[PDF] The Dollar And Its Rivals eBook

Author : Barry Eichengreen
Publisher : Oxford University Press
Page : 224 pages
File Size : 12,40 MB
Release : 2011-01-07
Category : Business & Economics
ISBN : 0199753784

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It is, as a critic of U.S.

Author : Guillaume Cottin
Publisher :
Page : pages
File Size : 44,98 MB
Release : 2012
Category :
ISBN :

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The economic crisis of 2007 showed how world economy depends on the U.S.. The ongoing devaluation of the dollar and the large and persistent trade deficits of the U.S. current account is a source of risk to American supremacy. The consequences of such unbalances afflict the entire economy and are therefore the subject of worldwide concern. Consequently, this bachelor thesis will take a look at the challenged dollar and its uprising rivals. This paper is organized as follows: In the next section, a description of the actual international monetary system (IMS) is provided. Following the chapter 2, a review of the determinants, which explain the internationalization of a currency, can be found in chapter 3 and 4. With help of these determinants, chapter 5 assesses the dollar competitors and the dollar itself. In chapter 6 we will describe other phenomena that reinforce the position of the dollar. Chapter 7 reviews the current situation regarding the IMS and finally, chapter 8 provides an outlook of the evolution. Throughout this approach, we will be looking for answers about the future of the pre-eminence of the dollar against other currencies, in particular the euro and the renmimbi.

Author : Robert Brenner
Publisher : Verso Books
Page : 304 pages
File Size : 18,24 MB
Release : 2020-05-05
Category : Business & Economics
ISBN : 1789609135

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A sustained period of significant growth in the US, however, seemed to save the day against all the odds. So impressive was the surface appearance of this rescue mission that all manner of commentators proclaimed-once again-that a 'new economy' or 'new paradigm' of unlimited and harmonious growth had been forged. Today, as recession looms, the babble about Internet start-ups is exposed as vapid. Yet the pundits are no nearer an understanding of how or why the boom turned into a bubble, or why the bubble has burst. In this crisp and forensic book, Robert Brenner demonstrates that the boom was always a fragile phenomenon-buoyed up by absurd levels of debt and stock-market overvaluation-which never broke free from the fundamental malady of overcapacity and overproduction which continues to afflict the global economy. Carefully dismantling the myths and hype that surround the US boom in terms of profitability, investment, and productivity, Brenner restores the properly international context to the process. He portrays the 'zero-sum' character of the American success, which presupposed the relative weakness of its main German and Japanese competitors: a strategy that has laid huge obstacles in the path of a 'soft landing' to end the current phase of growth. A substantial new Postscript provides and up-to-date analysis of the Bush economic debacle-the crisis of manufacturing, the telecom bust, the record twin deficits, plummeting employment, and the real estate bubble.

Author : C. Fred Bergsten
Publisher : M.E. Sharpe
Page : 620 pages
File Size : 44,32 MB
Release : 1996
Category : Business & Economics
ISBN : 9780873326001

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An examination of the role of the dollar in the global financial system which presents a long-term historical perspective on the international monetary system in this century. The main focus is on the evaluation of the global financial system in the post-war period.

Author : Eswar S. Prasad
Publisher : Princeton University Press
Page : 438 pages
File Size : 41,59 MB
Release : 2015-08-25
Category : Business & Economics
ISBN : 0691168520

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Why the dollar is—and will remain—the dominant global currency The U.S. dollar's dominance seems under threat. The near collapse of the U.S. financial system in 2008–2009, political paralysis that has blocked effective policymaking, and emerging competitors such as the Chinese renminbi have heightened speculation about the dollar’s looming displacement as the main reserve currency. Yet, as The Dollar Trap powerfully argues, the financial crisis, a dysfunctional international monetary system, and U.S. policies have paradoxically strengthened the dollar’s importance. Eswar Prasad examines how the dollar came to have a central role in the world economy and demonstrates that it will remain the cornerstone of global finance for the foreseeable future. Marshaling a range of arguments and data, and drawing on the latest research, Prasad shows why it will be difficult to dislodge the dollar-centric system. With vast amounts of foreign financial capital locked up in dollar assets, including U.S. government securities, other countries now have a strong incentive to prevent a dollar crash. Prasad takes the reader through key contemporary issues in international finance—including the growing economic influence of emerging markets, the currency wars, the complexities of the China-U.S. relationship, and the role of institutions like the International Monetary Fund—and offers new ideas for fixing the flawed monetary system. Readers are also given a rare look into some of the intrigue and backdoor scheming in the corridors of international finance. The Dollar Trap offers a panoramic analysis of the fragile state of global finance and makes a compelling case that, despite all its flaws, the dollar will remain the ultimate safe-haven currency.

Author : Jeffrey A. Frankel
Publisher :
Page : 0 pages
File Size : 48,1 MB
Release : 2023
Category :
ISBN :

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Written on the 50th anniversary of floating exchange rates, this paper deals with possible alternatives to a unipolar dollar-based system. It considers (1) measures of international currency use; (2) potential challengers to the dollar; (3) network externalities; and (4) the plausibility of gold and digital currencies, as alternatives to regular currencies. On the one hand, network externalities operate in favor of the status quo: the dollar as the single leading international currency. On the other hand, the danger of abuse of exorbitant privilege - for example, by debasing the currency or repeated use of sanctions - operates in favor of challengers. A good guess is that the dollar will continue to lose market share slowly to others, but will remain in the lead.

Author : Adrian Nicola Carello
Publisher : University of Delaware Press
Page : 228 pages
File Size : 39,82 MB
Release : 1989
Category : Business & Economics
ISBN : 9780874133424

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This study relates the underdevelopment of southern Italy's Mezzogiorno to Italy's participation in the European Economic Community. In the tracing of its origins and evolution, the Mezzogiomo's underdevelopment is shown to have been intensified under Italy's current ruling class.