Causes and Consequences of the Crisis in the Eurozone

Sergey Narkevich and Pavel Trunin

Voprosy Ekonomiki, 2012, issue 12

Abstract: In recent years the discussion of the role played by reserve currencies in the world economy has reached a new level. Problems caused by the domination of the single reserve currency have not yet been resolved and it remains unclear when and how they will be solved in the future. At the same time quite often the discussion doesn’t include theoretical foundations of different alternatives. In this article we try to develop a strict foundation of the regional reserve currency concept, present theoretical arguments for the factors of reserve currencies’ formation and estimate the potential of the Russian ruble as a regional reserve currency.

Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2012:id:489

DOI: 10.32609/0042-8736-2012-12-84-97

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