MODERN ASPECTS OF MONETARY GLOBALIZATION

Ivan Luchian () and Alexandra Tvircun ()
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Ivan Luchian: International Institute of Management IMI-NOVA, Republic of Moldova
Alexandra Tvircun: National Institute of Economic Researches, Republic of Moldova

Contemporary Economy Journal, 2018, vol. 3, issue 3, 90-99

Abstract: Monetary globalization is a specific form of financial globalization withinoverall process of economic integration. At the same time, it is a superlativemanifestation of trends in internationalization of foreign exchange relations.Its main aspect is the continued development of international currency market.Monetary globalization is linked to contradictory processes, such as currencymonopoly and currency polycentrism. The first is related to global dominationof a single currency. The second - toemergence and global use of more freely usable currencies. Similarly, theprocess of currency regionalization is remarkable. Besides, it is important tocreate a single global currency issued by a world level financial body. Allthese aspects of the development of monetary globalization are reflected inthis article.

Keywords: currency; monetary globalization; monetary regionalism; foreign exchange market (search for similar items in EconPapers)
JEL-codes: F31 F36 F65 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:brc:brccej:v:3:y:2018:i:3:p:90-98

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