apr. 1947.
Beckett, Grace, "The World Trade Charter and the Geneva General
Agreement," SEJ, XVI, Jan. 1950, pp. 340-9.
Brown, W. G., "General Agreements on Tariffs and Trade," cho 13, in
. Foreign Economic Policy for the United States, Cambridge, Harvard
x
U. Press, 1949, PP. 254-70.
Crowley, N. G. and C.Po Haddon-Cave, "The Regulation and Expansion of
World Trade and Employment," ER, XX, June 1947o
* Diebold, Jr c , William, "The End of IoT.0o" /Essays in International
Finance No. l6/. Princeton, Princeton Uo Press, Oct. 1952.
Feis, Herbert, "The Geneva Proposals for an International Trade Charter,"
International Organization, II, Feb. 1948, pp. 39-520
Gordon, M. S. and others, "Problems of the I.T.0o" AER, v. 39, May 1949,
pp. 241-79.
Hawkins, H. C , "Problems Raised by the International Trade Organization,"
ch. 14, in Foreign Economic Policy for the United States, pp0 271-86.
* Henderson, Sir Hubert, "A Criticism of the Havana Charter," AER, v. 39,
June 1949 PP. 605-17; comments by P. T. Ellsworth, ibid., Dec. 1949,
pp. 1268-73.
Hexner, Erwin, "The General Agreement on Tariffs and Trade and the
Monetary Fund," IMF—SP, April 1951, pp. ,432-64.
Heymann, H., "The G.A0T0T. at Crossroads," Skandinaviska Banken, QR,
July 1951, pp. 58-64.
14
Knorr, K. Eo, "The Functions of an International Trade Organization:
Possibilities and Limitations," AER, v0 37, May 1947Meade, J0 E., "Bretton Woods, Havana, and the U. K. Balance of Payments,"
LBR, Jan0 1948, pp. 1-18.
Mikesell, R. F., "Discrimination and International Trade Policy," RE+S,
XXXII, Aug, 1950, pp. 227,
• • ,-, A ';, . "Quantitative and Qualitative Exchange Restrictions
under the ITO Charter," AER,.v. 37, June 1947, pp. 361-68.
Thomas, Brinley, "Britain and the International Trade Organization,"
World Affairs, Jan. 1948, pp. 23-9o
Urq-uhart, M. C , "Post-war International Trade Arrangements," CJE+PS,
XIV, Aug. 1948, pp. 373-85.
Viner, J., "Conflicts of Principle in Drafting a Trade Charter," FA,
July 1947, pp. 612-28.
* Webb, Leicester, "The Future of International Trade," World Politics,
V, July 1953, PP. 423-41o
Wilcox, Clair, "Trade Policy for the Fifties," AER, Supplement, v. 43,
May 1953, PP. 61-70.
"The Promise of the World Trade Charter," FA, April 1949.
E.
European Payments Union
Books °o
* Diebold, William, Trade and Payments in Western Europe: A Study in
Economic Cooperation, 1947-51° New York, Harper, 1952o
Hinton, Deane R., The European Payments Union1 A Study of Its Origins,
Structure and Functioning0 Washington, Department of State, 1952.
Marjolin, Robert, Europe and the United States in the World Economy.
Durham, Duke U. Press, 1953*
OEEC, Europe - the Way Ahead 1 Towards Economic Expansion and Dollar
Balance. Paris, Dec. 1952.
Patterson, Gardner and associates, Survey of United States International
Finance, 1952. Princeton, Princeton U. Press, 1953°
Articleso
Bachmann, Hans, "La prolongation de 1'Union Eurqpeene de Paiements,"
Revue dfEconomie Contemporaire, Feb. 1952o
Banker, The, current iSBueSo
Carli, Guido, "EQP.U.*s Problems," Banca Nazionale del Lavoro, QR, IV,
No. 19, Oct.-Dee, ,.1951, PP. 179-87.
Economist, The, current issues.
Ekker, M. H., "Equilibrium of International Trade and International
Monetary Compensations," Weltwirtschaftliches Archiv, v. 64, No. 2,
1950, pp. 204-50.
Federal Reserve Bank of New York, "Three Years of the European Payments
Union," Monthly Review of Credit & Business Conditions, Aug. 1953,
pp. 117-22.
Fleming, J. M., "Regional Organization in the Sphere of Trade and
Payments--Western Europe and the Sterling System," AER, Supplement,
v. 42, May 1952.
15
Heuss, Ernst, "Promotion of the Balance-of-Payments Equilibrium through
Expansion of the EPU Mechanism" [in German/, Aussenwirtschaft,
vol. 8, March 1953, pp. 42-520
Hinshaw, R. and A, 0 0 Hirchman, "The European Payments Union," RE+S,
XXXIII, Feb, 1951, pp. 49-59•
Hoffman, M. L., "European Payments—An American View," LBR, July 1952,
pPo 13-27.
Jung, Emil, "Convertibility and European Payments Union," /in German/
Aussenwirtschaft, v. 8, March 1953> pp. 31-41.
Kahn, R. P., "The European Payments Union," Economica, XVII, Aug, 1950.
Mutual Security Agency, "The European Payments Union." Washington, 1952.
Nur-Ul-Matin, A 0 FoM 0 , "European Payments Union," Pakistan Economic
Journal, II, No. 4, June 1951.
Pietranera, G., "The Crisis in the Italian Balance of Trade," Banca
Nazionale del Lavoro, QR, Jan.-March 1953> pp. 44-6l.
Posthuma, S 0 , "The European Payments Union and Convertibility," Journal
of Finance and Credits, ^rankfurt/Main/o Dec. 1952.
"Some Remarks on the European Payments Union," Adapted
from April 1952 issue of De Economist0 Haarlem, Netherlands, 1952,
21 pp.
"A Note on Convertibility," EI, VI, 1953<
Sargent, J. A., "EPU and Future Sterling Policy," Bull., OIS, XII,
Nov. 1950.
Schloss, H. H., "The European Payments Union," SEJ, XVII, April 1951*
pp. 465-69.
Triffin, Robert, "Monetary Reconstruction in Europe," IC, No. 482,
June 1952.
"Possibility of Effecting Multilateral Compensation
Settlements between Latin American and European Countries through
the EPU. UN, Economic Commission for Latin America, 1953 ^/I/CN
12/2997.
Van Houtte, J., "La Belgique et l'ordre monetaire international,"
Bulletin Bimestrial, Soc. Beige d*Etudes et d'Expansion JjLlegeJ,
Noc 155, Mar.-April.1953, pp. 234~£0o
•*
*
•*
16
PART III
V.
THE PROBLEM OF WORLD IMBALANCE
A.
The Changing Structure and Pattern of World Trade
Books:
Brown, A c J., Industrialization and Trades The Changing World Pattern
and the Position of Britain. London, RoIoIoA0, 1943*
E.C.Eo, Economic Survey of Europe in 1952. Geneva, 1953G.A,ToT.^ 'International Trade:, 1952^ Geneva, GoA,T.T0, Secretariat,
June 1953.
Ginsburg, N. S,, Japanese Prewar Trade and Shipping in the Oriental
Triangle. Chicago, U. of Chicago Press, 1949Hilgerdt, Folke, Industrialization and Foreign Trade. Geneva, League
of Nations, 1945.
The Network of World Trade0 Geneva, League of Nations,
1942.
Hirschman, A. 0., National Power and the Structure of Foreign Trade,
Berkeley, TJ0 of California Press, 1943*
Schlote, Werner, British Overseas Trade from 1700 to the 1930's. Oxford,
Blackwell, 1953United Nations, A Study of Trade between Latin America and Europe.
Geneva, Department of Economic Affairs, 1953.
Wright, Co M., Economic Adaptation in a Changing World Market. Copenhagen,
Munksgaard, 1939Articles 1
Cairncross, A. K.,and J. Faaland, "Long-Term Trends in Europe1 s Trade,11
EJ, LXII, March 1952, pp. 25-34o
HanBson, Karl-Erik, "A General Theory of the System of Multilateral
Trade/1 AER, v 0 42, March 1952, pp. 59-68.
Hashem, Z., "The Trade Pattern of Developing Countries," L*Egypte
Contemporaine, XLIII, Oct. 1952.
Hilgerdt, Folke, "International Trade under Structural Disequilibrium,"
QJE, LXVT, Nov. 1952, pp. 522-32.
"The Case for Multilateral Trade," AER, Supplement,
XXXIII, March 1943, pp. 175-880
Hirschman, A* 0., "The Commodity Structure of World Trade," QJE, LVTI,
1943, PPo 565-95.
Koo, A. Y. C. and C. C. Liang, "The Role of Japan in the Intraregional
Trade of the Far East," RE4-S, March 1953.
Tyszynski, H., "World Trade in Manufactured Commodities, 1899-1950,"
MS, XIX, Sept. 1951, PP. 272-304.
IT
The Problem of International Balance
Booksc
Aftalion, A., Lfequilibre dans les relations economiques inter nationales,
Paris, Loviton, 1937International Economic Association, The Problem of Long-Term International
Balanceo ISSB, Spring 1951Krishna, V\ S., International Economic Cooperation. Madras, U0 of
Madras, 19520
Articless
Copland, Do B., "Australia and International Economic Equilibrium," EI,
IV, Feb. 1951. PP° 45-59Harrod, R. Fo, "Imbalance of International Payments," IMF--SP, III,
April 1953•
Henderson, Sir Hubert, "The International Economic Problem" /Stamp
Memorial Lecture/* London, Oxford U. Press, 1946.
Kindleberger, Co P D , "International Disequilibrium," CJE+PS, XVI, Nov.
1950, pp0 529-37.
Marjolin, Robert, "Policy Requirements for Balance in International
Trade and Finance," Proceedings of the Acado of Polo Scio, XXV, May
1953, pp. 102-16.
Mikesell, R. F 0 , "International Disequilibrium in the Post-War World,"
AER, v. 39, June 1949, PP° 6l8-45*
Nurkse, Ragnar, "Domestic and International Equilibrium," in The New
Economicso New York, Knopf, 1947, ch. 21.
"International Monetary Policy and the Search for
Economic Stability," AER, Supplement, v„ 37, May 1947, pp. 569-80.
Papi, G U., "Some of the Causes of International Economic Disequilibrium
and Some Remedies," EI, III, May 1950, ppQ 337-66„
Piettre, A., "Les desequilibres permanents de lfeconomie allemande,"
Revue d'Eeon. Politique, May-June 1950o
Simkin, C. G. F., "New Zealand and International Economic Equilibrium,"
EI, IV, Feb. 1951, PP. 123-34o
Foreign Investment as a Corrective of World Imbalance
Bookso
Buchanan, No S., International Investment and Domestic Welfare. New York,
Holt, 1945.
and Fo A. Lutz, Rebuilding the World Economy. New York,
Twentieth Century Fund, 1947.
Cairncross, A. K., Home and Foreign Investment, l870-1913o Studies in
Capital Accumulationo Cambridge, Cambridge U. Press, 1953Harrod, R. F., International Economics. London, Nisbet, 1948, ch. 4.
Hobson, Co K., The Export of Capital. London, Constable, 1914.
Marsh, D. B., World Trade and Investment. New York, Harcourt, Brace,
1951 OEEC, Report on International Investment. Paris, 1950.
Intra-European Investments. Paris, 1951*
Investment in Overseas Territories in Africa, South of the Sahara,
Paris, 1951-
18
Royal Institute of International Affairs, The Problem of International
Investment0 London, Oxford University Press, 1937Articleso
Balogh, T 0 , "Some Theoretical Problems of Post-War Foreign Investment
Policy," OEP, No. 7, March 1945°
Bryce, R, B., "International Aspects of an Investment Program," ctu 21^
in Postwar Economic Problems /e&. by So Eo Harris/• N e w York,
McGraw-Hill, 1943, pp. 361-73•
Cooney, E. W., "Capital Exports and Investment in Building in Britain
and the USA, 1856-1914," Economica, XVI, Nov0 1949, pp. 347-54*
* Buchanan, N. S., "International Investment," in A Survey of Contemporary
Economics, vol. II. Homewood, Irwin, 1952, pp* 307-54«,
Hunter, Jo Mo, "Investment as a Factor in the Economic Development of Cuba,
1899-1935," Inter-American Economic Affairs, Winter, 1951.
Jenks, Lo Ho, "British Experience with Foreign Investments in The Tasks
of Economic History. ^Supplement to JEH7 Dec0 1944.
Pentland, H. Co, "The Role of Capital in Canadian Economic Development
before 1875/ CJE+PS, XVI, Nov0 1950.
Reeves, W 0 Ho and P. Do Dickens, "Private Foreign Investments^ a Means
of World Economic Development," Pol. Scio Quarterly0 LXIV, June
1949, PP. 211-44o
Salter, Sir Arthur, "Foreign Investment" /Essays in International Finance
No. 127. Princeton, Princeton University Press, 1951°
Schiff, E., "Direct Investments, Terms of Trade and Balance of Payments,"
QJE, LVI, Febo 1942, pp. 307-20.
Singer, L W., "Distribution of Gains between Investing and Borrowing
Countries," AER, Supplement, XI, May 1950.
Whittlesey, C. E., "Foreign Investment and the Terms of Trade," QJE,
XLVI, 1932, pp0 444-64.
Wu, Yuan-Li, "Government Guarantees and Private Foreign Investment," AER,
XL, March 1950, pp. 61-73*
"International Capital Investment and the Development of
Poor Countries," EJ, LVI, March 1946, pp0 86-101.
VI.
THE UNITED STATES IN THE WORLD ECONOMY
A.
The Chronic Dollar Shortage
Books 1
Balogh, T., The Dollar Crisis. Oxford, Blackwell, 1949.
Harris, So Eo /ed./, Foreign Economic Policy for the United States„
Cambridge, Harvard Uo Press, 1948.
""
Hawtrey, R. G., The Balance of Payments and the Standard of Living.
London, Rd.IoAo, 1950.
Kindleberger, Co P., The Dollar Shortage, New York, Wiley, 1950.
Lary, Ho B., The United States in the World Economy. Washington, D. C ,
Department of Commerce, 1943°
0EEC, Europe, the Way Ahead Towards Economic Expansion and Dollar
Balance. Paris, 1952•
Stein, Gunther, The World the Dollar Built. London, Dobson, 1952.
19
U. S. Government, The Long-Term Outlook for the Supply of U.So Dollars.
^Intelligence Report 5911/- Washington, D. C , Department of
State, March 10, 1953_________
Report to the President on Foreign Economic Policies <>
/Gray Report/^ Washington, D. C , GPO, 1950o
Report to Congress on the Mutual Security Program for
the six months ended June 30, 1953* Washington, Augo 1953*
Articles:
Balogh, T., "The Concept of a Dollar Shortage," MS, XVII, May 1949,
pp0 186-201.
Brown, A 0 J., "The American Economy and World Trade" ^Lecture 2 in Series
on Dollar Shortage7* London, Institute of Bankers, 1949*
Copland, D. B., "The Dollar Gap and the Commonwealth," FA, July 1950,
Croome, H., "The Dollar Siege, LBR, July 1950, pp« 25-460
Ellis, H. S., "The Dollar Shortage in Theory and Fact," CJE+PS, XIV,
Aug. 1948, pp. 258-72o
Graham, F. D., "The Cause and Cure of 'Dollar Shortage^1" /Essays' in
International Finance, No0 10/« Princeton, Princeton U. Press,
Jan. 1949.
"""
Harrod, R. F., "Imbalance of International Payments," IMF—SP, III, April
1953, PP* l-46o
Hicks, J. R 0 , "An Inaugural Lecture" ^on The Long-Run Dollar Problem/, OEP,
V, June 1953.
Kahn, R. Fo, "Dollar Shortage and Devaluation," EI, III, Feb. 1950,
pp. 99-113.
Keynes, J. M., "The Balance of Payments of the United States," EJ, LVI,
June 1946, pp. 172-87.
Kindleberger, C. P., "International Monetary Stabilization," in Postwar
Economic Problems ^ed. by S. Eo Harris/- New York^ McGraw-Hill, 1943.
Knox, F. A., "Trade and the World Economy," in Canada /edo by Go W. Brown/.
Berkeley, Uo of California Press, 1950, pp. 522-400
Maffry, August, "Prospects for Closing the Dollar Gap," LBR, Oct. 1952,
pp. I-I60
Martin, K., "The Dollar Gap," MS, XVIII, May 1950, pp0 128-42.
Mendershausen, H., "Foreign Aid with and without Dollar Shortage," RE+S,
XXXIII, Feb. 1951, pp. 38-48.
Polak, J. J., "Contribution of the September 1949 Devaluations to the
Solution of Europe's Dollar Problem," IMF—SP, II, Sept. 1951.
