At present primarily governed by market forces with little regulatory interference, international financial relations have become increasingly important for global as well as national economies. Contributors to this volume consider whether this absence of regulation is wise, in the light of...

Canada played an important role in the postwar establishment of the International Monetary Fund (IMF), yet it was also the first major member to challenge the orthodoxy of the BrettonWoods par value system by abandoning it in 1950 in favour of a floating, market-determined exchange rate....