Author: Mr.Camilo E Tovar Mora
Publisher: International Monetary Fund
ISBN: 1484339339
Category : Business & Economics
Languages : en
Pages : 83
Book Description
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.
Reserve Currency Blocs: A Changing International Monetary System?
Author: Mr.Camilo E Tovar Mora
Publisher: International Monetary Fund
ISBN: 1484339339
Category : Business & Economics
Languages : en
Pages : 83
Book Description
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.
Publisher: International Monetary Fund
ISBN: 1484339339
Category : Business & Economics
Languages : en
Pages : 83
Book Description
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.
RESERVE CURRENCY BLOCS
Author: CAMILO E; MOHD NOR TOVAR MORA (TANI.)
Publisher:
ISBN: 9781484339374
Category :
Languages : en
Pages :
Book Description
Publisher:
ISBN: 9781484339374
Category :
Languages : en
Pages :
Book Description
The International Monetary System
Author: Hans Genberg
Publisher: Springer Science & Business Media
ISBN: 3642796818
Category : Business & Economics
Languages : en
Pages : 217
Book Description
HANSGENBERG An international monetary system should provide a stable and predictable environment for international trade and investment. At the very least, it should not by itself be a source of disturbances in the world economy, and it should be designed so that policy errors or unforeseen shocks are not unduly transmitted between countries. In this perspective, worldwide integration of goods and financial markets present a particular challenge. Such integration increases the cross-border effects of economic policies at the same time as interlocking payments and financial systems transmit financial disturbances rapidly throughout the world. As the degree of integration and interdependence changes over time, is not a foregone conc1usion that international monetary institutions and mechanisms always remain well adapted to the state of the world economy. Occasional review of the performance of the system as well as proposals for improvements are therefore necessary. The contributions to this volume have l been brought together with this in mind.
Publisher: Springer Science & Business Media
ISBN: 3642796818
Category : Business & Economics
Languages : en
Pages : 217
Book Description
HANSGENBERG An international monetary system should provide a stable and predictable environment for international trade and investment. At the very least, it should not by itself be a source of disturbances in the world economy, and it should be designed so that policy errors or unforeseen shocks are not unduly transmitted between countries. In this perspective, worldwide integration of goods and financial markets present a particular challenge. Such integration increases the cross-border effects of economic policies at the same time as interlocking payments and financial systems transmit financial disturbances rapidly throughout the world. As the degree of integration and interdependence changes over time, is not a foregone conc1usion that international monetary institutions and mechanisms always remain well adapted to the state of the world economy. Occasional review of the performance of the system as well as proposals for improvements are therefore necessary. The contributions to this volume have l been brought together with this in mind.
How Global Currencies Work
Author: Barry Eichengreen
Publisher: Princeton University Press
ISBN: 0691191867
Category : Business & Economics
Languages : en
Pages : 270
Book Description
A powerful new understanding of global currency trends, including the rise of the Chinese yuan At first glance, the history of the modern global economy seems to support the long-held view that the currency of the world’s leading power invariably dominates international trade and finance. But in How Global Currencies Work, three noted economists overturn this conventional wisdom. Offering a new history of global finance over the past two centuries and marshaling extensive new data to test current theories of how global currencies work, the authors show that several national monies can share international currency status—and that their importance can change rapidly. They demonstrate how changes in technology and international trade and finance have reshaped the landscape of international currencies so that several international financial standards can coexist. In fact, they show that multiple international and reserve currencies have coexisted in the past—upending the traditional view of the British pound’s dominance before 1945 and the U.S. dollar’s postwar dominance. Looking forward, the book tackles the implications of this new framework for major questions facing the future of the international monetary system, including how increased currency competition might affect global financial stability.
Publisher: Princeton University Press
ISBN: 0691191867
Category : Business & Economics
Languages : en
Pages : 270
Book Description
A powerful new understanding of global currency trends, including the rise of the Chinese yuan At first glance, the history of the modern global economy seems to support the long-held view that the currency of the world’s leading power invariably dominates international trade and finance. But in How Global Currencies Work, three noted economists overturn this conventional wisdom. Offering a new history of global finance over the past two centuries and marshaling extensive new data to test current theories of how global currencies work, the authors show that several national monies can share international currency status—and that their importance can change rapidly. They demonstrate how changes in technology and international trade and finance have reshaped the landscape of international currencies so that several international financial standards can coexist. In fact, they show that multiple international and reserve currencies have coexisted in the past—upending the traditional view of the British pound’s dominance before 1945 and the U.S. dollar’s postwar dominance. Looking forward, the book tackles the implications of this new framework for major questions facing the future of the international monetary system, including how increased currency competition might affect global financial stability.
The Future of the International Monetary System
Author: Omar F. Hamouda
Publisher: Routledge
ISBN: 1315491648
Category : Business & Economics
Languages : en
Pages : 234
Book Description
First Published in 1989. This a collection of sixteen essays that takes at look at the international monetary system and discusses if there is a need for change, improved coordination or concern due to instability. Topics explored include international debt, monetary reform, exchange stability, purchasing power, external impacts, the paper-exchange system, LDC debt, gold and commodity and looking to the future.
Publisher: Routledge
ISBN: 1315491648
Category : Business & Economics
Languages : en
Pages : 234
Book Description
First Published in 1989. This a collection of sixteen essays that takes at look at the international monetary system and discusses if there is a need for change, improved coordination or concern due to instability. Topics explored include international debt, monetary reform, exchange stability, purchasing power, external impacts, the paper-exchange system, LDC debt, gold and commodity and looking to the future.
The Evolution of the International Monetary System
Author: Yoshio Suzuki
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 360
Book Description
Publisher:
ISBN:
Category : Foreign exchange
Languages : en
Pages : 360
Book Description
Resetting the International Monetary (Non)System
Author: José Antonio Ocampo
Publisher: Oxford University Press
ISBN: 019871811X
Category : Business & Economics
Languages : en
Pages : 296
Book Description
This volume provides an analysis of the global monetary system and proposes a comprehensive yet evolutionary reform of the system aimed at creating better monetary cooperation for the twenty-first century.
Publisher: Oxford University Press
ISBN: 019871811X
Category : Business & Economics
Languages : en
Pages : 296
Book Description
This volume provides an analysis of the global monetary system and proposes a comprehensive yet evolutionary reform of the system aimed at creating better monetary cooperation for the twenty-first century.
The International Monetary System
Author: John Carter Murphy
Publisher: Washington, D.C. : American Enterprise Institute for Public Policy Research
ISBN:
Category : Business & Economics
Languages : en
Pages : 306
Book Description
Publisher: Washington, D.C. : American Enterprise Institute for Public Policy Research
ISBN:
Category : Business & Economics
Languages : en
Pages : 306
Book Description
Our International Monetary System; Yesterday, Today, and Tomorrow
Author: Robert Triffin
Publisher:
ISBN:
Category : International finance
Languages : en
Pages : 240
Book Description
Publisher:
ISBN:
Category : International finance
Languages : en
Pages : 240
Book Description
Money Meltdown
Author: Judy Shelton
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 424
Book Description
Economic expert Shelton contends that, despite worldwide rhetoric about free trade and the global economy, little has been done to address the most insidious form of protectionism--the inherently unstable international monetary system--and calls for a unified monetary system to foster stability and prosperity.
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 424
Book Description
Economic expert Shelton contends that, despite worldwide rhetoric about free trade and the global economy, little has been done to address the most insidious form of protectionism--the inherently unstable international monetary system--and calls for a unified monetary system to foster stability and prosperity.