scholarly journals ANALYSIS OF THE CHANGING ROLE OF POUND STERLING WITHIN THE INTERNATIONAL MONETARY SYSTEM

2020 ◽  
pp. 39-44
Author(s):  
Garri Teslya ◽  
Tatiana Podolskaya
Keyword(s):  
World War Ii ◽  
Quantitative Research ◽  
Alternative Hypothesis ◽  
International Monetary System ◽  
Research Approach ◽  
Monetary System ◽  
The United Kingdom ◽  
The World ◽  
Common Opinion

The paper investigates how the role of the British currency has been changing within the international monetary system. This article is focused on sorting out why the world financial dominance of the United Kingdom was undermined and when exactly the dollar took over as the leading international currency. This question arises, because some authors, using evidence from the bond markets, state that the US dollar overtook sterling much earlier than in 1945, namely in 1929, while others adhere to another common opinion. Our study uses the quantitative research approach to examine the hypothesis questions. The null hypothesis states that the sterling lost its financial dominance before the World War II, while our alternative hypothesis claims that the dominance was lost after the same war.

scholarly journals The role of Anglo-German Naval Agreement in escalation of crisis trends of the Versailles system (based on the materials of new archival documents)

2020 ◽  
pp. 75-84
Author(s):  
Alexander Naumov
Keyword(s):  
World War Ii ◽  
World War I ◽  
International Relations ◽  
Political Elite ◽  
World War ◽  
Systemic Mechanism ◽  
The United Kingdom ◽  
The World ◽  
Archival Documents

This article reviews the role of Anglo-German Naval Agreement of 1935 in escalation of crisis trends of the Versailles system. Leaning on the British Russian archival documents, which recently became available for the researchers, the author analyzes the reasons and consequences of conclusion of this agreement between the key European democratic power and Nazi Reich. Emphasis is placed on analyzing the moods within the political elite of the United Kingdom. It is proven that the agreement became a significant milestone in escalation of crisis trends in the Versailles model of international relations. It played a substantial role in establishment of the British appeasement policy with regards to revanchist powers in the interbellum; policy that objectively led to disintegration of the created in 1919 systemic mechanism, and thus, the beginning of the World War II. The novelty of this work is substantiated by articulation of the problem. This article is first within the Russian and foreign historiography to analyze execution of the Anglo-German Naval Agreement based on the previously unavailable archival materials. The conclusion is made that this agreement played a crucial role in the process of disintegration of interbellum system of international relations. Having officially sanctioned the violation of the articles of the Versailles Treaty of 1919 by Germany, Great Britain psychologically reconciled to the potential revenge of Germany, which found reflection in the infamous appeasement policy. This launched the mechanism for disruption of status quo that was established after the World War I in Europe. This resulted in collapse of the architecture of international security in the key region of the world, rapid deterioration of relations between the countries, and a new world conflict.

The Role of IMF-Turkey Relationship on Strategic Investment Decision

2019 ◽  
pp. 215-235
Author(s):  
Seçil Şenel Uzunkaya
Keyword(s):  
World War Ii ◽  
Structural Adjustment ◽  
Investment Decision ◽  
International Monetary System ◽  
Strategic Investment ◽  
Monetary System ◽  
Turkish Economy ◽  
World Economic ◽  
The Imf

The International Money Fund was established as an intermediary to overcome the 1929 World Economic Depression and economic destruction of World War II, balance payment problems, imbalance of international monetary system, and shrinking international trade. However, the role of the IMF has changed with the new developments in the world economy, and after 1980 with its applications called “structural adjustment program,” IMF has increased its effectiveness, and it has become an important authority on the crisis occurred with the globalization. In this chapter, the historical development of IMF and Turkey's relationship and its effects on the Turkish economy is discussed. The economic conditions led Turkey to apply to the IMF and all of the agreements made between IMF and Turkey, and as a result of those, the macroeconomic parameters of the Turkish economy are evaluated. The effects of the IMF stability program on the Turkish economy, applied by Turkey as a result of the agreements made with IMF, are analyzed with VAR econometrical model. The effects of IMF loans on balance of payments, current account deficits, economic growth, and inflation rates are analyzed. The macroeconomic parameters are compared with t test to find out if there is any meaningful difference on those parameters between the periods with agreements made with IMF and the periods without any agreements.

