The Euro S Challenge To The Dollar Different Views From Economists And Evidence From Cofer Currency Composition Of Foreign Exchange Reserves And Other Data

Author : Ewe-Ghee Lim
Publisher : INTERNATIONAL MONETARY FUND
Page : 40 pages
File Size : 42,7 Mb
Release : 2006-06-01
Category : Electronic
ISBN : 1451864132

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The Euro's Challenge to the Dollar: Different Views from Economists and Evidence from COFER (Currency Composition of Foreign Exchange Reserves) and Other Data by Ewe-Ghee Lim Pdf

This paper examines opposing views on the euro's challenge to the dollar as an international currency. One view emphasizes Europe's large economy and diversification effects as undergirding a vigorous challenge. The other emphasizes "network externalities," particularly undergirding continued dollar dominance. The data to date support the second view but also show the euro has significantly overtaken the legacy currencies as a reserve currency. Generally, large economic size alone is insufficient to challenge the network externalities supporting vehicle currencies, but scope exists for the euro to advance as an international store of value. The paper discusses the euro's medium-term prospects.

Author : Fayyaz Baqir,Sanni Yaya
Publisher : Routledge
Page : 246 pages
File Size : 43,7 Mb
Release : 2021-05-19
Category : Science
ISBN : 9781000396171

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Beyond Free Market by Fayyaz Baqir,Sanni Yaya Pdf

This book explores the causes and consequences of market failure in bridging societal differences to create a shared economy. It questions the current world order and evaluates socio-economic gains in reference to the social origins of the economic agents. With a need to counterbalance economic growth with social equality and environmental sustainability, the book proposes innovative approaches to address key questions on the contemporary global economy such as, "Is the Global socio-economic order supportive of the pursuit of rational and enlightened self -interest?", "Is it a unipolar power centre and neoliberal economic policy regime?", "Can the system reinvent itself?", etc. One approach encourages going back to the golden past and making things "great again", insisting that history has ended and the failures of old global institutions be blamed on the "Clash of Civilizations". Another approach advocates giving up the intellectual comfort zone of elegant but irrelevant neo-liberal explanations of global challenges and asking new questions that take academic debate to the public square. The book examines the internal challenges and contradictions that cause disintegration and proposes alternative ideas and practices in moving the global community beyond the free market regime. The book will appeal to students and academics of development studies, political economy, political science, sociology, as well as policymakers and public opinion makers interested in creating a new egalitarian global society.

Author : Benjamin J. Cohen
Publisher : Routledge
Page : 210 pages
File Size : 44,8 Mb
Release : 2012-11-12
Category : Political Science
ISBN : 9781136845888

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The Future of Global Currency by Benjamin J. Cohen Pdf

Can the euro challenge the supremacy of the U.S. dollar as a global currency? From the time Europe’s joint money was born, many have predicted that it would soon achieve parity with the dollar or possibly even surpass it. In reality, however, the euro has remained firmly planted in the dollar’s shadow. The essays collected in this volume explain why. Because of America’s external deficits and looming foreign debt, the dollar can never be as dominant as it once was. But Europe’s money is unable to mount an effective challenge. The euro suffers from a number of critical structural deficiencies, including an anti-growth bias that is built into the institutions of the monetary union and an ambiguous governance structure that sows doubts among prospective users. As recent events have demonstrated, members of the euro zone remain vulnerable to financial crisis. Moreover, lacking a single voice, the bloc continues to punch below its weight in monetary diplomacy. The world seems headed toward a leaderless monetary order, with several currencies in contention but none clearly dominant. This collection distils the views of one of the world’s leading scholars in global currency, and will be of considerable interest to students and scholars of international finance and international political economy.

Author : W. Peng,C. Shu
Publisher : Springer
Page : 242 pages
File Size : 51,5 Mb
Release : 2009-11-30
Category : Business & Economics
ISBN : 9780230245785

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Currency Internationalization: Global Experiences and Implications for the Renminbi by W. Peng,C. Shu Pdf

This is the first book to collect academic studies examining issues related to the potential internationalization of the Renminbi. It considers policy implications, documents the rising regional importance of the Renminbi and discusses key issues in the increasing use of the Renminbi in international trade and finance.