* Robbins, L. C , "The International Economic Problem," LBR, Jan. 1953,
pp. 1-24.
Smithies, A., "European Unification and the Dollar Problem," QJE, LXIV,
May 50; comments by T. Balogh and G. Haberler and a reply, ibid.,
LXV, Febo 1951Stolper, Wo F., "Notes on the Dollar Shortage," AER, v. 40, June 1950,
pp. 287-300; comments by T, Balogh and a reply, ibid., v, 41, 1951,
pp. 405-10.
"American Foreign Economic Policy, the Dollar Shortage
and Mr. Balogh," Kyklos, III, Wo0 2, 1949, pp. 160-72.
* Williams, J. H., "Trade, Not Aid: A Program for World Stability" /stamp
Memorial Lecture/« Cambridge, Harvard U. Press, 1953.
20
1. Debate on the Price of Gold:
Articles:
Bruce, Colin, "The Gold Controversy—A Comment," SAJE, v* 19, Dec.
1951, PP. 38-5.
Busschau, W„ J., "Keynesian Views on the Price of Gold," SAJE, v. 19,
March,1951o
"The Case for Increasing the Price of Gold in Terms of
All Currencies," SAJE, XIII, March 1949, pp. 1-22.
Economist, The, "Gold and the Gap," May 16, 1953o
Frahkel, H., "The Price of Gold and the Purchasing Power of the Pound
Sterling," JESS, Part I, 1953.
Harrod, R. F., "Imbalance of International Payment," IMF—SP, III,
April 1953.
Holloway, J. E., "The Debacle of Money," SAJE, v0 19, June 1951*
Johnson, H. G., "The Case for Increasing the Price of Gold in Terms of
All Currencies: A Contrary View," CJE+PS, XVI, May 1950, pp.
199-209.
Kriz, M. A., "The Price of Gold" /Essays in International Finance, No. Vff.
Princeton, Princeton U. Press, 1952.
Mclvor, R. C , "A Note on the Price of Gold," CJE+PS, XIX, May 1953National City Bank, Monthly Letter on Economic Conditions, Jan a 1953*
Rist, C. Ao, "Gold and the Return to the Ideas of John Law," SAJE,
v. 19, March 1951.
van der Horst, So, "The Price of Gold: a Comment," SAJE, v. 19, Sept.
1951j rejoinder by W. J. Busschau, ibid., Dec. 1951, pp. 386-90.
B. United States Foreign Economic Policy:
1. Economic and Military Aid Program—Prospect and Retrospect
Books:
Brown, Jr., W. Ao and R. Opie, American Foreign Assistance? Washington,
Brookinfes, 1953*
Ellis, H. So /ed^J, The Economics of Freedom. New York, Harper, 1950,
especially Parts I and IV«,
Geiger, T. and H. V. B. Cleveland, Making Western Europe Defensible.
Washington, NPA, 1951.
Knorr, Klaus Eo /e&jj,
Strengthening the Free World Economy /Memorandum
No. 37. Princeton, Princeton U. Press, Feb. 16, 1953°
Patterson, Gardner and associates, Survey of United States International
Finance, 1952. /Annual/ Princeton, Princeton U. Press, 1953.
Stein, Gunther, The World the Dollar Built, London, Dobson, 1952.
Tew, Brian, International Monetary Co-operation, 1945-52«, London,
Hutchinson1s, 1952.
* Williams, J. Ho, Economic Stability in a Changing World0 New York,
Oxford;Uo Press, 1953.
21
Articles;
Behrman, J0 N», "Political Factors in Ho S. International Financial
Cooperation,1945-50," American Pol. Sci. Review, XLVTI, June 1953,
pp0 431-60.
Bissell, Jr., R. M., "Foreign Aid: What Sort? How Much? How Long?"
FA, Octo 1952, pp. 15-38o
"European Recovery and the Problems Ahead," AER,
Supplement, v, 42, May 1952, pp. 306-26.
Ellis, H. S., "American Economic Aid to Europe in Retrospect," Kyklos,
VI, No. 1, 1953, PP° 3-20.
Gideonse, H. D., "Economic Foreign Policy of the United States„" Cairo,
National Bank of Egypt, 1953Haberler, Go, "Some Economic Problems of the European Recovery Program,"
AEB, v. 38, Septo 1948, pp0 495-525.
Hulley, John, "Protect or Compensate?" World. Politics, V, April 1953,
pp, 313-29.
Mendershausen, H., "Future Foreign Financing," RE+S, XXXI, Nov0 1949,
pp. 266-79.
Rostov, W. W., "Notes on a New Approach to UcS. Foreign Economic Policy,"
World Politics, V, April 1953, pp. 302-120
2.
Current Trade and Tariff Policies of the United States
Books 1
Elliott, G. A., Customs Procedure as a Tariff Barrier. Toronto,
Canadian Institute of International Affairs, 1952.
Hawkins, H. C , W. L. Clayton and Others, International Trade Policy
Issueso Washington, D. C , Chamber of Commerce of the U.S., Feb. 1953Humphrey, D. D., United States Import Problems and Policies0 New York,
/tentative/ 1953•
Isaacs, Asher, International Trade, Tariff and Commercial Policies.
Chicago, Uo of Chicago, 19480
Johnson, D. G., Agriculture and Trade. New York, Wiley, 1951*
Piquet, Howard S., Aid, Trade and the Tariff. New York, Crowell, 1953•
Smith, R. Elberton, Customs Valuations in the United States. Chicago,
U. of Chicago Press, 1948.
* United States, Public Advisory Board for Mutual Security, A Trade and
Tariff Policy in the National Interest /Bell Report/0 Washington,
Feb. 1953.
Articles:
Chapman, J0 F., "How Restrictive Are U. S. Tariffs and Quotas?" HBR, v. 31,
July-Aug. 1953 de Vries, B. A., "Price Elasticities of Demand for Individual Commodities
Imported into the U. So," IMF--SP, I, April 1951.
Gordon, M.*S., "International Aspects of American Agricultural Policy,"
AER, XXXVI, Sept. 1946, pp. 596-612.
Hargreaves, J. A., "U. S 0 Import Propensities Since the War," Bull,, OIS,
Vo 12, Jan.-Feb. 1950.
Johnson, D. G., "Reconciling Agricultural and Foreign Trade Policies,"
JPE, LV, Ddc. 1947, PPo 567-71.
22
Kaufmann, Johan, "Trends in U.S. Tariff Policies," Kyklos, VI, No. 1,
1953, P P . 55-76o
Mendershausen, H., "Long-Term Trends in UoS. Merchandise Exports, 1900-50,"
Zeitschrift fur die Gesamte Staatswissenschaft, Vo 108, Wo. 2, 1952.
"America's Trade Balance and the International Order,"
World Politics, II, Oct. 1949, pp. 40-660
Patch, B. W., "Trade Policy and Foreign Aid," Editorial Research Report,
Feb. 4, 1953.
Prest, A 0 R. and A. D. Roy, "The United States Tariff," Bull., L+CES,
XXVIII, Feb. 1950, pp. 2-8o
Pribram, Karl, "Rearmament and a More Flexible Tariff Structure for the
United States," AER, v, 42, June 1952, pp. 358-69.
Reischer, 0. R 0 , "Assistance in Adjusting to a Tariff Reduction," JB,
XXVI, April 1953, PP. 103-9.
Thorp, Willard, "The Problem of our Trade Balance," FA, April 1953"Relief for Victims of Tariff Cuts," AER, v. 40, Dec. 1950.
3. Current United States Foreign Investment Problems and Policies
Books:
Brookings Institution, Major Problems of U.So. foreign Policy, 1952-53i
Washington, 1952.
"'
Lewis, Cleona, The United States and Foreign Investment Problems.
Washington, Brookings, 1948.
Marsh, D. B., World Trade and Investment. New York, Hareourt, Brace, 1951>
ch. 31.
National Industrial Conference Board, Obstacles to Direct Foreign
Investment„ New York, 1951*
Sharp, Walter R., International Technical Assistance, Programs and
Organization. Chicago, Public Administration Clearing House; 1953Government Publications:
Gray, Gordon, Report to the President on Foreign Economic Policies.
Washington, GPO, 1950.
Orchard, J. E., Economic Strength for the Free World ^/Report, Advisory
Committee on Underdeveloped Areas, Mutual Securities Agency/.
Washinton, May 1953 •
Rockefeller, Nelson, Partners in Progress ^/Report, International
Development Advisory Board/. Washington, March 1951*
U. So Congress, Subcommittees of the Committee on Banking & Currency,
Pursuant to HoRes..436, 82d Congress, Investigations of Export-Import
Bank Activities. Washington, 1953.
U. S. Department of Commerce, Study of Factors Limiting U. S. Investment
Abroad: Pt. I, "Survey of Factors in Foreign Countries." Washington,
1953. * and also, ibid,, "Summary of Preliminary Findings and
Recommendations."
Brown, Jr., W. A., "Treaty Guaranty and Tax Inducements for Foreign
Investment," AER, Supplement, vc 40, May 1950, pp. 486-94.
Dacey, W. Manning, "Wanted: American Capital Exports," LBR, Oct. 1950.
Dernberg, H. J., "Prospects for Long-Term Foreign Investment," HBR, July
1950, pp. 41-51•
Domar, E. D., "The Effect of Foreign Investment on the Balance of Payments,11
AER, v. 40, Dec.,1950r pp. 805-26.
23
Federal Reserve Bulletin, "U. So Postwar Investment in Latin America,"
v. 39, May 1953, pp. 445-50.
Feis, Herbert, "Private Investment Abroad," Proceedings of the Acad, of
Pol. Sci, XXV, May 1953, pp. 309-20.
Hartland, Penelope, "Private Enterprise and International Capital,"
CJE+PS, v. 19, Feb. 1953, PP* 70-80.
Hayes, Jr., Samuel P., "An Appraisal of Point Four," Proceedings of the
Acad, of Pol. Sci, XXV, May 1953/ PP- 291-306.
Hinshaw, R 0 , "Foreign Investment and American Employment," AER, Supplement,
v. 36, May 1946, pp. 661-71.
Lary, Hal B,, "The Domestic Effects of Foreign Investment," AER, .
Supplement May 1946, pp„ 672-85,
Maffry, August, "Program for Increasing Private Investment in Foreign
Countries" /Report prepared for ToC.A0, State Department/0 New York,
Irving Trust Co., Dec0 18, 1952.
Patterson, Gardner, "The Export-Import Bank," QJE, Nov. 1943, pp. 65-90.
* Salant, W. S., "The Domestic Effects of Capital Export under the Point
Four Program," AER, Supplement, v. 40, May 1950.
Washington Industrial Research Consultants, Inc0, "Preliminary Report on
the Export-Import Bank," Washington, 1953•
"Types of Financing
Engaged in by the Export-Import Bank." Washington,;1953•
Whittlesey, C. R., "Five Years of the Export-Import Bank," AER, v. 29,
Sept. 1939VII.
THE INTERNATIONAL ECONOMIC POSITION OF BRITAIN AND THE STERLING AREA
A.
Britain and the Sterling Area in the World Economy
Books:
Abrams, M. /ed^/, Britain and Her Export Trade. London, Pilot Press, 1947Bank for International Settlements, The Sterling Area. Basle, Jan. 1953•
Bareau, Paul, The Sterling Area. London, Longmans, 1950o
* Cassels, J. M. and Associates, The Sterling Area--An American Analysis.
London, ECA Special Mission to the Uo K., 1951 •
* Conan, A. R., The Sterling Area* London, Macmillan, 1952 o
Crosland, C. A* R„, Britainfs Economic Problem, London, Cape, 1953Harrod, Roy F., And So It Goes On. London, Hart-Davis, 1951Are These Hardships Necessary? London, Hart-Davis, 2d ed.,
1947o
Institute of Bankers, Banking and Foreign Trade. London, Europa, 1952.
^
The Pattern and Finance of Foreign Trade, London,
Europa, 1949.
Kahn, A. E., Great Britain in the World Economy, New York, Columbia IL
Press, 19460
~
~
Meyer, Fo V., Great Britain, the Sterling Area and Europe. Cambridge,
Bowes & Bowes, 1952.
Britain's Colonies in World Trade. London, Oxford U.
Press, 194<ET
'
'
* Nelson, J. R. and Do K. Palmer, "United States Foreign Economic Policy
and the Sterling Area," ^Memorandum No. 4/. Princeton, Princeton
U. Press, March 9, 1953Worswick, G.DoNo and P 0 H 0 Ady /eds^, The British Economy, 1945-50. Oxford,
Clarendon Press, 1952, chs. 23-24 (ppG 511-49) by J. R. Sargent.
24
Articlest
Balogh, To, "The Balance of Payments and Domestic Economic Policy,"
Bull., OIS, XIII, Feb. 1951"Britain, OEEC and the Restoration of the World Economy,"
Bull,, OIS, XI, Feb.-Mar. 1949______
"Britain's Economic Problem," QJE, LXIII, Feb. 1949°
Bareau, Paul, "The Future of the Sterling Area," LBR, Jan. 1952, pp0 l-l6o
Barker, Ho Po and R. F. Kahn, "Home and Export Trade," EJ, LXI, June 1950,
PP. 276-89o
Billewicz, W . Z . , "The Import Content of British Exports," Economica,
v. 20, May 1953, pp. 162-9.
Burtle, Jo Lo and W. Liepe, "Devaluation and the Cost of Living in the
U. K0," RES, XVIl(l), NOo 42, 1949-50, pp* 1-28,
Crick, Wo Fo, "International Financial Relations- Some Concealed Problems,"
International Affairs, XXVII, July 1951°
"Great Britain's Post-War Monetary Experience, Internal
and External," in Economic Conditions and Banking Problems„ Stockholm,
Swedish Banks Assn., 1950, pp0 75-92„
Day, Ac Co L., "Devaluation and the Balance of Payments," Economica, XVII,
Nov. 1950, pp. 431-7°
Devons, E., "Some Aspects of U. Ko Export Trade," LBR, July 1952.? pp. 28-45Economist, The, "Living with the Dollar," Special Supplement, Nov. 22,
1952, pp. 58O-96; Dec, 6, 1952, ppo 678-9. Also current issues, 1953°
Fleming, J. Marcus, "Britainfs Balance of Payments Problem," Proceedings
of the Acad, of Polo Sci., XXV, May 1953, pp. 14-29.
"Regional Organization of Trade and Payments," AER,
Supplement, v0 42, May 1952, pp. 345-58o
Franklin, No, "South Africa8s Balance of Payments and the Sterling Area,
1939-50," EJ, LXI, June 1951, pp. 290-309.
Gaitskell, Hugh, "The Sterling Area," International Affairs, XXVIII,
April 1952, pp. 170-6.
Garmany, J, ¥., "South Africa and the Sterling Area," SAJE, XVII, Dec
1949, PP° 480-91.
Greaves, I. C , "The Sterling Balances of Colonial Territories," EJ, LXI,
June 1951, PP. 433-9.
Harrod, Roy Fo, "The Pound Sterling" /Essays in International Finance
No. 13/. Princeton, Princeton U. Press, Febo 1952«
"Britain*s Balance of Trade Problems," Quarterly Survey,
Banque de Bruxelles, No0 1-2, 1952, pp. 345-580
Havens, R. M., "The Significance for American Policy of British Reserve
Losses in 1951-52," SEJ, XX, July 1953, PP° 1-11Eahn, R. F 0 , "The Balance of Payments of the Sterling Area," DBR, Dec.
1951.
Kent, T. W., "1947 Comes Again,ff LBR, Oct. 1951, pp. 1-18.
"Devaluation One Year After," LBR, Oct. 1950, pp. 22-37Kinsman, K. L., "Regional Analysis of British Import Prices," Economica,
XVIII, May 1951.
MacDougall, Go D. A Q , "Further Notes on Britainfis Bargaining Power," OEP,
"Britain's Foreign Trade Problem," EJ, LVII, March
1947, PP- 69-113; interchange with T. Balogh, ibid.., LVIII, March
1948, pp0 74-98.
Mackintosh, Wc A 0 , "The Fissure in Kato°. North American and Sterling
Area Trade," FA, JanQ 1953, PP° 268-79.
25
McCurrach, D. F Q , "Britain's U . S . Dollar Problem, 1939-45," EJ, LVIII,
Sept. 1948.