THE ROLE AND ROLE OF OIL POLICY IN SAUDI ARABIA IN POST WORLD WAR II ECONOMIC LIFE

2019 ◽  
Vol 20 (2) ◽  
pp. 37-41
Author(s):  
Maftuna Sanoqulova ◽  
Keyword(s):  
Saudi Arabia ◽  
World War Ii ◽  
Economic Life ◽  
World War ◽  
Post World War Ii ◽  
The World ◽  
History Of ◽  
Oil Policy

This article consists of the politics which connected with oil in Saudi Arabia after the World war II , the relations of economical cooperations on this matter and the place of oil in the history of world economics

CRYPTOCURRENCY PHENOMENON IN THE INTERNATIONAL MONETARY SYSTEM

2017 ◽  
pp. 95-100
Author(s):  
Артур Анатолійович Василенко
Keyword(s):  
World Economy ◽  
International Monetary System ◽  
State University ◽  
Electronic Money ◽  
Monetary System ◽  
Current Trends ◽  
The World ◽  
Post Graduate Student ◽  
The One ◽  
Xix Century

UDC 336.74   Vasylenko Artur, post-graduate student. Mariupol State University. Cryptocurrency Phenomenon in the International Monetary System. The main prerequisites of cryptocurrency emergence in the international monetary system in terms of regionalization of the world economy are defined in the article. Determination of «cryptocurrency» category was analysed from the point of two main approaches to its treatment: on the one hand cryptocurrency is admitted to be the currency equally to the sovereign currency, and on the other hand it is considered as an unrecognized virtual asset. The main consequences which arise in case of widespread use of crypto currency for the country and for the parties that agreed to use cryptocurrency were analysed and systematized. On the basis of the research, given the current trends in the world economy, the author put forward and substantiated the hypothesis to classify the phenomenon of cryptocurrency as the effects of a famous philosophical «Negation of negation law» formulated by G. Hegel at the beginning of the XIX century.   Keywords: cryptocurrency, material money, electronic money, digital currency, regional currency integration, blockchain, mining, capitalization, «Negation of negation law».

Wilfred Ethier. Modern International Economics. New York: W. W. Norton and Company. 1983. xviii + 588 pp.

1988 ◽  
Vol 27 (1) ◽  
pp. 81-83
Author(s):  
Nadeem A. Burney
Keyword(s):  
International Economic ◽  
New York ◽  
Economic Theory ◽  
International Economics ◽  
International Monetary System ◽  
International Markets ◽  
The Past ◽  
Monetary System ◽  
Recent Developments

Its been long recognized that various economies of the world are interlinked through international trade. The experience of the past several years, however, has demonstrated that this economic interdependence is far greater than was previously realized. In this context, the importance of international economic theory as an area distinct from general economics hardly needs any mentioning. What gives international economic theory this distinction is international markets for some goods and effects of national sovereignty on the character of economic activity. Wilfred Ethier's book, which incorporates recent developments in the field, is an excellent addition to textbooks on international economics for one- or twosemester undergraduate courses. The book mostly covers standard topics. A distinguishing feature of this book is its detailed analysis of the flexible exchange rates and a discussion of the various approaches used for their determination. Within each chapter, the author has extensively used facts, figures and major events to clarify the concepts in the light of the theoretical framework. The book also discusses, in a fair amount of detail, the existing international monetary system and the role of various international organizations.

Charles de Gaulle and European Community

2020 ◽  
Vol 2020 (10-3) ◽  
pp. 70-81
Author(s):  
David Ramiro Troitino ◽  
Tanel Kerikmae ◽  
Olga Shumilo
Keyword(s):  
World War Ii ◽  
European Community ◽  
World War ◽  
Charles De Gaulle ◽  
The United Kingdom ◽  
History Of ◽  
The Common ◽  
Post War ◽  
De Gaulle

This article highlights the role of Charles de Gaulle in the history of united post-war Europe, his approaches to the internal and foreign French policies, also vetoing the membership of the United Kingdom in the European Community. The authors describe the emergence of De Gaulle as a politician, his uneasy relationship with Roosevelt and Churchill during World War II, also the roots of developing a “nationalistic” approach to regional policy after the end of the war. The article also considers the emergence of the Common Agricultural Policy (hereinafter - CAP), one of Charles de Gaulle’s biggest achievements in foreign policy, and the reasons for the Fouchet Plan defeat.

scholarly journals A Model of the International Monetary System*

2017 ◽  
Vol 133 (1) ◽  
pp. 295-355 ◽  
Author(s):  
Emmanuel Farhi ◽  
Matteo Maggiori
Keyword(s):  
Simple Model ◽  
Gold Standard ◽  
Supply And Demand ◽  
International Monetary System ◽  
Rate System ◽  
Monetary System ◽  
The World ◽  
The Common ◽  
Triffin Dilemma ◽  
World Supply

