The International Payments and Monetary System in the Integration of the Socialist Countries

  • Authors
  • Imre¬†Vincze

Table of contents

  1. Front Matter
    Pages I-IX
  2. Introduction

    1. Imre Vincze
      Pages 1-4
  3. The Present International Payments and Monetary Sytem of the CMEA

  4. Principal Factors Determining the Characteristics and Possibilities of the Exchange System of the CMEA

  5. Issues in Connection with the Development of the International Monetary System of the CMEA Community

  6. Back Matter
    Pages 178-185

About this book


Economic cooperation between the CMEA countries is implemented according to the monetary and financial regulations worked out collectively. The regulations cover the organizational structure of international settlements; the choice of currency for settlements; the principles of international credit transactions ; the determination ofthe exchange rate of the currency used in international settlements to national currencies and to convertible currencies outside the CMEA; the principles and rules ofinternational exchange and transfers; mIes for the currency allotments of citizens (roles of international transfers for citizens). The regulations also contain provisions for international settlements and credit transactions which are concluded through an independent international bank or banks. These regulations, the instruments and institutions together, form the international payments and monetary system of the CMEA. * The financial and monetary regulations of the CMEA community were formed in several stages, depending on the prevailing· conditions and the targets to be attained. In the years between 1949 and 1963 the general form of economic cooperation and of international settlements was the bilateral clearing agreement. In the bilateral agreements which the Soviet Union concluded with the other CMEA countries the currency of settlements was the Soviet rouble. The prices applied in foreign trade were not the internal producer prices of the Soviet Union, but world market prices (main international market prices) expressed in roubles, with the he]p ofthe exchange rate ofthe Soviet rouble to the US dollar, as quoted in the Soviet Union.


Clearing cooperation development exchange rates foreign trade institutions integration investment management organization organizations production regulation science and technology trade

Bibliographic information

  • DOI
  • Copyright Information Springer Science+Business Media B.V. 1984
  • Publisher Name Springer, Dordrecht
  • eBook Packages Springer Book Archive
  • Print ISBN 978-94-017-3372-4
  • Online ISBN 978-94-017-3370-0
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