Meier, G., "Long Period Determinants of Britain's Terms of Trade," RES,
XX(2), No. 52, 1952-53°
Paish, F. Wo, "Aspects of the British Economy and Some Current Economic
Problems," SAJE, voL 21, June 1953"The United Kingdom as a Source of Capital," DBR, March,.1953Perkins, J0 0. M., "Some Recent Developments in the Sterling Area," ER,
XXVII, June 1951^
Pigou, Ao C , "Unrequited Imports," EJ, LXI, June 1951, PP° 241-54;
comments by H. G. Johnson and C. Fo Carter, ibid., Dec. 1951 •
Rafler, D. D., "Bilateral Trade Arrangements of the U. K.," Foreign
Agriculture, Oct. 1949* Robbins, L. C , "The International Economic Problem," LBR, Jan. 1953°
"The Balance of Payments" /stamp Memorial Lecture/. London,
Athlone Press, 1951"The Sterling Problem," LBR, Oct. 1949, pp. 1-31.
Robinson, E G A. G., "The Future of British Imports," 3BR, Jan. 1953,
PPo 3-17.
and A. D. Marris, "The Use of Home Resources of Save
Imports," EJ, LX, March 1950, pp. 177-81; comment by G.D.A. MacDougall,
ibid., Sept. 1950, pp. 629-31.
Salter, Sir Arthur, "After Devaluations The Common Task," FA, JanG 1950.
Shannon, H. A., "The Modern Colonial Sterling Exchange Standard," IMF—SP,
II, April 1952, ppo 318-62.
_ _
"The Sterling Balances of the Sterling Area," EJ, LX,
Sept. 1950, pp. 531-51.
Stern, E. Ho, "The Pattern of Sterling Area Payments," /T946-52/, The
Banker, v. 99, Nov. 1952, pp. 271-7.
Tew, Brian, "Sterling as an International Currency," ER, XXIV, June 1948,
pp. 42-55.
Wightman, David, "The Sterling Area," Banca Nazionale del Lavoro, QR,
Pts. 1-2, April-June and July-Sept. 1951„
Current Controversy on Sterling Convertibility
Books;
Committee for Economic Development, Britain's Economic Problem and Its
Meaning for America. New York, March 1953.
Creditanstalt Bankverein, Monthly Economic Report, Special Edition /ioC.Co
Conference, Vienna/, May 23, 1953ArticlesAschinger, Franc, "The Sterling Problem," Swiss Review of World Affairs,
Jan. 1953.
Backmann, Hans and Fo Lutolf, "Die Konvertibilitat des englischen Pfundes,"
Aussenwirtschaft ^Berne/, v. 8, March 1953, pp. 19-30.
Banker, The, June 1952, pp. 303-13, and subsequent issues.
Brown, Jr., W. A., "Sterling Convertibility and Some Related Problems,"
AER, Supplement, v. 43, May 1953, pp. 71-80.
26
* Day, A. C. L., "Convertibility and the European Payments Union," Bull,,
OIS, v. 15, May 1953, pp. 151-62.
*
"What Kind of Convertibility?" LBR, April 1953, pp. 33-44.
"The Price of Sterling Convertibility," EI, V, Nov. 1952,
~"
pp. 884.
Harrod, R. Fo, "Limited Convertibility" The Financial Times, London,
July 22, 1953, p. 4.
"The Problem of Sterling Convertibility," 3BR, June 1950,
pp. 3-gOo
International Monetary Fund, "The Adequacy of Monetary Reserves" ^Report
prepared for UNESCO/, 1953Leith-Ross, Sir Frederick, "Sterling Convertibility," SAJE, v. 21, March
1953, PP. 1-10.
Nurkse, Ragnar, "The Problem of Currency Convertibility Today,"
Proceedings of the Acad, of Polo Sci., XXV, May 1953, PP. 61-78.
Posthuma, S., "Note on Convertibility," EI, VI, Sept0 1953.
Rottier, G. and others, "La zone sterling,*11 Economie Appliquee, VI,
Jan.-Mar. 1953VIII. AID, TRADE, AM) ECONOMIC UNION IN WESTERN EUROPE
A. Economic Integration
Books;
Carmoy,Guy de, Fortune de lyEurope, Paris, Eds. Donat, 1953• English
ed. later.
Carnegie Endowment for International Peace, LfIntegration economique de
1'Europe. Paris, Presses Universitaries de France, 1953*
ECE, Economic Survey of Europe Since the War. Geneva, Feb. 1953Hawtrey, R. G., Western Union; Implications for the United Kingdom.
London, R.Id.Ae, 1949*
* Marjolin, Robert, Europe and the United States in the World Economy.
Durham, Duke U. Press, 1953•
* Meade, James E., Problems of Economic Union. Chicago, Uo of Chicago
Press, 1953.
Piettre, Andre, L'Economie allemande contemporaine, 1945-52° Paris,
Eds. M. Th.; Genin, 1952.
Articles1
* Aron, Raymond, "Problems of European Integration," LBR, Apr* 1953, pp. 1-17•
Balogh, T., "Problems of Western Unification," Bull., OIS, v. 12, Oct.
1950, pp. 299-314.
Cairncross, Ao K., "Organisation for European Economic Co-operation,"
MSS, Sessions 1951-52, pp. 1-25.
D*Anna, F. Coppola, "The Economic Integration of Western Europe," QR,
Banca Nazionale del Lavoro, Apr.-June 1950, pp* 109-22„
Dupriez, L. H., "European Economic Union," 3BR, Sept. 1950, pp. 3-19•
Giersch, H0,."Economic Union between Nations and the Location of
Industries," RES, VII(2), No0 43, 1950.
Goormaghtigh, John, "European Integration," IC, No. 488, Feb. 1953,
PP. 53-109.
Harrod, R. Fo, "European Economic Cooperation—A British Viewpoint,"
Public Finance, V, No. 4, 1950, pp. 538-46.
Holcombe, A. N., "An American View of European Union," American Pol. Sci.
Review, XLVII, June 1953, pp. 417-30.
27
Knox, F. A., "European Economic Integration and World Trade Policy,"
Journal of Farm Economics, Nov. 1951*
Loewenstein, Karl, "The Union of Western Europe: Illusion and Reality,"
Columbia Law Review, v. 52, JanQ 1952.
Morgan, D. J., "The British Commonwealth and European Economic Cooperation," EJ, LIX, Sept. 1949, PPo 307-25.
Robertson, D. H., "Britain and European Recovery," LBR, July 1949, PP« 1-13*
Stone, D. Co, "The Impact of U. S. Assistance Programs on the Political
and Economic Integration of Western Europe," American Polo Sci.
Review, v0 46, Dec0 1952, pp. 1100-16.
Tykens, Paul, "Towards a European Economy," JIE, I, No. 2, April 1953°
1.
Schuman Plan--Experiment in Regional Economic Integration
Books 1
Diebold, Jr Q , William, The Schuman Plan.
New York, Harper, /tentative/ 1953Hahn, Carl Horst, Per Schuman Plan0 Munich, Richard Pflaum, 1953 •
Articles:
McKesson, Jo Ao, "The Schuman Plan," Pol. Sci. Quar0, March 1952 0
Parker, William N., "The Schuman Plan - A Preliminary Prediction,"
International Organization, v. 1, No0 3> 1952o
Philip, A., "The Schuman Plan," European Movement. Brussels, 1951•
Sethur, Frederick, "The Schuman Plan and Ruhr Coal," Pol, Sci. Quar., Dec0
1952, pp. 503-20.
Uri, Pierre, "The Schuman Plan and Certain Problems of Economics," ISSB,
III, 1951.
Vernon, Raymond, "The Schuman Plan," American Journal of International
Law, v. 47, April 1952, pp. 183-2020
Wolf, Salmon, "The Coal and Steel Pool in Operation," Swiss Review i5f
World Affairs, Feb. 1953.
* Zawadzki, K. K* F., "The Economics of the Schuman Plan," OEP, V, June, 1953*
"Britain and the Schuman Plan," Kykloa, V, No. 3, 1952,
pp. 237-50.
2.
Customs Unions
Books 1
Liepmann, H., Tariff Levels and the Economic Unity of Europe. London,
Allen & Unwin, 1938'•
Viner, Jacob, The Customs Union Issue0 New York, Carnegie Endowment for
International Peace, 1950Articles:
H a b e r l e r , G., "Economic Aspects of a Customs Union," World P o l i t i c s , J u l y
1949, VV> 4 3 1 - 4 1 .
"The P o l i t i c a l Economy of Regional or C o n t i n e n t a l B l o c s , " i n
Postwar Economic Problems /ecL by S C E. H a r r i e t N e w York, McGraw-Hill,
1943-
28
Makower, H* and G. Morton, "A Contribution towards a Theory of Customs
Unions/1 EJ, LXIII, March 1953, pp. 33-49*
Svennilson, Ingvar, "Customs Unions as an Economic Problem," Ekonomisk
Tidskrift, v. LI, June 1949Van den Brink, J. R. M., "Benelux at the Crossroads," QR, Amsterdamsche
Incasso Bank, 1st Quarter, 1953Westrate, C , "The Economic and Political Implications of a Customs
Union," QJE, LXII, May 1948.
B*
Trade Liberalization and Problems of Currency Convertibility
among OEEC Countries.
Books;
Bank for International Settlements, Annual Report. Basle, 1952-3.
Creditanstalt Bankverein, "Convertibility--Liberalisation—Integration,"
Monthly Economic Report, Special Edition, Part 2 ^Lc.Co Conference/.
Vienna, May 23, 1953.
OEEC, European Economic Cooperation„ Paris, Sept. 1953 > Appendix•
Articles:
Haberler, G., "The Foreign Trade of Western Europei Accomplishments
and Prospects," Proceedings of the Acad, of Pol. Sci., XXV, May
1953, PP. 79-89.
International Monetary Fund, "The Adequacy of Monetary Reserves" ^Special
Memorandum prepared for UNESCO/^ 1953Marjolin, Robert, "Policy Requirements for Balance in International Trade
and Finance," Proceedings of the Acad, of Pol. Scio, XXV, May 1953,
pp. 102-16.
*
• *
• *
29
PART IV
IX. DEVELOPMENTS IN CENTRAL BANKING THEORY AND POLICY—HERE AND ABROAD
Booksi
American Economic Association, Readings in Monetary, Theory ^edo by
Lo Wo Mints and F, A. Lutz/^ Philadelphia, Blakiston, 1950.
Basu, S. K., Recent Banking Developments: Lessons of the Depression and
the War0 Calcutta, Book Exchange, 3rd ed., 1951 •
Burgess, W. R., The Reserve Banks and the Money Market0 New York, Harper
revo ed., 1946„
Chlepner, B. S., Belgian Banking and Banking Theory. Washington, D. Co,
Brookings, 1943.
Clapham, Sir John, The Bank of England. A History0 Cambridge, Eng.,
Cambridge U. Press, 1944.
Copland, D. B 0 , Inflation and Expansionp Essays on the Australian Economy.
Melbourne, Cheshire, 1951°
Australia and the World Crisis, 1929-33* New York,
Macmillan, 1934.
Currie, Lo B., The Supply and Control of Money in the United States.
Cambridge, Harvard U. Press, 1934*
Dacey, W* Manning, The British Banking Mechanism. London, Hutchinson,
1952 de Kock, M. H 0 , Central Banking. London, Staples Press, 2d ed., 1946.
Deshmukh, C. D*, Central Banking in India: A Retrospect. Poona, Gokhale
Institute of Politics and Economics, 1948o
Ellis, H. S., German Monetary Theory, 1905-33* Cambridge, Harvard U.
Press, 1934.
Federal Reserve Board, Banking Studies„
Washington, D. Co, 1941.
Giblin, L.,F., The Growth of a Central Bank--The Development of the
Commonwealth Ba,nk of Australia, 1924-45* Melbourne, Melbourne U.
Press, 1951.
Gifford, J. K. and J. V. Wood, Australian Banking. Brisbane, U. of
Queensland, 1947•
Hardy, C. 0., Credit Policies of the Federal Reserve System. Washington,
D. Co, Brookings, 1932.
* Hawtrey, R. G., Currency and Credit. London, Longmans, Green, 4th ed0,
1950 o
Capital and Employment. New York, Longmans, Green, 2d ed.,
1952.
A Century of the Bank Rate. London, Longmans, Green, 1938.
The Art of Central Banking. London, Longmans, Green, 1932.
Hayek, F. A., Prices and Production. London, Routledge, 2d ed., 1935.
Monetary Theory and the Trade Cycle, New York, Harcourt,
1932.
Jamieson, A. B., Chartered Banking in Canada.
Toronto, Ryerson Press,
1953.
Kauch, P., La Banque Nationale de Belgique. Brussels, Banque Nationale,
1950.
Keynes, J. M., The General Theory of Employment, Interest and Moneyo New
York, Harcourt, 1936.
~
A Treatise on Money. New York, Harcourt, 1930, 2 vols.
30
King, W. To Co, The History of the London Discount Markets London,
Routledge, 1936„
Knox, F. A., Dominion Monetary Policy9 1929-34„ A Study Prepared for
the Royal Commission on Dominion-Provincial Relations, Ottawa, Govt.,
1939.
Lindahl, Erik, Studies in the Theory of Money and Capital. London,
Allen & Unwin, 1939.
Lundberg, Erik, Studies in the Theory of Economic Expansion«, London,
King, 1937Mackenzie, K., The Banking Systems of Great Britain, France, Germany and
the U.SoAo London, Macmillan, 3rd ed., 1945•
Malhotra, D. K., History and Problems of the Indian Currency, 1935-49*
Simla, Minerva, rev. ed., 1949•
Mints, Lo W., A History of Banking Theory in Great Britain and the United
States. Chicago U. of Chicago Press, 1943•
Morgan, Eo V., Studies in British Financial Policy, 1914-25. London,
Macmillan, 1952.
The Theory and Practice of Central Banking, 1797-1913.
Cambridge, Cambridge U. Press, 1943*
Muranjan, S. K., Modern Banking in Ind;Laj Bombay, Kamola Pub. House, 3rd
ed., 1952.
Shadows of Hyper-Inflation. Bombay, Kind-Kitabs, 1949*
Myrdal, Go, Monetary Equilibrium. London, Hodge, 1939Pigou, A. Co and Do H. Robertson, Economic Essays and Addresses„•« London,
King, 1931.
Plumptre, A. F. ¥., Central Banking in the British Dominions. Toronto,
Toronto U. Press, 1940„
Raj, K. N., The Monetary Policy of the Reserve Bank of India. Bombay,
National Information and Publications, Ltd*, 1948 o
Reed, H. L., Federal Reserve Policy, 1921-30» New York, McGraw-Hill, 1930.
Riefler, W. W 0 , Money Rates and Money Markets. New York, Harper, 1930.
* Robertson, DQ H., Money. London, Nisbet, 4th ed., 1948.
Banking Policy and the Price Level /J-92&J° New York,
Kelley, 1949*
Essays in Monetary Theory. London, King, 1940.
Sayers, R. S., Modern Banking. Oxford, Clarendon Press, 3rd edo, 1951.
Bank of England Operations, 1890-1914. London, King,
193^
*
[e&J> Banking i n t h e B r i t i s h Commonwealth0
Oxford,
Clarendon Press, 1952.
Sen, S. N., Central Banking in Undeveloped Money Markets. Calcutta,
Bookland, 1952.
Truptil, R. J., British Banks and the London Money Market. London, Cape,
1936.
Whittlesey, Co R. /ed./ Readings in Money and Banking. New York, Norton,
1952.
Articles 1
Bopp, K. R., "Three Decades of Federal Reserve Policy," in Postwar
Economic Studies, No. 8, Nov0 1947, pp. 1-29.
~
Brockie, M. D., "Theories of the 1937-38 Crisis and Depression," EJ, LX,
June 1950, pp. 292-310.
Crick, W. F., "Old and New Instruments of Monetary Policy," Societe d1
Economie Politique de Belgique, March 1952.
"Thirty Years of Monetary Change, 1914-45," London, Institute
of Bankers, 1945, pp. 1-16.
31
* de Kock, M. Ho, "Recent Developments in Central Banking and Monetary
Policy SAB J, March 1952, pp. l-l6.
Hirst, R. R., "Postwar Monetary Policy in Australia," ER, XXIX, May
1953, PP. 1-18.
Irvine, R. J., "Recent Central Banking Developments in Southeast Asia,
FRB, Dec. 1952.
Kriz, M. A., "Central Banks and the State Today," AER, v. 38, Sept.
1948, pp. 565-80.
Riefler, W 0 Wo, "The Dilemma of Central Banking as Illustrated in Recent
Literature," QJE, L, Aug. 1936, pp. 706-18.
Robertson, D. H., "A Survey of Modern Monetary Controversy," MS, IX,
No. 1, 1938.
Roose, K. D., "Federal Reserve Policy and the Recession of 1937-38,"
RE+S, XXXII, May 1950, pp. 177-831 comment by Po W 0 Bell, ibido,
XXXIII, Nov. 1951.
* Sayers, R* S., "Central Banking," in British Banking Today. London,
Institute of Bankers, 1953*
"The Development of Central Banking After Bagehot," EHR,
IV, No. 1, 1951, pp. 109-16.
