The Flight of International Capital
A Contemporary History
Routledge Library Editions: Financial Markets Series

Originally published in 1987, The Flight of International Capital provides a fascinating comprehensive analysis of the history of international money movements. Taking 1931 as the turning point between old-style and modern methods of conducting monetary affairs, the book relates currency shifts and investment trends to political events. He deals with five eras in the history of international capital; the unsettled post-crash period 1931-1936; the flight of capital to the US before World War II; the dollar and Swiss Franc?s time as the only ?hard monies? till the late fifties; the emergence of the mark-dollar axis before 1971; and finally, the behaviour of floating currencies.

Introduction 1. Years of Hegemony for the Paris-New York Rate 2. Capital Flight in the Approach to War 3. Solitary Freedom for the Swiss Franc 4. Towards the Floating Mark-Dollar Axis 5. Early Experience of Floating 6. The Rise and Fall of Refuge Currencies Postscript Chronology Bibliography