Financial globalization as positive integration: monetary technocrats and the Eurodollar market in the 1970s

Figures & data

Figure 1. Bank deposit creation as a swap of IOUs.

Figure 2. States, markets, and monetary technocrats in a credit money system.

Source: Authors' own illustration.

Figure 3. Evolution of the Eurodollar market and the rise of financial globalization.

Source: Authors' own illustration.

Figure 4. Petrodollar recycling via the Eurodollar market.