Dollarization and the hegemonic status of the US dollar

Jean-Francois Ponsot

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Abstract: The U.S current account deficit and the depreciation of the dollar are signs of weakness for the U.S. dollar. However these do not put into question the hegemonic status of the U.S. dollar as international currency. The U.S. dollar is not ready to abandon its leadership as peg currency, reserve and intervention currency for Central Banks, financing and investment currency on global capital markets, invoicing currency for international trade and vehicle currency on the exchange markets. Dollarization shows that the power of the dollar is at its peak. In the short term, the euro will not substitute the dollar as the leading international currency.

Keywords: Etats-Unis; dollar; monnaie; politique monétaire; système financier; hégémonie; marché international; économie internationale; U.S. dollar; euro; international currency; dollarization; United-States (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (3)

Published in Rochon L.P., Rossi S. Monetary and exchange rate systems : a global view on financial crises, E. Elgar, pp.22-37, 2006

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00191564

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