home Banking books Penny-kreditnі Sistemi zarubіzhnih kraїn - Іvanov VM

Penny-kreditnі Sistemi zarubіzhnih kraїn - Іvanov VM

2.2. Tipi penny systems

Type groshovoї Sistemi deposits od FORMS organіzatsії trumpery obіgu in kraїnі. Pervіsny type trumpery obіgu pov'yazany s vikoristannyam metalevih pennies.

Pershi coins z'yavilisya in Kitaї that in starodavnіy Lіdіyskіy derzhavі in Article VII. BC. e., Pershi paperovі groshі іsnuvali in Kitaї in Article VIII. BC. e. In 1500 r. Uryadov LUVs China zmusheny zupiniti Key infrastructure paperovih pennies through trudnoschі, pov'yazanі s їh nadlishkom that іnflyatsієyu.

for rіznih chasіv Tipi penny systems imposed in Fig. 3.

In XVI-XVIII art. іsnuvala bіmetalіzmu system tobto in obіgu odnochasno perebuvali gold coins іz th srіbla. Bіmetalіzm MAV three rіznovidi:

• a system of parallel currencies (spivvodnoshenya mizh coins vstanovlyuvalosya stihhyno);

• System podvіynoї currency (coins spіvvіdnoshennya mіzh vstanovlyuvalosya powers);

• System "kulgayuchoї" currency (coins Sribni boule sign of gold). Mіzh srіblom i gold vstanovlyuvalosya Pevnyi spіvvіdnoshennya.

3 hour tsіni, zokrema minutes on tsі coins zmіnyuvalisya i vstanovlene spіvvіdnoshennya vtrachalo force scho zumovlyuvalo zniknennya s obіgu one vidіv h pennies. On osnovі tsogo Bulo vivedeno law: "poganі" groshі vitіsnyayut s obіgu "Dobri". When bimetalizmі "poganymi" rustled gros, vartitost yakih on rinku tinnyh metalov bula lower for ioh ofitsynu grošovu vartіst, and "dobri" buli grosi, yaki koshtuvali prizhodche for offitsynu tsinu. Vitіsnennya "good" pennies "trash" zooms perehіd od bіmetalіzmu to monometalіzmu - groshovoї system in yakіy role pennies vikonuє one metal. By broadening the gold of mono-metalism, and yogo naidoskonalіshoyu form - gold standard.

Mayzhe all Chastina XIX i XX century. pov'yazanі s panuvannyam gold standard system. Що ж up to the exact dates, then here is the activity of being invisible. Vvazhayut scho Epoch gold standard Pocha Anglії naprikіntsі in the XVIII century., Hoca zakonodavcho yogo zakrіpleno at 1816 p. Stverdzhuyut takozh, scho Epoch gold standard pochinaєtsya z 1821 r., If Britanska іmperіya Zroby sterlіngіv konvertovaniya pound in gold. Nezabarom i konvertuvali US Dolar. Persha svіtova vіyna іstotno pіdіrvala system of the gold standard in bіlshostі kraїn svitu. The United States, napriklad, Won іsnuvati ceased in 1933 p., Tobto pіslya Velikoї depresії. Tom dehto vvazhaet tsei period zakinchennyam epokhi gold standard. That factual Elements tsієї Sistemi іsnuvali th pіslya Druha svіtovoї vіyni, i deprivation in 1971 p. Won znikla residual, if the US pripinili purchase-sales of gold for fіksovanimi tsіnami.

For the system of the gold coin standard harakternі karbuvannya th obіg gold coins, pennies vіlny rozmіn paperovih gold vіdpovіdno to vstanovlenogo law vmіstu metal music in groshovіy odinitsі.

Rozkvіt gold standard nalezhit to kіntsya XIX - XX century cob. Same Tsey perіod bagato kraїn zdіysnili groshovі reform. Pokazovoyu schodo tsogo Je penny reform in tsarskіy Russie in 1897 p. , If in obіg Bulo zaprovadzheno Zoloti rublі, SSMSC vіlno obmіnyuvalisya on paperovі groshі. The ruble dorivnyuv 0,77 g of gold. For porіvnyannya: Gold vmіst Dolar becomes 1.6 g, pound sterlіngіv - 7.3, the franc - 0,29 i brand - 0.25 grams of gold.

Zoloti groshі boule in vіlnomu obіgu time s Credit. Derzhbank pіdtrimuvav rіvnovagu i Suvorov kontrolyuvav Key infrastructure Credit bіletіv. Quantity їh in obіgu could not perevischuvati gold stocks Kraina yak bіlsh 300 million rublіv. Against real gold stocks іnodі perevischuvav Credit scrip bіletіv scho perebuvali in obіgu.