"Central Banking in the Light of Recent British and
American Experience," QJE, LXIII, May 1949, pp. 198-211. .
Seltzer,. L. H., "The Development of Monetary Theory," in Economic Theory
in Review. Bloomington, U. of Indiana Press, 1950»
Whale, P. B., "Central Banks and the State," MS, X, 1939Williams, J. H., "Implications of Fiscal Policy for Monetary Policy and
the Banking System," AER, Supplement, v. 32, Mar. 19420 Reprinted
l n Post-War Monetary Plans0
"The Banking Act of 1935," AER, v. 26, March 1936.
also in Post-War Monetary Plans,
X.
THE RENAISSANCE OF MONETARY POLICY
A.
Current Monetary Policy and Debt Management in the Uo S.
BOOKS and DOCUMENTS
Abbott, C. Co, The Federal Debt; Structure and Impact, New York, 20th
Century Fund, 1953.
Chandler, L. V., Inflation in the United States, 1940-48. New York,
Harper, 1951.
Committee for Economic Development, Flexible Monetary Policy—What It
Is and How It Works. New York, March 1953.
Federal Reserve Board,. "Federal Reserve Policy." ^Postwar Econ. Studies
No. 8/. Washington, Nov. 1947°
Goldenweiser, E. A 0 , American Monetary Policy. New York, McGraw-Hill, 1951 <
Hart, A. Go, Money, Debt, and Economic Activity, New York, Prentice-Hall,
2d ed., 1953.
Defense and the Dollar. New York, Twentieth Century Fund,
1953.
Defense Without Inflation«, New York, Twentieth Century Fund,
1951.
Income, Employment, and Public Policy0 Essays in Honor of A. H. Hansen.
New York, Norton, 1948„
32
Money, Trade, and Economic Growth, In Honor of J, EL Williams* New York,
Macmillan, 1951* PP- 270-325.
Murphy, H. C , National Debt in War and Transition. New York, McGraw-Hill,
1950.
Poole, K. Eo /ed^J Fiscal Policies and the American Economy„ New York
Prentice-Hall, 1950c
Documents;
U» So Governments
Patman Subcommittee on General Credit Control and Debit Managementi
Compendium of Replies to Questions ..<> Sen. Doc. No0 123e
Washington, D C. GPO, 1952•
Douglas Subcommittee on Monetary, Credit and Fiscal Policies,
Report .o. Sen. Doc. No. 129, 8lst Congress, 2d Session.
Washington, D. C , GPO, 1950.
Articleso
Bach, G. L., "The Economics and Politics of Money," HBR, March 1953,
pp. 84-96.
Chandler, L. V., and H. C. Murphy," "Reappraisal of the Easy Money Policy,"
JF, VI, June 1951,
Daane, J. Dewey, "Interest Rate Movements Since 1940," SEJ, XX, July 1953,
PP. 23-34.
Fergusson, D. A., "Price-Level Stabilization and Full Employment as
Objectives of Monetary Policy," JB, v. 24, July 1951, pp. 220-31.
Fforde, Jo So, "The Monetary Controversy in the U.S.Ao," 0EP, III, Oct.
1951, PP. 221-39.
McCracken, P. W., "The Public Debts Hindrance or Advantage to Credit
Control?" JF, VIII, June 1953Miller, D. C , "Reconciling Monetary Management and Debit Management
Policies/1 JF, V, Dec. 1950, pp0 368-86.
Mueller, Jr., F. W., "The Treasury-Federal Reserve Accord," JF, VII,
Dec. 1952, pp. 580=99o
National City Bank of New York, Monthly Letter on Economic Conditions
and Government Finance, January 1953 to date.
N.Y.Uc Institute of International Finance, "Refunding the Public Debt"
Bull., No, 181, May 18, 1953> pp. 2-22.
"The New Flexible Open Market
Policy;" Bull., No. 179, Dec. B. 1952, pp. 2-22.
Reierson, R. L., "Working of the Credit Mechanism," JF, VIII, June 1953.
Review of Economics & Statistics, "Controversy over Monetary Policy"
/A Symposium/, v<, 33, Aug. 1951, PP* 179-200; and comment, ibid.,
Nov. 1951.
Roosa, R. V., "Integrating Debt Management and Open Market Operations,"
AER, Supplement, v. 42, May 1952, pp. 214-35.
Seltzer, L. H., "The Changed .Environment of Monetary-Banking Policy,"
AER, Supplement, v. 36, May 1946, pp. 65-79Thomas, Woodlief, "Recent Experience with Monetary-Fiscal Measures,"
AER, Supplement, v. 42, May 19520
Wallich, H. Co, "Recent Monetary Policies in the United States," AER,
Supplement, v. 43, May 1953o
Young, R. Ao and others, "The Monetary System of the United States;
"Influence of Credit and Monetary Measures on Economic Stability,"
FRB, v. 39, Feb. 1953, PP° 98-109, March 1953, pp. 219-34*
33
Bo
British Monetary Policy—Current Controversy
Books:
Dacey, W 0 Manning, The British Banking Mechanism. London, Hutchinson's,
1951.
Einzig, Paul, Inflation,, London, Chatto & Windus, 1952.
Hallowell, B. C./ A Study of British Interest Rates, 1929-50. Hartford,
Connecticut General Life Insurance Co., 1950o
Institute of Bankers, British Banking Today, London, Europa, 1953Banking and Foreign Trade. London, Europa, 1952.
Current Financial Problems and the City of London.
London, Europa, 1950.
Paish, Fo W,, The Post-War Financial Problem. London, Macmillan, 1950o
Wilson, T. and P o W o S 0 Andrews, Oxford Studies in the Price Mechanism.
London, Oxford U» Press, 1951Articlesi
Balfour of Burleigh, Lord, "Controls? Financial vG Physical," LBR,
July 1952:, pp0 1-12.
Banker, The, "How Flexible Is Monetary Policy?" Aug. 1953, pp. 65-7O0
^
"Monetary Policy Now," June 1953, PP° 319-250
,
"Financial Institutions and Dearer Money," Aug0 1952«
Brand, Lord, A 0 H. Ensor and others, "The Governments Monetary Policy,"
EJ, LXII, Deco 1952, ppo 715-30.
Btown, A. J., "Inflation and the Flight from Cash," YBE+SR, I, Septo 1949,
PPo 33-42.
Carter, C. F., "The International and Domestic Financial Policy of the
Uo Ko, 1953," Public Finance, XIII, No0 3, 1953Crick, Wo Fo, "Britain's Postwar Economic Policy, 1945-50," CJE-fPS, XVI,
Febo 1951.
Dacey, W. Manning, "The Cheap Money Technique," LBR, Jan0 1947.
Frost, R. and E. Nevin, "The 30 Per Cent Liquidity Ratio," Bull0, OIS,
v. 15, Jan. 1953, PPo 25-34.
Harrod, R. F., "The Drive Against Inflation," DBR, Mar-..' 1952, pp. I-160
Hawtrey, R. G„, "The Treasury, the Budget, Public Debt, and Their Effect
on the Monetary Situation," in The Pattern and Finance of Foreign
Trade. London, Europa, 1949, pp. 201-19*
Henderson, Sir Hubert, "The Problem of Retrenchment," LBR, Jan. 1950.
"Cheap Money and the Budget," EJ, LVII, Sept. 1947Hewell, D. I., "British Public Debt in the Two World Wars," Public
Finance, VIII, No. 2,.1953, PP° 188-205Johnson, H. G., "Recent Developments in British Monetary Policy," AER,
Supplement, v. 43, May 1953, pp. 19-26.
"Clearing Bank Holdings of Public Debt, 1930-50," Bull.,
L+CES, XXXIX, Nov. I95I, pp. 102-9.
"Some Implications of Secular Changes in Bank Assets in
Great Britain," EJ, LXI, Sept. 1951, pp. 544-61.
and others, "Monetary Policy" /t Symposium/. Bull., OIS,
v. 14, April-May 19520
Kahn, R. F 0 , "Oxford Studies in the Price Mechanism," EJ, LXII, Mar.
1952, ppo 119-30.
Kennedy, Co M., "Monetary Policy," cha 9 in The British Economy 1945-50o
Oxford, Clarendon, 1952, pp0 188-206*
34
King, Wo T. C , "Bank Liquidity and the Markets," The Banker, Jan. 1952,
PP. 7-19"Rediscovering Lombard Street," The Banker, Dec. 1951*
PP» 339-50.
Little," Io Mo Do, "Fiscal Policy," cho 8, in The British Economy, 1945-50°
Oxford, Clarendon, 1952, pp0 188-206.
Midland Bank Review, "Monetary Survey, 1952-3," May 1953- (annual, see May
issue 1951-2 also)0
^ _ _ ?!The S i z e a n d s h a P e o f t h e National Debt," Feb, 1950.
Paish, Fo ¥., "The London New Issues Market," Economica, XVIII, Feb0 1951 •
"Prospects for Interest Rates," Bullo, L+CES, XXXVIII,
Feb. 1950.
Robertson, D. H., "What Has Happened to the Rate of Interest?" 3BR, March
1949, PP. 15-31.
Roosa, Ro Vo and others, "Monetary Policy Again: A Symposium," Bull.,
OIS, v. 14, Aug. 1952, pp. 253-306.
Rowan, D. C , "Cheap Moneys the English Experiment of 1945-47," Banca
Nazionale del Lavoro, QR, No, 19, Oct.-Dec. 1951, PP- 213-25.
Sayers, R. So, "The Development of British Monetary Policy," Banca
Nazionale del Lavoro, QR, V, Jan.-Mar. 1952, pp. 3-9"The Concept of Liquidity in English Banking," Banca
Nazionale del Lavoro, QR, IV, April-June 1951Wadsworth, J. E., "Banking Funds and Government Policy in Britain," in
Bank Liquidity and Control of Inflation, v. II of Papers and
Proceedings of the First International Credit Conference. Rome,
Bancaria, 1953, PP- 200-15.
Warburton, E 0 J. N., "Bank Lending under Directives," in Bank Liquidity
and Control of Inflation. Rome, Bancaria, 1953, pp. 189-99.
Ward-Perkins, C. N., "Banking Developments," ch. 10 in The British
Economy, 1945-50. Oxford, Clarendon, 1952, pp. 20B"[
C. Monetary Policy and Financial Equilibrium in
Western Europe Since World War II
Books °o
Bank for International Settlements, Annual Report„ Basle, June 1953°
Baudhuin, Fernand, La Belgique et la Holland. Les Finances de 1939 &
1949° Paris, Librairie de Medicis, 1950«
Bronchart, 0o J0, Le Controle du Credit a Court Terme. Louvain, U. of
Louvain, 1951*
Dieterlen, P, and Co Rist, The Monetary Problem of France. New York,
King's Crown Press, 194BT
Du Pont, P., Le Controle des Banques et la Direction du Credit en Francea
Paris, Dunod, 1952„
Dupriez, Leon, Monetary Reconstruction in Belgiunio New York, King's
Crown Press, 1947ECE, Economic Survey of Europe Since the War„ Geneva, 1953Foa, Bruno, Monetary Reconstruction in Italy. New York, King's Crown
Press, 1949.
International Banking Summer School, Le Financement des InvestissementSo
Paris, 1'Association Professionnelle des Banques, 1951*
__
Economic Conditions and Banking
Problems. Stockholm, Swedish Banks Association, 1950.
35
International Credit Conference, Report, English Supplement„ Rome,
Bancaria, 1951•
Le Bourva, Jo, LfInflation francaise d*apres guerre, 1945-49° Paris,
Lib, Armand Colin, 1953OEEC, The Internal Financial Situation in Member and Associated Countries
^Report by a group of experts—Lo C. Robbins and others^/ New York,
Columbia U 0 Press, 1952.
Articles °o
Abs, H. Jo, "The Structure of the Western German Monetary System," EJ,
LX, Sept. 1950, pp. 481-8.
Balogh, T., "Monetary Restriction and Economic Progress," Bull„, OIS,
v0 14, July 1952, pp. 245-51°
Banker., The, 1949-53Bernstein,. Eo M., "Latent Inflations Problems and Policies," IMF—SP, I,
Feb. 1950, pp. I-I60
Blom, Fo W. Co, "Credit Control in the Netherlands, 1945-50," Banca
Nazionale del Lavoro, QR, July-Aug. 1951* PP° 139-46o
Bresciani-Turroni, C , "Monetary Policy and Internal Financial Stability,"
Review of Economic Conditions, in Italy, Novo 1952o
"Economic Reconstruction in Italy," LBR, JanQ 1948,
Cairncross, A. K., "The Economic Recovery of Western Germany," LBR,
Octo 1951o
Camu, Louis, "Post-war Financial and Monetary Developments in Belgium,"
NPBR, v. 22, May 1953, PPo 1-9°
Claude, Jean, "The French Monetary Experiment," The Banker, March 1948,
pp. 164-70o
Crick, Wo Fo, "Old and New Instruments of Monetary Policy," Societe
d'Economie Politique, March 1952«
Day, A. Co L., "Italy's Financial Policies Since the War," The Banker,
Jan. 1952, ppo 49-52.
Eastman, H. Co, "The Role of Speculation in French Foreign Exchange Criees,"
JPE, LXI, June 1953, pp. 209-20.
Federal Reserve Bank of New York, Monthly Review of Credit and Business
Conditions, current issues.
Federal Reserve Bulletin, current issues.
Gurley, J. G., "Excess Liquidity and Monetary Reforms," AER, v. 43, March
1953.
Hawtrey, R. G., "The Experts' Financial Report to the OEEC," The World
Today, Oct. 1952, pp. 439-46.
Heller, W. W., "The Role of Fiscal-Monetary Policy in German Economic
Recovery," AER, Supplement, v. 40, May 1950.
Hirschman, A. 0., "Inflation and Deflation in Italy," AER, v. 38, Sept.
1948, pp. 598-606.
and Ro V. Roosa, "Postwar Credit Controls in France,"
FRB, April 1949, pp» 348-60.
Jacobsson, Per, "Investment Without Inflation," Skandinaviska Banken, QR,
July 1953, PP° 53-7- "Knut Wicksell and Sweden's Monetary Policy,
1946-48," Schweizerische Zeitschrift fur Volkswirtschaft and
Statistik, v. &3, Dec. 1952.
"Mild Inflation for Ever?" Skandinaviska Banken, QR,
XXXIII, April 1952.
"Credit Policy1 Recent European Experience," Studies in
Business Economics. New York, NICB, 19520
"Return to an Active Credit Policy," Skandinaviska.Banken,
OP, Octo 1951, pp. 85-90.
36
Jacobsson, Per, "Monetary Improvements in Europe." Cairo, National
Bank of Egypt, Dec. 1950«
Keesing, F. A 0 Go, "The Monetary Evolution of the Netherlands, 1945-50/'
Public Finance, V, No. 4, 1950.
Klopstock, F. Ho, "Monetary Reform in Western Germany," JPE, Aug. 1949,
P p 0 277-92Kriz, Mo A., "Credit Control in France," AER, v, 41, March 1951°
Lutz, F. Ac, "The German Currency Reform and the Revival of the German
Economy," Economica, XVI, May 1949, PP° 122-42.
and Vera Lutz, "Monetary and Foreign Exchange Policy in
Italy" /Studies in International Finance No. \J.
Princeton,
Princeton U. Press, 1950.
Mendershausen, Ho, "Prices, Money, and the Distribution of Goods in
Postwar Germany," AER, v0 39, June 1949, PP° 646-72.
Menghini, G., "Bank Capital in Italy," Banca Nazionale del Lavoro, QR,
IV, April 1951, PP- 70-83Montgomery, A., "Postwar Economic Problems in Sweden," LBR, April 1948,
pp. 20-34.
Paquet, Ro, "The Economic Recovery of Belgium," MS, XVII, May 1949,
pp. 202-7.
Patel, I. G., "Monetary Policy in Postwar Years," IMF—SP, III, April
1953, PPo 69-131.
Pedersen, Jorgen, "Credit Policy Reviewed," Weltwirtschaftliches Archiv,
v. 67, No. 1, 1951, pp. 1-16.
"An Evaluation of Postwar Monetary Reforms,"
Weltwirtschaftliches Archiv, v, 62, No. 2, 1948, pp. 198-211.
Philip, Kjeld, "Interest and Public Expenditure Financed by the Central
Bank, RE+S, XXXIII, Nov. 1951, pp. 297-303»
Simpson, E Q S., "Inflation, Deflation and Employment in Italy," RES,
XVIl(i'), No. 44, 1949-50, pp. 203-25.
Snider, D. A., "French Monetary and Fiscal Policies Since the Liberation,"
AER, v. 38, June 1948, pp* 245-64.