AbstractWe propose a simple model of the international monetary system. We study the world supply and demand for reserve assets denominated in different currencies under a variety of scenarios: a hegemon versus a multipolar world; abundant versus scarce reserve assets; and a gold exchange standard versus a floating rate system. We rationalize the Triffin dilemma, which posits the fundamental instability of the system, as well as the common prediction regarding the natural and beneficial emergence of a multipolar world, the Nurkse warning that a multipolar world is more unstable than a hegemon world, and the Keynesian argument that a scarcity of reserve assets under a gold standard or at the zero lower bound is recessionary. Our analysis is both positive and normative.

scholarly journals Alternative international currencies

2012 ◽  
Vol 57 (194) ◽  
pp. 31-39
Author(s):  
Vladimirovna Rozhentsova
Keyword(s):  
International Monetary System ◽  
International Currency ◽  
The Past ◽  
Monetary System ◽  
International Currencies ◽  
The World ◽  
Circulation Mechanism ◽  
The Creation

The modern international monetary system has a number of flaws and therefore needs cardinal change. Hence, economists from all over the world are suggesting alternative international currencies that would make the international monetary system more efficient. However, it is essential when approaching the creation of a new international currency to analyze and take into account the experience of all the past international currencies. Therefore this paper begins with an exploration of the drawbacks of each of the past and present international currencies. Drawing on this analysis a justification will be made for the necessity of introducing a new international currency, pointing to the requirements it should meet. Further on, this paper proposes an alternative theoretically possible variant of the international currency, with a fixed value relative to a commodity basket. An abstract example is used to demonstrate its composition and circulation mechanism.

scholarly journals PENGARUH SISTEM KEUANGAN DESA TERHADAP KINERJA PEMERINTAH DESA DENGAN GOOD GOVERNANCE SEBAGAI VARIABEL INTERVENING DI KABUPATEN KULON PROGO (Studi Kasus di Kecamatan Panjatan)

2020 ◽  
Vol 4 (2) ◽  
pp. 77-94
Author(s):  
Wihastinelahi Wihastinelahi ◽  
Teguh Erawati
Keyword(s):  
Quantitative Research ◽  
Good Governance ◽  
Financial System ◽  
Primary Data ◽  
Research Approach ◽  
The Village

This research was conducted to find out the role of village financial system (Siskeudes) on the performance of village administration with good governance as an intervening variable in Kulon Progo Regency. This research employed quantitative research approach. The data used were primary data. The informants used were village Kaur  and Kasi, the village secretaries, the village financial system operators (Siskeudes). The result showed that: (1) village financial system (Siskeudes) influences on the good governance; (2) good governance influences on the performance of the village administration; (3) village financial system (Siskeudes) no effect to performance of village administration; (4) village financial system (Siskeudes) on the performance of village administration with good governance an an intervening variable.

Does deal size moderate the effects of board faultlines? Evidence from acquisitions

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Daniel Tidbury ◽  
Steven F. Cahan ◽  
Li Chen
Keyword(s):  
Fixed Effects ◽  
Quantitative Research ◽  
Future Research ◽  
Research Approach ◽  
Strategic Decisions ◽  
Negative Effects ◽  
Content Type ◽  
Instrumental Variable Analysis

Purpose Board faultlines, which reflect intrinsic divisions of board members into relatively homogeneous subgroups, are associated with poor firm performance. This paper aims to extend the existing board faultline research by examining how acquisition deal size moderates the negative implications of board faultlines. Design/methodology/approach This paper uses a sample of acquisitions and a quantitative research approach to conduct statistical analysis. Findings Using a sample of acquisitions announced between 2007 and 2016, this paper finds evidence suggesting that strong faultlines are associated with poorer acquisition outcomes in the long-term, but not in the short term. Further, this paper finds that the effect of faultline strength on long-term acquisition outcomes is weaker for larger acquisition deals than smaller acquisition deals. The findings are consistent with deal size moderating the relation between faultlines and acquisition outcomes. Research limitations/implications This paper addresses possible endogeneity through firm fixed effects and instrumental variable analysis. Although this paper provides evidence on the moderating role of deal size in the context of faultlines, future research could examine the role of additional moderators, such as pro-diversity, trust, board leadership and board and task characteristics. Practical implications The findings suggest that boards need to be aware of situations where the negative effects of faultlines are more likely to come to the fore. For example, faultlines are more likely to play a role in more routine, obscure monitoring than for high-profile strategic decisions. Originality/value The study is multidisciplinary as it draws on the management, organizational behaviour and psychology and finance literature. It contributes to the developing literature on faultlines in several important ways. First, this paper supports their view that faultlines have adverse effects on board performance by showing that faultlines negatively impact discrete strategic investment decisions. Second, this paper provides evidence that deals size moderates the faultline-acquisition performance relation, indicating that the role of faultlines is contextual. Third, this paper finds evidence that suggests investors do not factor in board faultlines when responding to acquisition announcements.

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