Stabіlnіst i konvertovanіst ruble bazuvalisya on nadіynomu fіnansovomu fundamentі. For ten rockies (1887-1897), gold reserves were reduced approximately 2.5 times and transferred 1 billion rubles. Tsomu spriyalo traditsіyno positive balance zovnіshnogo torgovelnogo balance. Budget Kraina CCB bezdefіtsitnim and obsyag Promyslova virobnitstva for 1890-1899 pp. zbіlshivsya vdvіchі.

Nespodіvanim Bulo those scho zaprovadzhennya in obіg gold coins not viklikalo azhіotazhu Navkolo them. Moreover, they often od hotіli zvіlnitisya yak od nezruchnih in obіgu. Schodo tsogo viklikaє іnteres Praca D. Rіkardo "Propozitsіya on korist ekonomіchnogo i stіykogo trumpery obіgu ...". D. Rіkardo CCB prihilnikom gold standard oskіlki without tsogo on Dumka vchenogo not Mauger Buti stabіlnoї currency. Prote vіn good rozumіv scho gold obіg Je nepіdsilnim tyagarem for Economy Kraina. Groshov's system, vvazhal vin, guilty bouti is not less than a stic, but economical. And with such a Won Mauger Buti todі, if in obіgu perebuvatimut paperovі groshі, SSMSC mozhna rozmіnyuvati gold. D. Rіkardo vvazhav takozh, scho paperovі groshі dotsіlno rozmіnyuvati not Zoloti coins, and Zoloti Zlivko. When tsomu rozmіn mozhlivy for mіnіmalnih zapasіv gold. D. Rіkardo zaznachav scho stock groshovoї masi 3 million in razі keeping proper ref Je dostatnіm.

Zaprovadzhennya gold standard potrebuvalo od kozhnoї Kraina-uchasnitsі konvertuvannya vnutrіshnoї currency into gold for fіksovanim course. Zhodnih mіzhzargnignyh norms, yaki reguljuvali b kvozindnі vіdnosini, not іnnuvalo. In tsomu Bulo not required. The basis of foreign exchange rates is gold. Having fixed the export export-import of gold, the exchange of national currency into non-interstate territory. Tse spriyalo stabіlіzatsії Monetary kursіv. Їх відхилення від currency parities inter-vartivsya vartіstyu costs for transporting gold z odnієї kraїni іnshu. Such a system fought the shvidkom ekonomichnom zrostannu.

W cob Pershoї svіtovoї vіyni gold postupovo perestaє vikonuvati funktsіyu zagalnogo ekvіvalenta, trumpery product. Tsei processes CCB duzhe serious. Vyna demanded bagato koshtiv, vinikali defitsitsii state budget, ny pidirvalo zolotogroshovu system. In bіlshostі kraїn Zoloti coins viluchayutsya s obіgu. In povoєnny perіod gold standard zalishivsya deprivation in the US. In Anglії i Frantsії Bulo zaprovadzheno zolotozlivkovy standard for yakogo coins in obіg not vipuskalisya, ale zabezpechuvavsya obmіn banknotes Zoloti Zlivko. Standard waga of the zlivkiv became 12.5 kg. Deyakі Kraina zaprovadili zolotodevіznogo standard system. Such a system did not fool the direct exchange of national hryshovy odinits for gold, you can bump obminyuvaty to foreign currency (deviznu) currency, rozmіnnu gold.

System zolotodevіznogo standard Yurydychna framed rіshennyam Genuezkoї konferentsії (1922 p.), Іsnuvala nedovgo. In perіod svіtovoї ekonomіchnoї Creasy pp 1929-1933. Won arrogant collapse. In 1933 r. Gold coins from the US boule vilucheno z obigu. Vidanі that hour spetsіalnі Decrees vimagali, dwellers usі fіzichnі individuals fіrmi i banks sold gold svoє banks Federalnoї rezervnoї System (FRS) is the Treasury for tsіnoyu 20.67 dollars. for untsіyu (31.1035 g). In rezultatі viluchennya gold s obіgu gromadyani US could not obmіnyuvati Dolar gold, i tіlki іnozemtsі Somalia right until 1971 p. kupuvati tsіnі gold at 35 dollars. for untsіyu.

We exploited the Bretton Woods land (1944 р.), The edge of the antigistrict coalition, to the oppressive role of gold. Zgіdno s tsієyu lands svіtovimi reserves that rozrahunkovimi currencies narіvnі іz gold boule Dvi natsіonalnі currency - US Dolar is the pound sterlіngіv Anglії. Otzhe, monopolії gold mіzhnarodnih rozrahunkah Bulo very hard edge. Warmth of the United States zobov'yatyasya pidtrimuvati rozmin paperovih dolariv gold for the official price of 35 dollars. For untsiu, ali tilki for the central bank, that is the order of the established territories. The dolar's search for the role of svitovikh pennies required zmіtsnennya yogo positsі. W tsієyu metoyu Kraina - a member of the Bretton Vudskoї valyutnoї Sistemi vstanovili solid par svoїh currency Dolar i schodo zobov'yazalisya pіdtrimuvati for Relief valyutnoї іnterventsії rates at rіvnі Tsikh paritetіv not dopuskati vіdhilen bіlsh yak at 1%.

