Postwar monetary policy

Summary Monetary policy has played an active role in Dutch postwar economic policy. Essentially, it has sought to contribute to balanced economic growth by controlling the money supplyM ₂ in relation to national income. Policy measures extend to all sources of money creation-viz. bank credit, public sector finance and the balance of payments - and are predominantly of the quantitative type. This is reflected, among other things, in medium-term targets for the structure and outcome of the balance of payments and the size and coverage of the public sector's borrowing requirement. Internationally, the Netherlands favour and participate in stable exchange rate systems. This has not led to serious conflicts with domestic monetary objectives until the seventies, when excessive easing of monetary conditions had to be accepted temporarily.     

Making international marketing decisions under WTO rules

With the conclusion of the Uruguay Round and the establishment of the World Trade Organization (WTO) in April 1994, a comprehensive set of rules emerged that affect in a pervasive manner the activities of firms on foreign markets. This body of rules is overwhelmingly presented in the literature from a trade policy or legal viewpoint. The result is that, for many marketers, WTO rules are somewhat confusing, and their impact on international business operation is difficult to assess. This paper is purely analytical and does not aim to provide any contribution to international marketing theory. Its purpose is to identify which rules, among the many the WTO system encompasses, are of direct concern to firms. It aims to expose in a straightforward manner how they may be coped with or taken advantage of by international marketers. It focuses on WTO measures, which deal with so‐called international marketing mix decisions, namely decisions pertaining to (1) entry and international distribution, (2) product and service, (3) pricing, and (4) international communication. Commitments made during the WTO Fourth Ministerial Conference in Doha (November 9–14, 2001) that are relevant to issues raised in this paper are accounted for. © 2003 Wiley Periodicals, Inc.