Wpływ inflacji i zmian kursów walut w kapitalizmie na międzynarodowy obrót gospodarczy

Abstract

The article sets forth to determine the impact of inflation and changes in currency exchange rates in capitalism on the international trade. Accordingly, in the first part of the article the author discusses main sources of inflation, which — in his opinion — include: 1) consumer demand of households in the broad sense of the word, 2) production demand of companies in the field of investments and employment, 3) foreign demand for export commodities, 4) state expenditure on consumption and investments as well as on military and outer space exploration purposes. The second part of the article deals with the problem of import and export of inflation in capitalism. The author points out here that countries playing a smaller role in the international trade are, as a rule, forced to import inflation, as they cannot exert a bigger influence on the level of the world prices for goods exported by them. Next, there are discussed causes of changes in currency exchange rates (convertible currencies) over the period of 1973—1976. In the final part of the article, which sums up the main points, the author states that in conditions of inflation there occur changes in directions and structure of the international trade. This concerns both foreign trade streams and industrial co- operation and co-production. The inflation exerts also an influence on capital flows, payments balances, international currency system and East-West economic relations.