Bretton Vudska monetary system vprodovzh 50-60 rokіv spriyala rozvitku mіzhnarodnih ekonomіchnih vіdnosin. However, there is little glyboki internal superechnosti. Rozmіn paperovih pennies for gold for ofіtsіynoyu tsіnoyu CCB nepіdsilnim tyagarem US. In 1970 r. korotkostrokovy US Borg in 6 razіv perevischiv gold reserves. Mayzhe monopolistic Vlad Dolar on svіtovіy arenі not spriyala pіdnesennyu mogutnostі ob'єdnanoї Єvropi i Yaponії. Sprobi viyti s tsogo encampments led to realіzatsії іdeї J. Keynes stvoriti "regulovanu currency". Such a currency became the SDR (Special Drawing Rights - special rights pozvozchenchenya) - a piece of currency odinitsya, the release of the alleged pochavsya from 1 sichna 1970 p. Spotchatku tsi penny oditnitsya bula is brought to gold, gold in the world becoming 0.888671 g and pririvnyavasya to the US dollar. Pіslya devalvatsії Dolar at 1971 i 1973 r. SDR exchange rate zbіlshivsya proti Dolar 1.2 times. Pіznіshe vіdmovilisya od golden vmіstu i Poch viznachati vartіst SDR osnovі serednozvazhenoї quantities rinkovih kursіv p'yati currencies - US Dolar, nіmetskoї brand frantsuzkogo franc, pound anglіyskogo sterlіngіv, yaponskoї єni (Figure 4.).

Fig. 4. Components of the standard Kaushik currencies SSMSC viznachayut vartіst SDR

Vazhlivy Step to zmenshennya rolі gold from groshovіy sistemі zrobleno at 1968 p. Bulo skasovano zobov'yazannya bankіv Fed trimati reserves in Zoloti. In 1914 r., If the Fed tіlki stvoryuvalasya, in the minds of the gold standard іsnuvannya rozmіri rezervіv bankіv stale od priplivu that vіdplivu gold. Ruh gold pіdporyadkovuvavsya rinkovіy kon'yunkturі: zbіlshuvavsya tovaroobіg - gold іz Skarbnitsya entice in rinkovy krugoobіg i, navpaki, Zi znizhennyam rinkovoї kon'yunkturi gold nadhodilo to Skarbnitsya.
Before 1945 the river. usі Fed banks boule zobov'yazanі mother Zoloti reserves in rozmіrі 40% nomіnalnoї vartostі banknotes vipuschenih them obіg, i 35% sumi їh depozitіv. In 1945 r. tsі proportsії zmenshilisya to 25%. In 1965 r. Bulo schodo skasovano vimogi rezervіv for depozitіv at the Federal Reserve Bank, and in 1968 p. - I schodo Federal Reserve notes. Tsі rіshennya zumovlyuvalisya tim, scho Quantity gotіvkovih pennies in the population protyagom dvadtsyati rokіv (up to 1968 p.) Zbіlshuvalas serednomu at 34% per Year. Takі Tempi zrostannya could not b trivati, yakbi banknotes zabezpechuvalisya gold reserves sertifіkatіv.

Ekonomichna crisis on the cob 70 rokіv zmusila get used rіshuchih zahodіv, dwellers stabіlіzuvati situatsіyu s Dolar. 3 posilennyam іnflyatsії rіzko pіdvischivsya popit gold. Pragnulo pridbati population Zahist yogo for od іnflyatsії. Rinkova price of gold is 35 dollars. untsіyu for 1970 p. pіdvischilasya mayzhe up to 160 dollars. at 1974 p. Yaksho until 1971 p. US Dolar at utrimuvali fіksovanomu rіvnі, then in 1971, p. ogolosheno Bulo, scho tse zobov'yazannya not vikonuvatimetsya. On tsomu Epoch gold standard zakіnchilasya.

Yak otsinyume epoch gold standard? Natsionalna front fee US іz gold golden i obіgu that Enzyklopädie amerikanskoї ekonomіchnoї іstorії nazivayut її perіodom naybіlshogo rozkvіtu amerikanskoї іstorії. Інвестиції у капітальні кошти були надзвичайно високі, майже не було безробіття, realі виробничі витрати та витрати обігу знижувалися швидкими темпами.

