1.

Record Nr.

UNINA9910502614003321

Autore

Elson Robert Anthony <1941->

Titolo

The Global Currency Power of the US Dollar : Problems and Prospects / / by Anthony Elson

Pubbl/distr/stampa

Cham : , : Springer International Publishing : , : Imprint : Palgrave Macmillan, , 2021

ISBN

9783030835194

3030835197

Edizione

[1st ed. 2021.]

Descrizione fisica

1 online resource (210 pages)

Disciplina

332.4973

Soggetti

Macroeconomics

International economic relations

Globalization

Macroeconomics and Monetary Economics

International Economics

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Nota di contenuto

Chapter 1: The Dollar as a Global Currency -- Chapter 2: The Origins of the Global Currency Power of the US Dollar -- Chapter 3: The Growth in the Role of the Dollar as a Global Currency Power -- Chapter 4: The Benefits of the Dollar System to the United States and the Rest of the World -- Chapter 5: The Defects of the Dollar-Centered Global Financial System -- Chapter 6: Prospects for the Dollar -- Chapter 7: Possible Reforms of the Dollar-Centered Reserve System -- Chapter 8: The IMF and Reform of the Dollar-Centered Reserve System -- Chapter 9: The Dollar and Digital Currencies -- Chapter 10: Conclusions.

Sommario/riassunto

This book explains how the US dollar serves as the primary reserve currency for the international financial system and assesses its prospects for the future. The book provides an analysis of the main factors that have given rise to the global currency power of the dollar and the key benefits that have accrued to both the United States and other countries from this arrangement. It then considers the growing costs that can be associated with the dollar-centered reserve system and the prospects for the medium-term in terms of its potential threats



to global financial stability. In the light of these considerations, the book examines three alternative currency arrangements that could address some or all of the defects associated with the global currency power of the dollar. These include a shift to a multi-reserve currency system, an enhancement of the IMF's role as an international lender of last resort and provider of global "safe" assets, and the introduction of central bank digital currencies. "A cogent, persuasive and timely look at the dollar's power." Kirkus Reviews.