Assessment of Contemporary Currency Regimes

Yiting Wang ()
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Yiting Wang: Yangzhou University

A chapter in Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022), 2022, pp 408-414 from Springer

Abstract: Abstract The coronavirus pandemic causes a dramatically fall in global economic activity in recent history, with global GDP shrinking by 3.1%. Countries responded to this severe economic contraction with measures in the fiscal and financial sectors. For the first time, the central banks of the major member countries from the International Monetary Fund and some central banks of emerging market have adopted quantitative easing through asset purchase programs. Based on the Annual Report on Exchange Arrangements and Exchange Restrictions (AREAER) provided by IMF, this paper assesses the four contemporary types of exchange rate regimes with literature study as the main researching method, countries which adopt different currency regimes are also listed. The future direction and problems of the EURO are discussed in the light of the theory of optimal currency areas. Meanwhile, the emerging currency markets represented by the CNY are studied, including the international trend of CNY.

Keywords: contemporary monetary system; soft pegs; EURO Area; internationalization of CNY (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-052-7_47

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DOI: 10.2991/978-94-6463-052-7_47

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