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The dominance of the dollar and its sustainability in the international monetary system
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Date
2008
Author
Köse, Tekin
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The aim of this thesis is to analyze and evaluate the dominance of the dollar and its sustainability in the international monetary system in the light of recent literature and relevant statistical data. Considering the determinants of an international currency, this thesis focuses on the linkages of the dominance of the dollar with the challenge of the euro as an alternative international currency, the current account deficit of the U.S. and foreign exchange reserve accumulation and reserve diversification decision of foreign central banks. The analysis on these determinants indicates that the U.S. dollar is facing many challenges and may face further challenges in sustaining its dominance as an international currency. Given the significance of the U.S. economy and dominance of the dollar as an international currency, the findings of this study indicate that although the euro has not much potential to surpass the dollar as an international currency in the short-term, it is more likely for the international monetary system to witness the existence of multiple international currencies and decline in the degree of the dominance of the dollar in the 21st century.
Subject Keywords
Economics.
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http://etd.lib.metu.edu.tr/upload/12609605/index.pdf
https://hdl.handle.net/11511/18158
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Graduate School of Social Sciences, Thesis
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T. Köse, “The dominance of the dollar and its sustainability in the international monetary system,” M.S. - Master of Science, Middle East Technical University, 2008.