Thunholm, Lars-Erik, "Sweden's New Drive Against Inflation," The Banker,
Deco 1951, pp. 363-80
Veit, Otto, "German Monetary Policy under Strain," International Affairs,
XXVII, Oct. 1951, pp. 457-62.
Verrijn Stuart, Go Mo, "Economic Policy in the Netherlands," LBR, Jan.
1953, PP* 37-43.
Wilson, J. So G., "France's Experiment in Credit Control," The Banker,
Jan. 1952, ppo 43-8,
XI o BUSINESS CYCLES AND INTERNATIONAL TRADE
A.
Foreign Trade Multiplier and Price-Income Elasticities
Bookso
Adler, J. H. and others, The Pattern of United States Import Trade Since
1923» New York, Federal Reserve Bank, 1952.
Chang, T. C , Cyclical Movements of the Balance of Payments. Cambridge,
Cambridge U. Press, 1951•
Machlup, Fritz, International Trade and the National Income Multiplier.
Philadelphia, Blakiston, 1S43Neisser, H. P. and F. Modigliani, National Income and International Trade.
Urbana, Uo of Illinois Press, /DecJ 1953-
37
Articles"
Adler, J* H., "U. S. Import Demand during the Interwar Period," AER,
v. 35, June 1945.
"The Postwar Demand for United States Exports," RE+S,
v. 2«, 1946, pp. 23-33.
Alexander, S*, "The Effect of a Devaluation on a Trade Balance," IMF—SP,
v. Ill, April 1952.
Allen, W. R„, "The Effects on Trade of Shifting Reciprocal Demand
Schedules," AER, v, 42, May 1952, pp0 135-40=
Balogh, T. and Po Streeten, "The Inappropriateness of Simple Elasticity
Concepts in the Analysis of International Trade," Bullo, OIS,
v. 13, March 1951Beckerman,;W., "Price Changes and the Stability of the Balance of Trade,"
Economica, v. 19, Nov. 1952, pp* 408-14.
Brown, A. J0, "The Fundamental Elasticities in International Trade," in
Oxford Studies in the Price Mechanism. Oxford, Clarendon, 1951*
pp0 91-106.
de Vries, B„, "Price Elasticities of Demand for Individual Commodities
Imported into the U.S.," IMF--SP, v. I, April 1951, PP* 397-419*
Federici, L.; "On the Validity of the Principles of the 'Foreign Trade
Multiplier1," EI, III, Aug* 1950, pp. 647-650
Harberger, A, Co, "A Structural Approach to the Problem of Import Demand,"
AER, Supplement, v. 43, May 1953, pp. 148-59.
Hawtrey, R. Go, "Multiplier Analysis and the Balance of Payments," EJ, LX,
March 1950, pp. 1-8.
Hinshaw, Randall, "American Prosperity and the British Balance of Payments,"
RE+S, XXVII, Feb. 1945 Hirschman, A. 0., "Devaluation and the Trade Balance," RE+S, XXXI, Feb*
1949.
Johnson, H. Go, "Diagrammatic Analysis of Income Variations and the
Balance of Payments," QJE, LXIV, Nov. 1950, pp. 623-32.
Kennedy, Charles, "Devaluation and the Terms of Trade," RES, XVIIl(l),
I949.5O, pp. 28-41.
Kindleberger, C. P., "Foreign Trade Multiplier, Propensity to Import
and Balance-of-Payments Equilibrium," AER, v. 39, March 1949,
pp. 491-4.
Koo, Anthony, "Income Elasticity of Demand for Imports," AER, v. 39,
Sept. 1949.
Machlup, Fo, "Elasticity Pessimism in International Trade," EI, III, Feb*
1950, pp. 118-37.
Meade, J. E., "National Income, National Expenditure, and the Balance of
Payments," EJ, LVII, Dec. 1948, pp. 483-505; LIX, March 1949,
PPo 17-39o
Metzler, Lo A., "Tariffs, the Terms of Trade, and the Distribution of
National Income," JPE, LVII, Feb0 1949, pp. 1-29.
"Underemployment Equilibrium in International Trade,"
Econometrica, X, April 1942, pp0 97-112.
Neisser, H. Po, "The U 0 S 0 Demand for Imports," AER, Supplement, v. 43,
May 1953, PP° 134-47.
"The Nature of Import Propensities and the Foreign Trade
Multiplier," EI, II, Aug. 1949*
Orcutt, Guy H., "Measurement of Price Elasticities in International Trade,"
RE+S, XXXII, May 1950, pp0 117-32.
Polak, J. J. and G. Haberler, "The Foreign Trade Multiplier," EJ, XXXVII,
Dec. 1947, pp. 889-907.
38
Rees, G. L., "Price Effects and the Foreign Trade Multiplier," RES, XX(3),
Noo 53, June 1953Robinson, Romney, "A Graphical Analysis of the Foreign Trade Multiplier,"
EJ, LXII, Sept0 1952o
Savosnik, K., "National Income, Exchange Rates and the Balance of Trade,"
Economica, XVII, May 1950; comment by W. Beckerman, ibido, XVIII,
Aug. 1951.
Stoljber, Wo F., "The Multiplier, Flexible Exchanges and the Level of
National Income," QJE, LXIV, Nov. 195O, pp0 559-80.
^ "The Volume of Foreign Trade and the Level of National
Income," QJE, LXI, Febo 1947, pp. 285-3IO0
Tinbergen, J., "Long-Term Foreign Trade Elasticities," Metroeconomica,
I, Nos. 2-3, Deco 1949Tsiang, So Co, "Balance of Payments and Domestic Flow of Income and
Expenditures," IMF--SP, I, Sept. 1950, pp. 254-88.
B*
International Aspects of Business-Cycle Disturbances
Books °0
Gordon, R* Ac, Business Fluctuations. New York, Harper, 1952, chs0 19-20.
Haberler, G., Prosperity and Depression» Lake Success, United Nations,
3rd ed., 1946, Pt. II, ch* 12.
Hamberg, Daniel, Business Cycles. New York, Macmillan, 1951* ch, 10.
Harrod, R. F., Towards a Dynamic Economics. New York, Macmillan, 1948International Economics<, London, Nisbet, 2d ed., 1939International Economic Association, Round Table on Business Cycle Problems
^Pembroke College, Oxford, Septo 195£/« London, Macmillan, 1953*
League of Nations, Economic Stability in the Post-War World. Princeton,
1945o
Neisser, Ho Po, Some International Aspects of the Business Cycle.
Philadelphia, Uo of Pennsylvania Press, 1936.
Simkin, C. G. F., The Instability of a Dependent Economy. London, Oxford,
Uo Press, 1951o
Tinbergen, Jo, Business Cycles in the United Kingdom, 1879-1914. Amsterdam,
North Holland Publishing Co 0 , 19510
and Jo Jo Polak, The Dynamics of Business Cycles0 Chicago,
U. of Chicago Press, 1950o
Wallich, Ho Co, Monetary Problems of an Export Economy—the Cuban
Experience, 1914-47. Cambridge, Harvard U. Press, 1950, Pt. 2.
Wood, G. L., Borrowing and Business in Australia. London, Oxford U0 Press,
1930 o
Articles^
Bryce, R. B., "The Effects on Canada of Industrial Fluctuations in the
United States,9' CJE+PS, V. Aug0 1939, pp. 378-86.
Forchheimer, Ko, "The 'Short Cycle1 in its International Aspects," 0EP,
Noo 7, March 1945»
Hilgerdt, F., "Foreign Trade and the Short Business Cycle," in Economic
Essays in Honour of Gustav Cassel. London, Allen & Urwin, 1933,
pp. 273-92.
Hirschman, A. 0o, "International Aspects of a Recession," AER, v. 39,
Dec. 1949.
39
Malach, Vernon, "External Determinants of the Canadian Upswing, 1921-29,"
CJE+PS, XVII, Feb. 1951.
Marcus, Edward, "Cyclical Turning Points: Canada, 1927-39," AER, v. 43,
Sept. 1953 "The Cyclical Adjustment Pattern of an 'Open Economy*^
Canada, 1927-39/' EJ, LXII, June 1952, PP* 305-17Meyer, Fo V. and W. A. Lewis, "Effects of an Overseas Slump on the
British Economy," MS, XVII, Sept. 1949, pp. 233-65Morgenstern, 0«, "On the International Spread of Business Cycles," JPE,
LI, 1943, PP* 287-309.
Neisser, H. P*, "The International Propagation of Income Changes,"
Metroeconomica, II, No0 1, April 1950o
Pesmazoglu, J. S., "Some International Aspects of German Cyclical
Fluctuations, 1880-1913," Weltwirtschaftliches Archiv, v, 64, No. 1,
1950, pp. 77-107
"Some International Aspects of British Cyclical
Fluctuations, 1880-1913," RES, XVl(3), No. 41, 1949-50o
"Quelques aspects internationqux des fluctuations
cycliques en France, 1880-1913," Revue di Economie Politique, v0 6l,
Jan,-Febo 1951°
Safarian, Ao E., "Foreign Trade and the Level of Economic Activity in
Canada in the 1930!s," CJE+PS, XVIII, Augo 1952o
Salant, Wo So, "Foreign Trade Policy in the Business Cycle," in Public
Policy, IIo Cambridge, Harvard U. Press, 1941. Reprinted in
Readings in the Theory of International Trade, Philadelphia,
Blakiston, 1949, pp. 201-26.
C»
National Employment Policies and External Equilibrium
Books:
Beveridge, Sir William, Full Employment in a Free Society. New York,
Norton, 1945, ch* 6.
Bouniatian, Mentor, Le probleme du piein emploi et les experts des
Nations Unies. Paris, Recueil Sirey, 1951*
Council of Europe, Full Employment Objectives in Relation to the Problem
of Economic Cooperation. Strasbourg, 1951°
Oxford Institute of Statistics, The Economics of Full Employment. Oxford,
Blackwell, 1947United Nations, Measures for International Stability ^Report by a group
of experts/Z New York, 1951*
National and International Measures for Full Employment
^Report by a group of experts/0 Lake Success, 1949*
Articleso
Barna, T., "Domestic Economic Policy and International Trade," ch0 3 in
Britain and Her Export Trade /ed. by Mr0 Abrams/o London, Pilot
Press, 1946, pp. 53-76.
Benham, F. Co, "Full Employment and International Trade," Economica,
XIII, Aug. 1946, ppo 159-68o
Brown, A 0 J0, "International Equilibrium and National Sovereignty under
Full Employment," IA, XXV, Octo 1949, pp. 434-42.
Fe'derici, L., "International Aspects of the Theory of Full Employment,"
EI, I, Nov. 1948.
40
Ealdor, N., "Employment Policies and the Problem of International
Balance," RES, XIX(l), No0 48, 1950-51, PP- 4 2 ~9"Stability and Full Employment," EJ, XLVIII, Dec. 1938,
5£7~£42-57°
Kalecki, M., "Multilateralism and Full Employment," CJE+PS, XII, Aug.
1946, pp0 322-7*
Kurihara, Ko, "The United Nations and Full Employment," JPE, LVIII, Augo
1950, P P . 353-58.
Rostow? W. Wo, "The United Nations* Report on Full Employment," EJ, LX,
June 1950, pp. 323-500
Viner, J., "Full Employment at Whatever Cost," QJE, LXIV, Aug. 1950,
PPo 385-407; comment by A, Smithies, ibido, NovG 1950, pp0 642-7.
Wallich, H. Co, "United Nations Report on Full Employment," AER, XL,
Dec. 1950, ppo 876-830
Webb, Leicester, "The Future of International Trade," World Politics,
V, July 1953, PPo 423-41o
Wilson, To, "Some International Aspects of Employment Policy," 0EP, III,
Feb, 1951.
Worswick, G. D. N., "A Stable and Expanding World Economy," DBR, June
1950.
D*
International Commodity Problems
Books 1
Bennett, Mo Ko and Associates, International Commodity Stockpiling as
an Economic Stabilizer. Stanford, Stanford U. Press, 1949*
Davis, J. S., International Commodity Agreements: Hope, Illusion or
Menace? New York, Carnegie Endowment for International Peace, 1947*
Graham, B.; World Commodities and World Currency. New York, McGraw-Hill,
1944.
International Labour Organization, Intergovernmental Commodity Control
Agreements. Montreal, 1943 •
Lamartine Yates, P. L Q , Commodity Control<, London,, Cape, 1943°
League of Nations, Economic Stability in the Post-War World, Princeton,
1945.
Raw Materials Problems and Policies. Geneva, 19460
Mason, E 0 S., Controlling World Trade. New York, McGraw-Hill, 1946.
President's Materials Policy Commission ^Paley Report/, "Foundations for
Growth and Security," v0 I in Resources for Freedom. Washington,
Do C , GP0, June 1952*
Royal Institute of International Affairs, World Production of Raw
Materials ^Information Papers No. 187*1 London, 1953United Nations, Review of International Commodity Problems» New York, 1953United States, National Security Resources Board, The Objectives of
UoS. Materials Policy and Suggested Initial Steps in Their ~
Accomplishment /Report by Chairman/. Washington, Do Co GP0, 19520
United States—Office of Defense Mobilization, Raw Materials Imports:
Area of Growing Dependency. Washington, GP0, 1953Wickizer, V. D., Coffee, Tea and Cocoa: an Economic and Political Analysis.
Stanford, Stanford U. Press, 1951.
41
Articleso
Banker, The, "Whither Commodities?" Aug. 1953, pp. 71-6; "Outlook for
Raw Materials," May 1953Bauer, P. To and F. W. Paish, "The Reduction of Fluctuations in the Incomes
of Primary Producers," EJ, LXII, DeCo 1952, pp0 750-80„
Beckerman, W 0 , "The Future of the ILKo's Long-Term Contracts," RES, XX(l),
No. 51, 1952-53, P P . 70-7.
Bissell, R. M., "The Impact of Rearmament on the Free World Economy," FA,
April 1951Black, Jo D. and So S. Tsou, "International Commodity Arrangements," QJE,
LVIII, Aug. 1944.
Davis, J. S., "Experience under Intergovernmental Commodity Agreements,"
JPE, v. 54, June 1946.
Golay, Fo H., "The International Wheat Agreement of 1949," QJE, LXIV, Aug.
1950, pp. 442-63.
Harbury, D, C , "Commodity Agreements and Price Fluctuations," EJ, LXI,
Sept. 1951, PP° 652-5, comment by H. Tyszinski, ibid., pp. 655-8.
Hobson, 0. R 0 , "The New Commodity Inflation," LBR, April 1951, PP° 27-41.
Johnson, H. G., "The De-stabilizing Effect of International Commodity
Agreements on the Prices of Primary Products," EJ, LX, Septo 1950,
PPo 626-7o
Kaldor, N., "A Reconsideration of the Economics of the International Wheat
Agreement" Commodity Policy Studies #±/.
Rome, FA0, Sept. 1952,
PPo 1-34.
Keynes, J. M*, "The Policy of Government Storage of Foodstuffs and Raw
Materials," EJ, XLVII, Septo 1938, pp. 449-60o
Lewis, W. A., "Food and Raw Materials," DBR, Septo 1951, PP- 1-11°
Lloyd, I. So, "A Twenty-Five Year Plan: Some Reflections on the Paley
Report," SAJE, v. 21, March 1953, pp. 16-30.
Mason, E. S., "An American View of Raw Materials Problems," JIE, v.„l,
Nov* 1952, pp0 l-20o
"Raw Materials, Rearmament, and Economic Development," QJE,
LXVI, Aug. 1952, PPo 327-41o
Morgan, D. J., "The Approach to International Commodity Problems," 3BR,
March 1950, pp. 21-30.
Porter, R. So, "Buffer Stocks and Economic Stability," 0EP, II, Jan.
1950, pPo 95-ll8o
Riefler, W. W., "A Proposal for an International Buffer Stock Agency,"
JPE, v. 54, Dec. 1946, pp. 538-46.
Saunders, C. T., "Consumption of Raw Materials in the U 0 K." JRSS, CXV,
Part III, 1952.
Stern, E. H., "The Future of Raw Material Prices," The Banker, May 1952.
"The Long-Term Outlook for Raw Materials," The Banker, v. 96,
May 1951.
Swerling,TB. Co, "Commodity Measures for International Economic Stability,"
CJE+PS, XVIII, Augo 1952, pp. 327-41o
"U.S. Commodity Imports in the Longer Run," EJ9 March 1952.
Triantis, S. G., "Cyclical Changes in the Balance of Merchandise Trade of
Countries Exporting Chiefly Primary Products, AER, v. 42, March 1952,
pp. 69-86.
Tyszynski, Ho, "Commodity Agreements and Price Fluctuations," EJ, Sept.
1951, PP» 653-8.
42
Tyszynski, H., "World Trade in Manufactured Commodities, 1899-1950,"
MS, XIX, Sept. 1951, ppo 272-304.