Author : Pompeo Della Posta,Leila Simona Talani
Publisher : Springer
Page : 282 pages
File Size : 48,9 Mb
Release : 2011-04-28
Category : Political Science
ISBN : 9780230305007

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Europe and the Financial Crisis by Pompeo Della Posta,Leila Simona Talani Pdf

The global financial and economic crisis has brought about many effects that are still difficult to interpret univocally. This book studies the consequences of the crisis on Europe by examining the effects on the European institutional setup, governance and architecture and by studying in detail the different member countries.

Author : Anonim
Publisher : Peterson Institute
Page : 237 pages
File Size : 53,9 Mb
Release : 2009
Category : Electronic
ISBN : 9780881325584

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The Euro at Ten: The Next Global Currency by Anonim Pdf

Author : Anonim
Publisher : United Nations Publications
Page : 200 pages
File Size : 50,5 Mb
Release : 2008
Category : Business & Economics
ISBN : 9211091551

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World Economic Situation and Prospects 2008 by Anonim Pdf

Authoritative and reliable, this update to the World Economic and Social Survey 2001 offers a unique insight into current trends and policies in the world economy. Essential to both academics and business people, this survey provides an overview of recent performance and short-terms prospects for the world economy and some key global economic policy developments and issues.

Author : Luciana Juvenal,Deepali Gautam,Agustin Benetrix,Martin Schmitz
Publisher : International Monetary Fund
Page : 67 pages
File Size : 44,6 Mb
Release : 2019-12-27
Category : Business & Economics
ISBN : 9781513525372

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Cross-Border Currency Exposures by Luciana Juvenal,Deepali Gautam,Agustin Benetrix,Martin Schmitz Pdf

This paper provides a dataset on the currency composition of the international investment position for a group of 50 countries for the period 1990-2017. It improves available data based on estimates by incorporating actual data reported by statistical authorities and refining estimation methods. The paper illustrates current and new uses of these data, with particular focus on the evolution of currency exposures of cross-border positions.

Author : Hyoung-kyu Chey
Publisher : Routledge
Page : 186 pages
File Size : 41,7 Mb
Release : 2021-11-10
Category : Business & Economics
ISBN : 9781000473438

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The International Political Economy of the Renminbi by Hyoung-kyu Chey Pdf

Although the internationalization of the Chinese renminbi is an important international political event, most of the studies of it place their analytical focuses largely just on China itself, the issuer of the currency. In contrast, this book addresses the question of how foreign states have responded to the renminbi’s internationalization, during its initial phase through the 2010s, and thereby breaks new ground in exploring the international politics of currency internationalization. It builds a theoretical framework for analyzing a state’s policy toward renminbi internationalization, developing the key concept of reactive currency statecraft. It then applies this framework to the four select cases of the United Kingdom, Japan, South Korea and the United States. This book reveals that all four of these countries have deliberately utilized their policies related to renminbi internationalization as means of achieving their own foreign policy goals associated with China, goals that have been principally economic in some cases but political in others. Remarkably, the predominant mode of response to the renminbi’s internationalization has been accommodative. Even the United States and Japan—China’s chief geopolitical and also international currency rivals—have never attempted to actively suppress it. This study provides new insights to anyone concerned with the transformation of the world monetary order, while also contributing a valuable analysis of the international politics surrounding the rise of China.

