Establishing an International Reserve Currency System with Checks and Balances

2018 ◽  
pp. 79-85
Author(s):  
Xinli Zheng
Keyword(s):  
International Reserve ◽  
Reserve Currency ◽  
Checks And Balances

Bancor Comes of Age: A Case for an Indian Bitcoin Reserve

2021 ◽  
pp. 097492842110681
Author(s):  
Ashwath Komath
Keyword(s):  
State Policy ◽  
International System ◽  
International Reserve ◽  
National Currency ◽  
Reserve Currency ◽  
John Maynard Keynes

John Maynard Keynes proposed the concept of ‘Bancor’ 1940 as a supranational currency that would serve as the international reserve currency. The concept did not take off at the time, although the underlying need to liberate the international system from the hegemonic tendencies of a national currency serving as a global medium of exchange. The emergence of Bitcoin makes it possible to revive the idea of a de-nationalised global medium of exchange. This article examines the feasibility of such an idea by examining a viable state policy for adoption and use in the international realm.

Concerns and Prospects of Yuan’s Internationalization

2014 ◽  
pp. 36-44
Author(s):  
M. Zharikov
Keyword(s):  
Economic Development ◽  
International Reserve ◽  
Reserve Currency ◽  
Cross Border ◽  
Border Trade ◽  
The Status ◽  
The Government ◽  
Financial Transactions ◽  
The Impact ◽  
Chinese Yuan

The purpose of this article is to analyze Chinese Yuan and major international reserve currencies on the basis of particular criteria such as a currency’s use in settling cross-border trade and financial transactions. The author estimates the potential of Yuan’s convertibility and its achieving the status of an international reserve currency. The author lays out a background to assess the impact of these probabilities on stable and sustainable economic development in China itself. The conclusion is that the character of Yuan’s internationalization is strikingly different from similar examples of other currencies’ historic paths to an international reserve currency status in that it is closely controlled by the government.

Renminbi Joins International Monetary Fund’s Special Drawing Rights Basket: Rationale and Significance

2017 ◽  
Vol 09 (03) ◽  
pp. 76-84
Author(s):  
Jing WAN
Keyword(s):  
Policy Coordination ◽  
International Reserve ◽  
Reserve Currency ◽  
Special Drawing ◽  
The Us ◽  
Push Forward ◽  
Us Dollar ◽  
The 2008 Financial Crisis ◽  
Special Drawing Rights ◽  
The International Monetary Fund

After the 2008 financial crisis, the International Monetary Fund realises that reforms are needed to reduce the reliance on the US dollar as the only international reserve currency. It began to nurture super-sovereign reserve money where SDR (Special Drawing Rights) is the most favourable candidate. Joining SDR will push forward China’s exchange rate reform to meet the standard of a real international reserve currency, which requires more skilful domestic and international policy coordination.

Russian Ruble as an International Reserve Currency

2008 ◽  
pp. 4-21 ◽  
Author(s):  
S. Moiseev
Keyword(s):  
Foreign Exchange Market ◽  
Inflation Rate ◽  
Exchange Rate Volatility ◽  
International Reserve ◽  
Policy Implications ◽  
Network Externality ◽  
Exchange Market ◽  
Reserve Currency ◽  
Russian Economy ◽  
International Status

Can the Russian ruble become an international reserve currency? By identifying the key determinants of the international status of national currency this paper estimates possibilities of the ruble. The significant determinants include: the size of the home country, inflation rate, exchange rate volatility, the size of the relevant home financial market, and network externality. The author believes that several factors are in favor of the Russian currency, in particular the turnover and liquidity of foreign exchange market, the size of foreign trade, the development of international market of debt securities in Russian ruble. The paper discusses some important policy implications of internationalization of the ruble for the Bank of Russia and the Russian economy in general.

scholarly journals A Study on the stability of international reserve currency

2018 ◽  
Vol 12 (1) ◽  
pp. 2519-2524
Author(s):  
Kaida Li
Keyword(s):  
Growth Rate ◽  
Supply And Demand ◽  
Stable Condition ◽  
Output Growth ◽  
International Reserve ◽  
Demand Model ◽  
Reserve Currency ◽  
Bretton Woods ◽  
Stable Conditions ◽  
The Stability

This article uses the dynamic analysis of the small country open economic framework (Obstfeld and Rogoff) to establish a basic supply and demand model of two countries, which solves the stable condition that the international reserve currency reaches the balance. The equilibrium stability condition of reserve currency is that the solvency growth rate of reserve currency countries is not lower than the real yield of reserve currency and the actual output growth rate of the non-reserve currency countries, while the reserve currency countries should have larger economic volume. The test of the Bretton Woods system and the contemporary international reserve currency system with stable conditions shows that the Bretton Woods system and the contemporary international reserve monetary system do not meet the stability conditions.

scholarly journals Growth and convergence/divergence in productivity under balance-of-payments constraint

2011 ◽  
Vol 70 (275) ◽  
Author(s):  
Esteban Pérez Caldentey ◽  
Anesa Ali
Keyword(s):  
Balance Of Payments ◽  
International Reserve ◽  
Reserve Currency

<p class="p1">This paper presents a model of convergence/divergence in productivity for</p><p class="p1">two economies of different size and development. More precisely the model</p><p class="p1">postulates the existence of leader and follower economies. The leader has</p><p class="p1">higher levels of productivity and is technologically more advanced. The</p><p class="p1">follower economy is closely linked to the leader economy. Finally, the leader</p><p class="p1">economy issues the international reserve currency.</p>

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