"A Note on International Commodity Agreements," Economica,
XVII, Nov. 1950, pp. 438-47.
"Economics of the Wheat Agreement," Economica, XVI, Feb.
1949.
Varon, F, R,, "On the Theory of Monopolistic Dumping and Commodity Price
Supports," SEJ, XVIII, Oct. 1951; PP° 228*32.
Zaglits, 0., "International Price Control through Buffer Stocks,"
Journal of Farm Economics, XXVIII, June 1946, pp. 413-33-
XII. ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE
A.
Theoretical Aspects of Economic GrowthBooks :
Akerman, J., Economic Progress and Economic Cycles. New York, Macmillan,
1932.
* Clark, Colin, The Conditions of Economic Progress. London, Macmillion,
2d rev. ed., 1951.
Haavelmo, T., Contribution to the Theory of Economic Evolution with
Particular Reference to the Problem of Backward Areas. Olso, Univ.
Socialokonomiske Institutt, 1952.
Harrod, Roy F., Towards a Dynamic Economics, New York, Macmillan, 1948.
Hobson, J. A., The Science of Wealth /rgvised by R. F. Harrod.7. London,
Oxford U. Press, 1950.
Kuznets, Simon, Economic Change, New York, Norton, 1953and others, Problems in the Study of Economic Growth.
New York, NBER, 1949Lundberg, Erik, Studies in the Theory of Economic Expansion* London,
King, 1937°
Mill, F. C , Productivity and Economic Progress. New York, NEER, 1952.
Mill, Jo S., Principles of Political Economy /Ashley e&J. New York,
Longmans, 1929•
Prebisch, Raul, Theoretical and Practical Problems of Economic Growth.
New York, UNESCO, May 1950.
Robinson, Joan, The Rate of Interest and Other Essays» London, Macmillan,
1952, chs. 2-3* Rostow, W. W., The Process of Economic Growth. New York:,. Norton, 1952.
Schumpeter, J. A., The Theory of Economic Development. Cambridge,
Harvard U, Press, 3rd ed., 19*9•
* Viner, Jacob, International Trade and Economic Development« Glencoe,
The Free Press, 1952.
Walker, E. Ronald, From Economic Theory to Policy* Chicago, U. of
Chicago Press, 19^39 chs. 7-8.
Articles;
Abramovitz, M., "Economics of Growth," ch. 4, in A Survey of Contemporary
Economics, II. Homewood, Irwin, 1952, pp. 132-82.
Allen, G. C , "Economic Progress, Retrospect and Prospect," EJ, LX,
Sept. 1950, pp. 463-80.
43
Dueseriberry, J. S. "Some Aspects of the Theory of Economic Development,"
Explorations in Entrepreneurial History., II, DEC. 15, 1950, pp. 63-102.
Frarikel, S. H., "Some Conceptual Aspects of International Economic
Development of Underdeveloped Territories" /Essays in International
Finance/« Princeton, Princeton U. Press, May 1952.
Harrod, R. F. "Supplement on Dynamic Theory," in Economic Essays.
London, Macmillan, 1952.
Hoselitz, Bo F., "Some Limitations of Induced Economic Growth,"
Explorations in Entrepreneurial History, II, May 1950, pp* 208-18*
Postan, M. Mo, "Economic Growth" /review article/, JEH, XI, Fall 1951,
pp. 325-380
Robinson, Joan, "The Model of an Expanding Economy," EJ, XLII, March
1952, pp. 42-53.
Schumpeter, J. A., "Economic Growth; Theoretical Problems," JEH
Supplement, VII, 194?, PP« 1-9Singer, H* W., "The Mechanics of Economic Development," 3ER, I, Aug. 1952,
pp. l-l8.
Usher, A. Po, "The Balance Sheet of Economic Development," JEH, XI,
Fall 1951, PP. 325-38o
Wallich, H. C , "Some Notes Towards a Theory of Derived Development."
^Havana paper, 1952/• New Haven, Yale U«, mimeographed.
B.
Basic Problems in the Development of Less Developed Countries
1. Financial Aspects of Economic Development
Books:
Buchanan, N. S. and H. S. Ellis, Achieving Economic Development.
New York, Twentieth Century Fund, /tentative/ 1953* Heller, W. W. and others, Savings in the Modern Economy: A Symposium»
Minneapolis, U. of Minnesota Press, 1953, chs. 15-17International Bank for Reconstruction & Development, Staff Memorandum
on Recent Proposals on Financing Development. Washington, 1951International Institute of Public Finance, Les aspects financiers,
fiscaux et budgetaires du developpement des pays sousdeveloppes.
The Hague, Van Stockum & Zoon, 1951•
Lowe, A. and H. G. Aubrey, Financing World Economic Development. New
York, Institute of World Affairs, /tentative/ 1953»
* Nurkse, Ragnar, Problems of Capital Formation in Underdeveloped Countries.
Oxford, Blackwell, 1953°
Some Aspects of Capital Accumulation in Underdeveloped
Countries» Cairo, National Bank of Egypt, 1952a
Prest, A. Ro, War Economics of Primary Producing Countries. Cambridge,
Cambridge Uo Press, 1948c
Schlesinger, E. R., "Multiple Exchange Rates and Economic Development"
/Studies in International Finance No. 2j.
Princeton, Princeton
U. Press, 1952.
Singh, B., Federal Finance and Underdeveloped Economy0 Bombay, Hind
Kitabs, 1952.
United Nations, Report on a Special UN Fund for Economic Development
submitted to the Secretary General by a Committee. New York, 1953 •
Mobilization of Domestic Capital in Certain Countries
of Asia and the Far East. New York, 1951.
44
United Nations, Domestic Financing of Economic Development. New York
1950.
Methods of Financing Economic Development in UnderDeveloped Countries. New York, 19^9•
Articles:
Adler, J. H., "The Fiscal and Monetary Implementation of Development
Programs," AER, Supplement, v. 42, May 1952, pp. 584-600.
Alter, G. M., "Desarrollo Economico sin Inflacion?" El Trimestre
Economico, XVII, 1950, pp. 214-32.
* Bernstein, E. M. and I. G. Patel, "Inflation in Relation to Economic
Development," IMF—SP, II, Nov, 1952, pp. 363-98
Bronfenbrenner, M., "The High Cost of Economic Development," Land
Economics, May 1953•
Chipman, John, "The Role of Idle Balances in Financing Investment,"
IER, I, Aug. 1952, pp*87-9*
Cirvante, V. R., "Problems of Investment in an Underdeveloped Economy,"
IJE, v. 30, April 1950, pp. 335-48o
Dembitz, L. N., "Financial Problems in the Advancement of Underdeveloped
Areas," GJIA, Spring 1950«
De Vries, E 0 , "Financial Aspects of Economic Development," in Formulation
and Economic Appraisal of Development Projects„ New York, United
Nations, 1951o
Finch, David, "Investment Service of Underdeveloped Countries," 3MF--SP,
Sept. 1951.
Grove, D. L., "Objectives and Potentialities of Monetary Policy in
Underdeveloped Countries." Washington, D.C., FRBd., 1952.
Hicks, U. K., "The Search for Revenue in Under-Developed Countries,"
Revue de Science et de Legislation Financieres, Jan--Mar. 1952.
Hunter, J. M., "Long-Term Foreign Investment and Underdeveloped Countries."
JPE, LXI, Feb. 1953, pp. 15-24.
Kahn, A. E., "Investment Criteria in Development," QJE, LXV, Feb. 1951,
pp. 38-61.
Leduc, Gaston, "Le sous-developpement et ses problems," Revue d^conomie
Politique, Mar„-April 1952*
Madan, B. K., "Form of Foreign Investment," India Quarterly, VIII, JulySept. 1952.
Mears, L. A., "Private Foreign Investment and Economic Development:
Venezuela, Saudi Arabia, and Puerto Rico," Inter-American Economic
Affairs, VII, Summer 1953.
Niebyl, K. H., "Criteria for the Formulation of an Adequate Approach in
Aiding the Development of Underdeveloped Areas," CJE+PS, XVIII,
Aug. 1952.
* Nurkse, Ragnar, "Some International Aspects of the Problem of Economic
Development," AER, Supplement, XLII, May 1952, pp. 571-83.
Pan American Union, "Economic Development and Monetary Stability" ^SSE
Doc. 18/53E7. Washington, D. C„, 1953 °
* Rao, V. K. R. V., "Deficit Financing, Capital Formation and Price
Behaviour in an Under-developed Economy," IER, I, Feb. 1953^ PP« 55-83.
"Investment, Income and the Multiplier in an Underdeveloped Economy," IER, I, Feb, 1952, pp* 55-67; comments by Ko N.
Raj and H. Banerji, ibido, Aug* 1952 > pp» 114-9.
"An International Development Authority," India
Quarterly, VIII, July-Sept. 1952.
~
45
Reeves, W. Ho and P. D* Dickens, "Private Foreign Investments: a Means
of World Economic Development/1 PSQ, v* 44, June 1949> pp. 211-44,
Triantis, S,, "Financing Under-developed Countries," CJE+PS, XVII,
May 1951.
* Wallich, H. C , "Underdeveloped Countries and the International Monetary
Mechanism," in Money, Trade, and Economic Growth. New York,
Macmillan, 1951, pp. 15-32.
Wu, Yuan-Li, "International Capital Investment and the Development of
Poor Countries," EJ, LVI, March 1946, pp. 86-101,
Zuntz, M,, "The Problem of Proinflationary Bias in Underdeveloped Countries
and Its Possible Solution," CEC, v. 15, Feb. 1953 > pp. 31-40.
"Some Observations on Monetary Policy in Underdeveloped
aL_
Countries," Journal of Economic Development and Cultural Change,
Dec. 1952.
'
' '
""
Other Theoretical and Practical Aspects of World Economic Development
Books:
Brozen, Yale, "Technological Change in Underdeveloped Countries,"
Explorations in Entrepreneurial History, III, Feb. 1951j PP- 142-60.
Brown, A. J., Industrialization and Trade. London, RIIA, 19*3•
Buchanan, N. S. and F. A. Lutz, Rebuilding the World Economy. New
York, Twentieth Century Fund, 1947.
Chang, Pei-Kang, Agriculture and Industrialization. Cambridge, Harvard
U. Press, 1949.
Datta, B., The Economics of Industrialisation: Study of the Basic
Problems of an Underdeveloped Economy. Calcutta, World Press, 1952.
Dobb, M., "Some Aspects of Economic Development" /Occasional Papers No. 3j.
Delhi, Delhi School of Economics, 1951.
Ezekiel, M. JJ*&J> Toward World Prosperity through Industrial and
Agricultural Development and Expansion,, New York, Harper, 1947*
* Frankel, S. H., The Economic Impact on Under-developed Societies. Oxford,
Blackwell, 1953The Concept of Colonization. Oxford, Clarendon, 1949,
Haselitz, B, F. /edo/, The Progress of Underdeveloped Areas. Chicago,
U. of Chicago Press, 1952.
International Assn. for Research in Income and Wealth, Income and Wealth
fe&o by Milton Gilbert/. Cambridge, Bowes & Bowes, 1953.? chs. 6-9°
League of Nations, Industrialization and Foreign Trade, Geneva, 1945Mandelbaum, K., The Industrialisation of Backward Areas „ Oxford,
Blackwell, 1945.
Moore, Wilbert E., Industrialization and Labor, Ithaca, Cornell U* Press,
1951.
Ojala, E. M., Agriculture and Economic Progress. London, Oxford U.
Press, 1952•
P.E.Po, "Planned Development in the Less Developed Countries" ^Planning
Pamphlet/. XIX, No. 351, Feb. 16, 1953"The Strategy of World Economic Development, XVII, No. 327, 1951.
Staley, Eugene, World Economic Development. Montreal, ILO, 1944.
Stamp, Dudley, Our Underdeveloped World. London, Faber, 1953Land for Tomorrow. Bloomington, Indiana U. Press, 1952.
* United Nations, Measures for the Economic Development of Under-Developed
Countries /^Report by a group of independent experts/. New York,
May 1951.
Wilson, Sir Harold, The War on World Poverty. London, Gollancz, 1953.
2.
46
Articles:
Adler, J. H., "The Underdeveloped Areas: Their Industrialization"
/Memorandum No. 3l7- New Haven, Yale Institute of International
Studies, March 31, 1949.
Aubrey, H. G., "Small Industry in Economic Development," Social
Research, v. 18, Sept. 1951*
"Deliberate Industrialization," Social Research, v. 17,
June 1949, pp. 158-82.
Balakrishha, R., "Role of Tariffs in Economic Expansion," IJE, Oct. 1947.
Bauer, P. T. and B. S. Yamey, "Economic Progress and Occupational
Distribution," EJ, LXI, Dec. 1951, pp. 741-56.
Bean, L. H., "International Industrialization and Per Capita Income," in
Studies in Income and Wealth, Vol. 8. New York, MBER, 19^6,
pp. 122-40.
Brown, A. J., "Problems of Under-developed Countries," EJ, IX, Sept. 1950,
PPo 631-3.
Brozen, Yale, "Technological Change in Underdeveloped Countries," III,
Feb. 1951, pp. 142-60.
Buchanan, N. S., "Deliberate Industrialization for Higher Incomes," EJ,
LVI, Dec. 1946, pp. 533-531 also comments by T. Balogh, ibid.,
LVII, June 1947, and H. Belshaw, Sept. 1947Chambers, F. Po, "The Agrarian Problem in the Underdeveloped Areas," in
The Yearbook of World Affairs jfei. by G. W. Keston and
G. Schwarzeriberger/. London, Stevens, 1953 > vol. 7Fowke, V. C , "Progress, Poverty, and Inter-Regional Disequilibrium,"
CJE+PS, v. 17, Nov. 1951, pp. 501-14o
Frankel, S, H., "United Nations Primer for Development," QJE, LXVT,
Aug. 1952, ppo 301-26, and included in The Economic Impact on
Underdeveloped Societies; see also comment by Wo A. Lewis and others,
QJE, IXVII, May 1953, PP* 267-850
"The Industrialization of Agricultural Countries," EJ,
LIII, June-Sept. 1943°
* Gadgil, D. R., "Preconditions of Economic Development," IER, I, Feb. 1952.
Ganguli, B. N., "Principles of Protection in the Context of Under-developed
Countries," IER, I, Feb. 1952, pp- 21-38,
Gregory, Sir Theodore, "The Problems Of the Underdeveloped World," LBR,
Oct. 1948, pp. 39-55.
Hirschman, A. 0.,y "Industrial Nations and Industrialisation of Underdeveloped Countries," EI, IV, Aug. 1951> pp. 606-22.
Holton, Richard H., "Marketing Structure and Economic Development," QJE,
IXVII, Aug. 1953> PP° 344-61.
Hunter, J. M., "The Development of Low Income Countries," in Papers of
the Michigan Academy of Science, Arts and Letters ^ed. by E. S,
McCartney and F. Ho Sparrow/* Ann Arbor, U* of Michigan, 1952•
Jewkes, John, "The Growth of World Industry," MSS, Session 1949-50.
Lewis, W. A., "Planning in Backward Areas," in The Principles of Economic
Planning. Washington, D.C., Public Affairs Press, 1951 > Appendix.
"Developing Colonial Agriculture," 3BR, June 1949.
Mendershausen, Ha, "The Pattern of Overseas Economic Development in
World War II: Its Significance for the Present," EI, IV, Aug. 1951,
pp. 1-28.
McLeod, A. N. and H, W. Singer, "Trade and Investment in Underdeveloped
Areas," AER, v. 41, June 1951, pp* 411-21.
Naidu, B. U. N., "Planning in Underdeveloped Countries," IER, I, July 1953
47
Nicholls, W. H., "Domestic Trade in an Underdeveloped Country—Turkey/1
JPE, LIX, Dec. 1951, pp. 463-80.
Oshima, H. , "The Price System and National Income and Product/1 RE+S,
XXXIII, Aug- 1951, pp. 248-54Rotteriberg, S., "Income and Leisure in an Underdeveloped Economy,11
JPE, IX, April 1952, pp. 95-101.
_^
"The Immobility of Labour in Underdeveloped Areas/1 SAJE,
v. 19, Dec. 1951, pp. 40-8.
Sawyer, J. E., "Social Structure and Economic Progress, AER, v 41,
May 1951, PP. 321-9*
Seers, Dudley, "The Use of National Income Calculations in Underdeveloped
Countries/1 RES, XX(3), No* 53, June 1953.
Singer, H* W., "Obstacles to Economic Development," Social Research, XX,
Spring 1953, PP. 19-31o
"Economic Progress in Underdeveloped Countries," Social,
Research, XVI, March 1949, pp 0 1-11 •
Solomon, M., "Structure of the Market in Underdeveloped Economies," QJE,
LXII, Aug. 1948.
