Global Roles of Currencies

Christian Thimann

Chapter 1 in Currency Internationalization: Global Experiences and Implications for the Renminbi, 2010, pp 3-41 from Palgrave Macmillan

Abstract: Abstract Policy discussions and academic contributions on the international role of currencies abound. They come in two strands. The first strand deals with the general importance of a given currency in the world economy, and its standing and significance in the international monetary system. These are the contributions that occasionally make media headlines, especially when they raise questions such as whether the dollar could lose its leading global status to the euro, why the yen has lost global importance, and if one day the Chinese renminbi could challenge one — or all three — of these currencies. The second strand of contributions focuses more narrowly on the cross-border use of currencies, analysing which currencies are used outside their home constituencies, by what type of economic agents and for what purposes.

Keywords: Financial Market; Euro Area; Equity Market; Foreign Exchange Market; International Currency (search for similar items in EconPapers)
Date: 2010
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Working Paper: Global roles of currencies (2009)
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DOI: 10.1057/9780230245785_1

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