1945

One of the principal characteristics of the world economy in recent years has been the rapid pace at which financial activity has grown and become international in character. As restrictions on their movement have been relaxed, funds have increasingly flowed back and forth across national boundaries; and as capital has learned to operate globally, restrictions on its behaviour have progressively lost their force. At the same time, trade in financial services and assets of varying maturities has grown by leaps and bounds, both nationally and internationally, far exceeding the expansion of production and trade in goods.

Related Subject(s): International Trade and Finance
/content/books/9789210602938s005-c001
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