Spengler, J. J., "Economic Factors in the Development of Densely
Populated Areas," Proceedings of the American Philosophical Society,
Feb. 1951, pp. 20-53.
Stepanek, J. E. and C. Ha Prien, "The Role of Rural Industries in
Underdeveloped Areas," Pacific Affairs, v. 23> March 1950.
Wu, Yuan-Li, "A Note on the Postwar Industrialization of 'Backward1
Countries and Centralist Planning," Economica, XII, Aug. 1'945>
pp. 172-8.
3. Developmental Economics of Particular Areas: Some Selected Studies:
a. Africa
Books:
Batten, T. R., Problems of African Development. London, Oxford U. Press,
v. I, 1947, v. II, 1948,
Centre d'Etudes de Politique Etrangere, Industrialisation de llAfrique
du Nord. Paris, Lib. Armand Colin, 1952.
Chukvruemeka, Nwankwo, Industrialization of Nigeriao New York, WilliamFrederick Press, 1952.
African Dependencies 1 A Challenge to Western
Democracy. New York, William-Frederick Press, 1950•
Frankel, S. H., Capital Investment in Africac London, Oxford U. Press!,
1938.
Gourou, Pierre, The Tropical Worlds London, Longmans, 1953•
Seers, Do and Co R* Ross, Report on Financial and Physical Problems of
Development in the Gold Coast. Accra, GP0, 1952°
Stamp, L. Do, Africa: A Study in Tropical Development, New York,
Wiley, 1953.
United Nations, World Economic Situation: Aspects of Economie
Development in Africa. New York, March 1953 •
48
Articles:
Cox-George, N. Ao, "Some Problems of Financing Development in Sierra*
Leone," Public Finance, VIII, Noe 2, 1953; pp. 114-34.
Elopstock, F. Ho, "Agricultural Development in Tropical Africa,"
Social Research, v, l6, June 1950; PP» 168-87*
Stanner, W. E. H., "Observations on Colonial Planning," International
Affairs, XXV, July 1949; pp. 318-28,
b.
The Far East
Books:
Allen, G. Co, A Short Economic History of Modern Japan, 1867-1937*
London, Allen'& Uhwin, 1946.
Boeke, J. H*, The Evolution of the Netherlands Indies Economy. New York,
Institute of Pacific Relations, 1946c
Cohen, J* B«, Japan's Economy in War and Reconstruct ion« Minneapolis,
U. of Minnesota Press, 1949•
Economic Problems of Free Japan, Princeton, Center of
International Studies, 1952o
Hubbard, G. E., Eastern Industrialization and Its Effects on the West.
London, Oxford U. Press, 1935•
Institute of Pacific Relations, The Development of Upland Areas in the
Far East, New York, 1949 0
Reischauer, E. 0. and others, Japan and America Today0 Stanford,
Stanford U. Press, 19530
Remer, C. F., Foreign Investment in China• New York, Macmillan, 1933Reubens, E. Po, Real Capital Formation in the Far Easto Ithaca,
Cornell U* Press, 1953»
Robequain, Co, The Economic Development of French Indo-Chinao New York,
Oxford U. Press, rev* ed„, 1944.
Schumpeter, E. B* /ecL^J, The Industrialization of Japan and ManchukUo.
New York, Macmillan, 1940,
Vinacke, H. M., The United States and the Far East, 1945-51. Stanford,
Stanford U. Press, 1952.
Zinkin, M., Asia and the West, New York, Institute of Pacific Relations,
1952.
Articles;
Ackerman, Edward, "The Industrial and Commercial Prospect" in Japftnf s
Prospect /e&. by Do G. Haring/* Cambridge, Harvard U. Press, 1946.
Belshaw, H., "Agricultural Reconstruction in the Far East" ^Secretariat
Paper No. 37° New York, Institute of Pacific Relations, 1947•
Hsieh, Chiang, "^Underemployment in Asia," International Labour Review,
L5CV, June 1952, pp* 703-25; IXVI, July 1953Johnson, Bruce F«, "Agricultural Productivity and Economic Development
in Japan," JPE, LIX, Dec. 1951, PP° 498-513Paauw, D. S., "Chinese National Expenditures in the Nanking Period,"
Far Eastern Quarterly, v. 12, Nov. 1952.
Reubens, E. P., "Foreign Capital in Economic Development: A Case Study
of Japan," in Modernization Programs in Relation to Human Resources.
New York, Milbank Memorial Fund, 1950.
49
Rosen, George, "Japanese Industry Since the War/1 QJE, LXVII, Aug. 1953,
pp. 445-63.
"Patterns of Far Eastern Industrial Development"
i _ < i _^
^Secretariat Paper No. 5/- New York, Institute of Pacific
Relations, 1950.
Zinkin, Maurice, "Problems of Economic Development in Asia." New York,
Institute of Pacific Relations, 1953•
c. Near and Middle East
Books:
Allen, H. Bo, Rural Reconstruction in Action: Experience in Near and
Middle East. Ithaca, Cornell U. Press, 1953°
Bonne, Alfred, State and Economics in the Middle East: A Society in
Transition"! London, Kegan Paul, 1948.
The Economic Development of the Middle East. New York,
Oxford U. Press, 1945.
,
Cooke, Hedley, V., Challenge and Response in the Middle East,' The Quest
for Prosperity" New York, Harper, 1952.
Hurewitz, J. C , Middle East Dilemmas. New York, Harper, 1953*
Issawi, Charles, Egypt; An Economic and Social Analysis0 London,
Oxford U. Press, 1947.
Mikesell, R. F. and Ho Bo Chenery, Arabian Oil. Chapel Hill, U. of
North Carolina Press, 1949.
Nathan, Robert and others, Palestine: Problem and Promise, an Economic
Study. Washington, American Council on Public Affairs, 1946.
RIIA, The Middle East, Policy and Economic Survey. London, 1950•
Thornburg, M. and others, Turkey: Ah Economic Appraisal. New York,
Twentieth Century Fund, 1949.
Twitchell, K. S. and E. Ja Jurji, Saudi Arabia. Princeton, Princeton U*
Press, 1953o
United Nations, Review of Economic Conditions in the Middle East 1951-52°
New York, Feb. 1953•
Final Report of Economic Survey fission for the Middle
East. New York, 1950.
Warriner, Doreen, Land and Poverty in the Middle East. London, RIIA, 1948.
Articles:
Bochenski, F. and W. Diamond, MTVA!s in the Middle East," MEJ, July 1950.
Clapp, Gordon, "Technical and Economic Partnership," Proceedings of
Middle East Institute Conference, 1950Diamond, William, The Industrial Development Bpxik of Turkey," ME J, IV,
July 1950, pp. 349-52.
Harris, F. S: "The Beginnings of Point Four; Work in Iran,". MEJ, VII,
Spring 1953. PP. 222-34.
Issawi, Charles, "A Note, on the Conditions of Economic Progress in the
Middle East," Journal of Economic Development and Cultural Change,
Dec, 1952, pp. 289-94.
Kerwin, Ro W., "Private Enterprise in Turkish Industrial Development,"
MEJ, Winter 1951.
Lewis, Bernard, "Recent Developments in Turkey," IA, July 1951*
Lotz, J. D. and S. Ro Shafaq, "The Iranian Seven Year Development Plan,"
MEJ, IV, Jan. 1950.
Robinson, R. D., "The Lesson of Turkey," MEJ, Autumn 1951.
50
Singer, Ho Wo, "Capital Requirements for the Economic Development of the
Middle East/1 Middle Eastern Affairs, III, Febo 1952, pp. 35-40,
Tannous, Afif, "Land Reform: Key to the Development and Stability of
the Arab World/1 ME J, Winter 1951.
Weinryb, B. D., "International Development of the Near East/1 QJE, LXI,
May 1947, PP. m - 9 9 •
d.
Latin America and the Caribbean Area
Books:
Adler, J. H. and others, Public Finance and Economic Development in
Guatemala» Stanford, Stanford Uo Press, 1952.
Ellsworth, Paul T*, Chile, An Economy in Trans it ion . New York, Macmillan,
1945.
~
Hughlett, L. J* ^ed_/7, Industrialization of Latin America. New York,
McGraw-Hill, 1946, ch. 1.
May, Stacy, Costa Rica: A Study in Economic Development* New York,
Twentieth Century Fund, 1952o
Mosk, So Ao, Industrial Revolution in Mexico» Berkeley, Uo of California
Press, 1950 *
and Miron Burgin, Economic Problems of Latin America.
Berkeley, U. of California Press, ^tentative/ 1953•
Nelson, Lowry, Rural Cuba* Minneapolis, U. of Minnesota Press, 1950•
Perloff, Ho S., Puerto Rico?s Economic Future--A Study in Planned
Developmenta Chicago, Uo of Chicago Press, 1950«
Simey, TP SO, Welfare and Planning in the West Indies. New York,
Oxford Uo Press, 1947 „
Spiegel, H. W., The Brazilian Economy: Chronic Inflation and Sporadic
Industrialization, Philadelphia, Blakiston, 1949°
United Nations, Economic Survey for Latin America, 1951-52* New York,
ECLA, 1953.
Report of the UN Mission of Technical Assistance to
Bolivia o New York 1951Report of the UN Economic Commission to Chile, 1949-50.
New York, 1951.
The Economic Development of Latin America and Its Principal
Problems. Lake Success, 1950.
Wallich, H. C , Monetary Problems of an Export Economy: the Cuban
Experience, 1914-17» Cambridge, Harvard U. Press, 1951•
and J0 Ho Adler, Public Finance in a Dveloping Country:
El Salvador, A Case Study, Cambridge, Harvard Uo Press, 1951•
Whetten, N. L*, Rural Mexico, Chicago, U, of Chicago Press, 1951*
Wythe, George and others, Brazil: An Expanding Economy. New York,
Twentieth Century Fund, 1949.
Articless
Ahumada, Jorge, "Desarrollo economico y estabilidad," El Trimestre
Economico, XVIII, July-Sept0 1951•
Beveraggi-Allende, W 0 M», "Impacto de las inversiones en America Latina,"
El Trimestre Economico, XX,, Jan0 -Mar. 1953, PP° 122-40»
Britnell, G. E v "Problems of Economic and Social Change in Guatemala,"
CJE+PS, v. 17, Novo 1951, PPo 468-81o
51
Caldwell, L. K,, "Technical Assistance and Administrative Reform in
Colombia/1 APSR, XEVII, June 1953, PP* 294-310.
Carrillo Flores, M., "El desarrollo economico de Mexico, reflexiones
sobre un caso latinamericano," Cuadernos Americanos, Sept.-Oct• 1948*
Carlson, R. E., "Economic Development in Central America," Inter-American
Economic Affairs, II, Autumn 1948, pp. 5-29.
Dorfman, A*, "Latin American Economic Problems and International Cooperation," International Labour Review, LVIIIr, Nov. 19^8, pp0 601-24„
Florence, S. and A. Lewis, "The Industrialisation of the British West
Indies," Caribbean Economic Review, May 1950*
Federal Reserve Bulletin, "U. S. Postwar Investment in Latin America,"
v- 39, May 1953, PPo 445-50.
Grove, D. L., "The Potentialities of Monetary Policy in the Economic
Development of Latin America*," Washington, D. C , FRBd, 1951*
Huggins, H. D., "Employment, Economic Development and Incentive Financing
in Jamaica," Social and Economic Studies, I, Feb. 1953, PP- 1-60.
Hunter, J0 M., "Investment as-a Factor in l^he Economic Development of
Cuba, 1899-1935>" Inter-American Economic Affairs, V, Winter 1951,
pp0 82-100.
Lepawsky, Ao, "The Bolivian Operation: New Trends in Technical Assistance,"
IC, No, 479, March 1952»
Marquez, J., "Canalizacion de las inversiones hacia el desarrollo
economico en America Latina," El Trimestre Economico, XVIII,
Jan.-Mar. 1951*
"Notes on Balance of Payments Problems in Relation to
Economic Development in Latin America," Inter-American Economic
Affairs, I, Sept. 1947, pp. 104-17.
Mena, Raul Ortiz and others, "Mexico: Desarrollo Economico y Capacidad
para Absorber Capital del Exterior," Problemas Agricolas e
Industriales de Mexico, IV, No. 3, 1952, pp. 15-26.
Mendershausen,H,., "Economic and Fiscal Problems of a Colombian Department,"
Inter-American Economic Affairs, VI, Spring 1953> pp. 49-89.
Pazos, Felipe, "Desarrollo economico y estabilidad financiera, El Trimestre
Economico, XIX, April-June 1952, pp. 193-236; comment by J. H. Adler,
ibid., July-Sept. 1952, pp. 530-9.
"Inflation and Exchange Stability in Latin America," AER,
Supplement, v. 39, May 1949, PP* 396-405.
Perloff, Ho S., "The United States and the Economic Development of Puerto
Rico," JEH, Winter 1952, pp. 45-59*
Powell, J. R 0 , "Notes on Latin American Industrialization," InterAmerican Economic Affairs, VI, Winter 1952, pp. 82-93Sarda, Juan, "Some Aspects of Economic Development in Venezuela,"
Inter-American Economic Affairs, VI, Summer 1952, pp. 29-39Warren, H. G.,""Economic Aid for Latin America," Inter-American Economic
Affairs, V, Spring 1952, pp. 92-108.
XII•
C.
Commonwealth Economic Development
1. Britain's Role in Earlier Commonwealth Economic Development
Books:
Agrawal, A. N. fe&J,
Industrial Problems of India. Delhi, Ran jit, 1952.
Anstey, Vera, The Economic Development of India /to 19397* N e w York,
Longmans, 4th ed., 1952•
'
52
Ashworth, William, A Short History of the International Economy,
1850-1950o New York, Longmans, 1952Banerjea, P., A Study of Indian Economics, Calcutta, U. of Calcutta,
6th ed., 1951.
Benham, F. Co, The Prosperity of Australia: an Economic Analysis.
London, King, 2d ed., 1933Cairncross, A. K., Home and Foreign Investment, l870-19I3j Cambridge,
Cambridge U. Press, 1953Currie, A. W., Canadian Economic Development. Toronto, Nelson, 1942.
Feis, Herbert, Europe the World's Banker, 1820-1914* New Haven, Yale
University Press, 1930.
Gayer, A. D. and others, The Growth and Fluctuation of the British
Economy, 1790-1850- London, Oxford U. Press, 1952, 2 vols.
Heaton, Herbert, A History of Trade and Commerce with Special Reference
to Canada. Toronto, Nelson, 3rd ed,, 1939Hobson, C. K., The Export of Capital. London, Allen & Unwin, 1914.
Jenks, L. H., The Migration of British Capital to 1875- New York,
Knopf, 1927.
Khowles, L. C. A., The Economic Development of British Overseas Empire.
London, Routledge, 2d ed*, 1936, v. 1.
Rostow, W. W., British Economy in the" 19th Century. Oxford, Clarendon,
1948.
Schlote, Werner, British Overseas Trade from 1700'to the Nineteen
Thirties. Oxford, Blackwell, 1952.
Shaw, A. G. L., The Economic Development of Australia. London, Longmans,
1944.
Thomas, Brinley, Migration and Economic Growth, A Study of Great Britain
and the Atlantic Economy, 1830-1950° Cambridge, Cambridge U. Press,
1953.
Articles:
Clark, Colin, "Australian Economic Progress Against a World Background"
^Joseph Fisher Lecture in Commerce^ Adelaide, U* of Adelaide,
1938.
Gallagher, Jo and R* Robinson, "The Imperialism of Free Trade," JEH,
2d ser,, VI, Aug, 1953, pp. 1-15Imlah, A. H., "British Balance of Payments and Export of Capital,
1816-1913,n EHR, 2d ser, V., 1952.
Innis, H. A., "Significant Factors in Canadian Economic Development,"
Canadian Historical Review, Dec0 1937> PP° 374-84,
Jenks, L. H., "British Experience with Foreign Investments," JEH,
Supplement, Dec. 1944.
Knox, F. A., "Trade and the World Economy," ch. 23 in Canada ^ed. by
G. W. Brown/. Berkeley, U. of California Press, 1950.
Lenfant, J. H., "Great Britain's Capital Formation, 1865-1914,"
Economica, XVIII, May 1951* PP- 151-68.
Pares, R., "Economic Factors in the History of the Empire," EHR, 1937.
Pentland, H. C.^ "The Role of Capital in Canadian Economic Development
before 1873-11 CJE+PS, XVI, Nov. 1950, pp* 457-74; further
comments, ibid., XIX, Aug. 1953> PP* 403-10.
Plumptre, A. F. W., "The Nature of Political and Economic Development in
the British Dominions," CJE+PS, III, Nov. 1937.
