Reserve Currencies in an Evolving International Monetary System /
Despite major structural shifts in the international monetary system over the past six decades, the US dollar remains the dominant international reserve currency. Using a newly compiled database of individual economies' reserve holdings by currency, this departmental paper finds that financial...
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| Rannpháirtithe: | , , |
| Formáid: | IRIS |
| Teanga: | English |
| Foilsithe / Cruthaithe: |
Washington, D.C. :
International Monetary Fund,
2020.
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| Sraith: | Departmental Papers; Departmental Paper ;
No. 2020/002 |
| Rochtain ar líne: | Full text available on IMF |
| Achoimre: | Despite major structural shifts in the international monetary system over the past six decades, the US dollar remains the dominant international reserve currency. Using a newly compiled database of individual economies' reserve holdings by currency, this departmental paper finds that financial links have been an increasingly important driver of reserve currency configurations since the global financial crisis, particularly for emerging market and developing economies. The paper also finds a rise in inertial effects, implying that the US dollar dominance is likely to endure. But historical precedents of sudden changes suggest that new developments, such as the emergence of digital currencies and new payments ecosystems, could accelerate the transition to a new landscape of reserve currencies. |
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| Cur síos ar an mír: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Cur síos fisiciúil: | 1 online resource (67 pages) |
| Formáid: | Mode of access: Internet |
| ISSN: | 2616-5333 |
| Rochtain: | Electronic access restricted to authorized BRAC University faculty, staff and students |