The system of the gold standard zabezpechuvala stabіlnіst yak at vnutrіshnіy, so i in zovnіshnіy ekonomіchnіy polіtitsі. In tsomu її perevagi. The water hour of gold is the standard of the Mav. According au-Perche, it became nemozhlivo zdіysnyuvati Square penny and credit polіtiku, spryamovanu on virіshennya vnutrіshnіh Kraina problems. Differently from voєnnі chasi, if rіzko pіdvischilasya require at Costa, zbіlshennya Key infrastructure paperovih put pennies pid sumnіv konvertovanіst їh gold. Kraina, SSMSC of Namangan in takіy situatsії zberegti konvertovanіst paperovih pennies for gold, Shvydko vtrachali svіy gold standard.

Vnaslіdok collapse of the gold standard i pripinennya rozmіnu paperovih pennies for gold tsіlkom Postal zakonomіrno problem about the role of gold: Chi zalishaєtsya vono item at penny obіgu?

The sights of the traditional approach were positively positively positively correlated with gold, which was a penny-pinch commodity, the foundation of a penny-bank system, the function of the world, and the papern grotesques filled with signs of gold. Suchasnі groshovі Sistemi bazuyutsya on paperovіy valyutі. Papers' coins are a sign of gold, and gold has given the role of a fatal eqvivalent [58, p. 86-87].

The order із твердженням, що нічого не змінилося, окремі author вважають, що зміни відбулися: gold became the zichichnim goods and vtatilo role zagalnogo ekvіvalenta. Ale todi poste pitan: yak suaschanni paperovi groshni, not mayuchi vnutrishnogo vartosty, mozut vikonuvati the role of the fatal eqvivalent? Proponuyutsya rіznі varіanti virіshennya tsogo supply. Tse th Povernennya to rozgornutoї FORMS vartostі, if vartіst paperovih pennies viznachalasya vartіstyu tovarіv, i rozglyad Credit pennies yak monopoly product, i navіt visuvannya the role of zagalnogo ekvіvalenta vartostі robochoї Seeley.

Trivale panuvannya sistemi gold standard that detailed details in the economical theory led to the fact that the classic theses were gone before the Naval Intelligence, in the case of people and the situation, they were found to be unbreakable, ungenerous. Prote іstorichny dosvіd showing scho zolotogroshova system, yak i in all suspіlstvі, іstorichno perehіdna.

Gold is no longer vikonuvati funktsіyu pennies - mіri vartostі, tsіni viyavilisya vіdіrvanimi od gold. So, the goldfish of gold remained an hour shyly. І yakbi інунувала it is direct заняжність між вартістю gold і Вартістю товарів, then ціни мали б знизитися. Well Naspravdі tsіni pіdvischuyutsya and vartіst gold, yak i іnshogo product, virazhaєtsya in pennies.

Rozglyanemo svіtovі groshі. Vvazhalosya scho Mauger tіlki gold vikonuvati funktsіyu of pennies. One іz printsipіv Bretton Vudskoї Sistemi polyagav in fact scho gold guilty vikonuvati funktsіyu svіtovih pennies of order іz Dolar. Ales Suspilne vibrobnitsu at the turn of the feathers reached such scales, but gold could not secure the consumption of the net through the exchange of loans.

Axis chomu in sіchnі 1976 p. in Kіngstonі (Jamaica) Bulo Signed sake, yak poklal cob novіy - chetvertіy svіtovіy sistemі - yamayskіy. Tsya lands gained chinnostі of 1 kvіtnya 1978 p. Find our basic novoї Sistemi Bulo on au-Perche, s gold vitіsnennya mіzhnarodnih rozrahunkіv Shlyakhov lіkvіdatsії gold paritetіv currency i vstanovlennya ofіtsіynoї tsіni gold. Mіzhnarodny Monetary rinok pripiniv priymati gold yak i vіdsotkіv payment of quotas for loans. In a different way, the office boulevard is known as a "floating" currency exchange rate , tobto, coursay, yaki on the currency market, in the course of the purchase of goods, and that's the propitiation. In tretє, yamayska lands Hoca factuality th zafіksuvala perevazhne encampment US Dolar, ale z narіvnі Dolar mіzhnarodnimi backup that rozrahunkovimi currencies viznano nіmetsku brand shveytsarsky Franc is the yaponsku єnu.

Як відомо, кількість of groschen is guilty of deducting sums of money from урахуванням швидкості обігу currencies. Gold Mauger vikonuvati funktsіyu trumpery product for minds, scho yogo Quantity dostatnya for tovaroobіgu pevnoї Kraina. Ale vidobutok gold zbіlshuєtsya not as Shvidky pace yak virobnitstvo tovarіv. Tom vinikaє superechnіst mіzh Shvidky pіdnesennyam Economy i dobuvannyam gold that yogo yak obіgom pennies. In Persha Etap tsya superechnіst virіshuєtsya zbіlshennyam dobuvannya gold, s one side, i rozvitkom loan - s іnshogo. Loan extending between the development of the Suspilny vibrobitvtva, creating opportunities for an economical pidnesennya.