Rostov, W. Wo, "The Historical Analysis of the Terms of Trade," EHR,
IV, No. 1, 1951, PP° 53-76o
Samuel, A. M., "Has Foreign Investment Paid," EJ, XX, 1930.
53
Silverman, A. G., "Some International Trade Factors for Great Britain/1
1880-1913/' RE+S, v. X, Aug. 1931.
Thomas^ Brinley, "Migration and the Rhythm of Economic Growth,
1830-1913/ MS, XIX, Sept, 1951, pp. 215-71*
2.
Commonwealth Economic Development in Recent Years: The Colombo Plan
Books:
Canada, Dept. of External Affairs, The Colombo Plan, External Affairs,
V, April 1953, PP« 102-10; May 1953, pp. 138-47.
Commonwealth Consultative Committee0 The Colombo Plan for Co-operative
Economic Development in South East Asia* London, HMSO, 1950.
Copland, D. B G , Inflation and Expansion, Melbourne, Cheshires, 1951°
Frankel, S. H., The Concept of Colonization, Oxford, Clarendon, 1949Furnival, J. S., Colonial Policy and Practice: A Comparative Study of
Burma and Netherlands India, Cambridge, Cambridge U. Press, 1949.
Gibson, J, D« /ed»/ Canada's Economy in a Changing World. Toronto,
Macmillan, 1948.
Hancock, W 0 K., The Wealth of Colonies, Cambridge, Cambridge U, Press,
1950.
Holder, Ro F. and others, Australian Production and the Crossroads»
Sydney, Angus & Robertson, 1950.
Lakadawala, D. To, International Aspects of Indian Economic Development.
Bombay, Oxford Uo Press, 1951*
Leubuscher, Co, The Processing of Colonial Raw Materials: A Study of
Location, London, HMSO, 1951°
Perham, M., The Economics of a Tropical Dependency. London, 1952.
Rao, V. K. R. Vo, The Structure of Asia's Economy. New Delhi, Indian
Council of World Affairs, 1953*
Reksoatmodjo, Harsano, Problems of Foreign Capital in Indonesia. New
York, Graphics Group> 1952.
Sarma, S., Foreign Investments in India. Calcutta, Prakasani, 1951Sovani, N. V., Planning of Post-War Economic Development in India.
Poona, Gokhale Institute of Politics 8c Economics, 1951Post-War Inflation in India—A Survey, Poona, Gokhale,
Institute of Politics & Economics, 1949,
Talbot, Phillips /ed,J}
South Asia in the World Today, Chicago, U. of
Chicago Press, 1950.
Thayer, P. W. Jed.J,
Southeast Asia in the Coming World. Baltimore,
Johns Hopkins Press, 1953> Part 2.
Vakil, C. N. and P. R, Brahmananda, Planning for a Shortage Economy:
the Indian Experiment. Bombay, Vora, 1952.
Zacharias, C* W*, The Finance of Indian Planning„ Bombay, Vora, 1948c
Articles:
Ady, Peter, "Britain and Overseas Development," ch. 25 in The British
Economy, 1945-50. Oxford, Clarendon, 1952, pp. 550-73.
Z Z Z Z "Colonial Industrialisation and British Employment," RES,
XI (No. 1) 1945.
Anstey, Vera, "The Colombo Plan with Special Reference to India and
Pakistan," EI, V, Febo 1952, pp. 134-47.
54
Akhtar, S» M,; The Colombo Plan with Special Reference to Pakistan/1
EI, V, May 1952.
Australia, Dept. of External Affairs, "Progress under the Colombo
Plan," Current Notes on International Affairs, v„ 23, Oct. 1952,
pp. 554-61.
Banker, The, "What Sort of Commonwealth Development?" Nov* 1952,
pp. 265-70.
"What is the Commonwealth's Plan?" Jan, 1953, PP* 7-12,
"Britain, India and the Spender Plan," Nov. 1950o
Bensusan-Butt, D. M*, "Investment and Immigration in Australia in the
1950fs," ER, Dec. 1950.
Bhattacharyya, K, No, "Fiscal and Monetary Policy in Planning—A Study
of Indian Problems," IJC, XXII, April 1952, pp* 395-401.
Brown, H. P., "Looking Ahead." Commonwealth Bank of Australia, Aug. 1951°
Burton, H., "The Growth of the Australian Economy," in Australia /ed. by
C. Hartley Grattan.7. Berkeley, U. of California Press, 1947.~
Caine, Sydney, "British Experience in Overseas Development," The Annals
of the Acad, of Pol. Sci., July 1950, pp. 118-25.
Carr-Gregg, J. R. E., "The Colombo Plan: A Commonwealth Program for
Southeast Asia," International Conciliation #467, 1951Cohen, J. B., "The Colombo Plan for Cooperative Economic Development,"
ME J, V, Winter 1951.
"Economic Development in Pakistan," Land Economics,
XXIX, Feb. 1953.
Ellsworth, P. T., "Factors in the Economic Development of Ceylon," AER,
Supplement, v, 43, May 1953, pp. 115-25Fitzgerald, G., "Commonwealth Resources and the Point Four Program,"
World Affairs, V, April 1951, PP« 222-32.
Ganguli, B. N., "India*s Economic Relations with the Pacific Areas and
the Far East." New Delhi, Indian Council of World Affairs,
June 1952.
Haddon-Cave, C. P., "Some Aspects of Private International Investments
with Special Reference to Australia." Perth, Australian and
New Zealand Assna for the Advancement of Science, mimeoa, 194=7Hassan, M., "Financing of Economic Development in Pakistan," ^Pakistan/
Economics and Commerce, v. I, No„ 6, June 1952»
""
Hulton, Graham, "Economic Prospects of the New Era," DBR, June 1953>
pp. 1-17.
Huyck, B. E., The Colombo Plan: Progress on the Sub-continent," ME J,
v, 7, Winter 1953.
Lewis, W. Arthur, "Reflections on South-East Asia," 3BR, Dec. 1952,
pp. 3-20.
"Colonial Development," MSS, Session 1948-49*
"Developing Colonial Agriculture," 3BR, June 1949.
Lisle, Edmond, "^Note sur les investissenjents britanniques dans la zone
sterling," Economic Applique, VI, No. 1, Jan.-Mar. 1953, pp. 237-63.
Mansergh, N., "Cooperation in External Policy: Some Implications of the
Colombo Conference," Parliamentary Affairs, IV, Winter 1951.
Nanjundan, S., "Economic Development of Malaya," India Quarterly, v. 8,
July 1952, pp. 289-311.
Narasimhan, P. S., "Technical Assistance for Economic Development of
Underdeveloped Countries," India Quarterly, v. 8, Apr.-June 1952,
pp. 142-56.
Planning, "South Asia," P.E.P. XVI, No. 315, June 26, 1950.
55
Prasad, P. S. Narayan, "The Colombo Plan," India Quarterly, v. 8,
April-June 1952, pp. 158-69.
Qureshi, M. L., "Economic Development of Pakistan," India Quarterly,
v. 8, July 1952, pp. 269-84.
Rao, V. K. R. V., "The Colombo Plan for. Economic Development: an
Indian View," LBR, July 1951, pp. 12-32.
Spender, P. C , "Partnership with Asia," FA, Jan. 1951*
Tinbergen, Jan, "Capital Formation and the Five-Year Plan," IEJ, I,
July 1953.
Wilson, J. S. G*, "The Colombo Plan for Cooperative Economic Development
in South and South East Asia," in Les aspects financiers, fiscaux
et budgetaires du developpement des pays sous-developpes.
Wolf Charles, "Economic Development and Reform in South and Southeast
Asia," Far Eastern Quarterly, v. 12, Nov* 1952.
D*
International Technical Assistance Programs
1. Evolution of the U.S. Point Four Program
/See also Section VI-B-3/
Books:
American Academy of Political and Social Science, "Aiding Underdeveloped
Areas Abroad," The Annals, v. 268, March 1950.
^ "Formulating a
Point Four Program," The Annals, v, 270, July 1950.
Brookings Institution, Major Problems of United States Foreign Policy
/annual/. Washington, D.C., 1952, pp. 143-8, 347-51] 1951,
pp. 134-40, 206-12; 1950, pp. 120-9, 329-33; 1949, PP. 295-351;
1948, pp. l6l-84.
Mikesell, R. F., United States Economic Policy and International Relations,
New York, McGraw-Hill, 1951
Patterson, Gardner and associates, Survey of United States International
Finance. Princeton, Princeton U. Press, 1953, ch. 2; 1952; ch. 2,
and earlier volumes.
Staley, Eugene, Creating an Industrial Civilization. New York, Harper,
1952.
and others, The Future of Underdeveloped Areas, New York,
Harper, ^tentative/ 1953Official Publications:
U.So, Department of Commerce, Foreign Aid by the United States
Government, 1940-51° Washington, D*Co, 1952, and supplement,
March 1953U.S., House of Representatives, Staff Memorandum on Increasing the Flow
of Private Investment into Underdeveloped Areas /Committee Print/,
82d Congo, 2d Sess., March 27, 1952c
U.S., International Development Advisory Board, Guidelines for Point 4.
Washington, D0C0, June 5, 1952.
Pacific Coast Conference
on Private Investment in International Development /Depto of State
Pub. 4792/. Washington, D.C., Dec. 1952.
56
U.S., State Department, Aspects of Point} Four ^Economic Cooperation
Series 347. Washington, D.C., 1952.
______^^
Outline of Point Four: Organization, Policy
and Structure. Washington, D.C., Jan. l6, 1951*
Point Four: Cooperative Program for Aid in
the Development of Economically Underdeveloped Areas /Economic
Cooperation Series No. 24/, Washington, D.C., 1950*
The Truman 'Point Foury Program for World
Economic Progress through Cooperative Technical Assistance.
Washington, D * C , Feb. 1949.
Articles
Bekker, Konrad, "The Point IV Program of the United States in The
Progress of Underdeveloped Areas. Chicago, U. of Chicago Press, 1952.
Galbraith, J. K., "Conditions for Economic Change in Underdeveloped
Countries," Journal of Farm Economics, v. 33 > Nov. 1951> PP* 689-96.
Gardner, Richard N., "Point Four: A Re-examination of Ends and Means,"
Yale Lav Journal, June 1950.
Harris, S. E., "Some Aspects of Foreign Aid and Development," EI, III,
Aug. 1950, pp. 669-89.
Mendershausen, H., "Future Foreign Financing," RE+S, XXXI, Nov. 19^9,
pp. 266-79.
Perloff, H. S., "The Requirements of an Effective Point Four Program,"
Journal of Economic Development and Cultural Change, Oct. 1952.
Staley, Eugene, "Technical and Economic Assistance under Point Four,"
Proceedings of the Acad, of Pol. Sci., v, 25, May 1952, pp. 23-31*
Thorp, Willard, "Some Basic Policy Issues in Economic Development," AER,
Supplement, v. 41, May 1951, PP* 407-17*
Tirana, Rifat, "Government Financing of Economic Development Abroad,"
EHR, Supplement, X, 1950, pp. 92-104.
Viner Jacob, "America's Aims and the Progress of Underdeveloped Countries,"
in The Progress of Underdeveloped Areas„ Chicago, U* of Chicago
Press, 1952.
2o
United Nations Technical Assistance
/See also Sections IV-C-2 and XII-B/
Books:
FAO, Activities of the FAO under the Expanded Assistance Program, 1950-52.
Rome, May 1952.
Report on International Investment and Financing Facilities. Paris,
June 1949.
Mack, Jr., Robert T., Raising the World*s Standard of Living: The
Coordination and Effectiveness of Point Four, UN Technical
Cooperation and Related Programs. New York, Citadel Press, 1953Sharp, W. R., International Technical Assistance: Programs and
Organization. Chicago, Public Administration Clearing House, 1953United Nations, World Economic Report. New York, 1949-50.
Formulation and Economic Appraisal of Development Projects.
Ne-w York, 195T!
'
57
Articles:
Aubrey, H. G., "Industrial Enterprise in Underdeveloped Countries"
^Conference on Capital Formation and Economic Growth, Nov. 6-8,
19537- New York, NEER, 1953Benham, F. C , "Reflexiones sobre los paises insuficientemente
desarrollados," El Trimestre Economico, XIX, Jan.-Mar. 1952, pp. 45-57Keenlpyside, H* L., "Administrative Problems of Technical Assistance
Administration," CJE+PS, XVII, Aug. 1952, pp. 345-57*
"Technical Assistance" in 1951 Annual Review of
United Nations Affairs ^ed, by Co Eagleton and R. N. Swift/. New
York, New York U. Press, 1952,
Mitrany, David, "International Technical Assistance," Proceedings of the
Acado of Pol. Sci., v. 25, Jan. 1953, pp. 145-55Planning, "Technical Assistance: Agences and Programs," P.E»P. Pamphlet,
Vo 19, Septo 1 and 22, 1952, pp. 57-80, 81-99.
Sharp, W. R., "The Institutional Framework for Technical Assistance,"
International Organization, VII, Aug. 1953, pp. 342-79Weintraub, David, "International Approaches to Economic Development of
Underdeveloped Areas," Milbank Memorial Fund Quarterly, v* 26,
July 1948, pp. 250-68.
Wright, Hume, "Problems of International Aid to Underdeveloped Areas,"
/Canadian/ International Journal, VII, Autumn, 1952, pp0 265-73*
ABBREVIATIONS USED
Acad, of Pol. Sci,
AER
APSR
CJE+PS
CEC
DBR
EHR
EI
ECE
ECLA
EJ
ER
FA
FAO
FRB
FRBd,
HBR
IER
IJE
IBRD
IC
IEP
ILO
IMF—SP
ISSB
JB
JEH
JF
JIE
JPE
JRSS
LN
LBR
L+CES
MS
MSS
MEJ
NBER
NICB
NPBR
OEE
OEP
OIS
PEP
Pol. Sci. Quarterly
QJE
QR
RES
RE+S
RIIA
SABJ
SAJE
SEJ
3BR
WP
YBE+SR
Academy of Political Science
THE AMERICAN ECONOMIC REVIEW
THE AMERICAN POLITICAL SCIENCE REVIEW
Canadian Journal of Economics & Political Science
CURRENT ECONOMIC COMMENTS, University of Illinois
DISTRICT BANK REVIEW ^English/
THE ECONOMIC HISTORY REVIEW
ECONOMIA INTERNATIONALE /Italian/
Economic Commission for Europe of the United Nations
Economic Commission for Latin America
THE ECONOMIC JOURNAL /English/
THE ECONOMIC RECORD /Australian/
FOREIGN AFFAIRS
Food & Agricultural Organization of the United Nations
FEDERAL RESERVE BULLETIN
Federal Reserve Board
THE HARVARD BUSINESS REVIEW
THE INDIAN ECONOMIC REVIEW
THE INDIAN JOURNAL OF ECONOMICS
International Bank for Reconstruction & Development
INTERNATIONAL CONCILIATION
INTERNATIONAL ECONOMIC PAPERS
International Labour Organization of the United Nations
International Monetary Fund—STAFF PAPERS
INTERNATIONAL SOCIAL SCIENCE BULLETIN
JOURNAL OF BUSINESS, University of Chicago
JOURNAL OF ECONOMIC HISTORY
JOURNAL OF FINANCE
JOURNAL OF INDUSTRIAL ECONOMICS ^English/
THE JOURNAL OF POLITICAL ECONOMY
JOURNAL OF THE ROYAL STATISTICAL SOCIETY ^English/
League of Nations
LLOYDS BANK REVIEW
London & Cambridge Economic Service, Bulletin
JOURNAL OF THE MANCHESTER SCHOOL ^English/
TRANSACTIONS OF THE MANCHESTER STATISTICAL SOCIETY /English/
MIDDLE EAST JOURNAL
National Bureau of Economic Research
National Industrial Conference Board
NATIONAL PROVINCIAL BANK REVIEW /English/
Organization for European Economic Cooperation
OXFORD ECONOMIC PAPERS /English/
Oxford Institute of Statistics, Bulletin
POLITICAL AND ECONOMIC PLANNING
POLITICAL SCIENCE QUARTERLY
QUARTERLY JOURNAL OF ECONOMICS
QUARTERLY REVIEW
THE REVIEW OF ECONOMIC STUDIES /English/
THE REVIEW OF ECONOMICS & STATISTICS
Royal Institute of International Affairs
SOUTH AFRICAN BANKERS' JOURNAL
THE SOUTH AFRICAN JOURNAL OF ECONOMICS
THE SOUTHERN ECONOMIC JOURNAL
THE THREE BANKS REVIEW English/
WORLD POLITICS
YORKSHIRE BULLETIN OF ECONOMIC & SOCIAL RESEARCH
@FedFRASER