Author : Anonim
Publisher : Unknown
Page : 908 pages
File Size : 52,7 Mb
Release : 2006
Category : Banks and banking, International
ISBN : IND:30000140193321

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International Banking and Financial Market Developments by Anonim Pdf

Author : Philip R. Lane,Jay C. Shambaugh
Publisher : Unknown
Page : 0 pages
File Size : 40,9 Mb
Release : 2008
Category : Electronic
ISBN : 3865584594

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Financial Exchange Rates and International Currency Exposures by Philip R. Lane,Jay C. Shambaugh Pdf

Author : Mr.Camilo E Tovar Mora,Tania Mohd Nor
Publisher : International Monetary Fund
Page : 83 pages
File Size : 52,6 Mb
Release : 2018-01-25
Category : Business & Economics
ISBN : 9781484339336

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Reserve Currency Blocs: A Changing International Monetary System? by Mr.Camilo E Tovar Mora,Tania Mohd Nor Pdf

What is the extent of currency diversification in the international monetary system? How has it evolved over time? In this paper, we quantify the degree of currency diversification using regression methods of currency co-movements to determine the extent to which national currencies across the world belong to a reserve currency bloc. We then use these estimates to calculate the economic size of each currency bloc. A key contribution of our paper is that we quantify the size of the Chinese renminbi bloc. Our analysis suggests that the international monetary system has transitioned from a bi-polar system - consisting of the U.S. dollar and the euro - to a tri-polar one that includes the renminbi. The dollar bloc is estimated to continue to dominate, having the largest share in global GDP (40 percent), followed by the renminbi (30 percent) and the euro blocs (20 percent). The geographical area of influence for the RMB bloc appears to be most evident among the BRICS’ currencies. The British pound and the Japanese yen blocs appear to play minor roles.

Author : David M. Andrews
Publisher : Cornell University Press
Page : 236 pages
File Size : 43,5 Mb
Release : 2006
Category : International economic relations
ISBN : 080144456X

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International Monetary Power by David M. Andrews Pdf

This book provides a thorough overview of how money is used as a tool to achieve international political aims.

Author : Emmanuel Farhi,Pierre-Olivier Gourinchas,Hélène Rey
Publisher : CEPR
Page : 65 pages
File Size : 43,8 Mb
Release : 2011
Category : Business & Economics
ISBN : 9781907142420

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Reforming the International Monetary System by Emmanuel Farhi,Pierre-Olivier Gourinchas,Hélène Rey Pdf

This report presents a set of concrete proposals of increasing ambition for the reform of the international monetary system. The proposals aim at improving the international provision of liquidity in order to limit the effects of individual and systemic crises and decrease their frequency. The recommendations outlined in this report include: / Develop alternatives to US Treasuries as the dominant reserve asset, including the issuance of mutually guaranteed European bonds and (in the more distant future) the development of a yuan bond market. / Make permanent the temporary swap agreements that were put in place between central banks during the crisis. Establish a starshaped structure of swap lines centred on the IMF. / Strengthen and expand existing IMF liquidity facilities. On the funding side, expand the IMF's existing financing mechanisms and allow the IMF to borrow directly on the markets. / Establish a foreign exchange reserve pooling mechanism with the IMF, providing participating countries with access to additional liquidity and, incidentally, allowing reserves to be recycled into productive investments.To limit moral hazard, the report proposes the setting up of specific surveillance indicators to monitor international funding risks associated with increased insurance provision. The report discusses the role of the special drawing rights (SDRs) and the prospects for turning this unit of account into a true international currency, arguing that it would not solve the fundamental problems of the international monetary system. The report also reviews the conditions under which emerging market economies may use temporary capital controls to counteract excessive and volatile capital flows. The potential for negative externalities requires mutual monitoring and international cooperation in terms of financial regulation and suggests that the mandate of the IMF should be extended to the financial account.

Author : Brad Setser
Publisher : Council on Foreign Relations
Page : 68 pages
File Size : 41,8 Mb
Release : 2008
Category : Business & Economics
ISBN : 9780876094150

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Sovereign Wealth and Sovereign Power by Brad Setser Pdf

The rise in China's trade surplus, the increase in oil prices, and a slowdown in demand for U.S. assets from private investors abroad has increased the United States' reliance on foreign governments for financing. This report examines whether America's ability to secure large quantities of external financing from foreign governments is a reflection of its political power, a constraint on its ability to exercise power, or a combination of the two.