The international monetary system: Toward a more multipolar configuration?

Jeremy Srouji ()
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Jeremy Srouji: GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur, ISS - International Institute of Social Studies (ISS), Erasmus University Rotterdam

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Abstract: The international monetary system is evolving toward a more multipolar configuration, with the transition being driven as much by fundamentals as by increasing uncertainty at the heart of the system. In this chapter we assess the trajectories of the "big four" (EUR, GBP, JPY, USD) and secondary currencies (AUD, CAD, CHF, CNY) in the past decade and find that the system is increasingly ill-adapted to the reconfiguration of the global economy, bringing to the forefront the need for a reliable alternative international reserve asset that can supplement traditional reserves in euro, pound, yen and US dollar.

Keywords: international monetary system; international reserves; payment currency; invoicing currency (search for similar items in EconPapers)
Date: 2023-11-01
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Published in Encyclopedia of Monetary Policy, Financial Markets and Banking, Elsevier, 2023, 9780443157851. ⟨10.1016/B978-0-44-313776-1.00161-6⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-04297969

DOI: 10.1016/B978-0-44-313776-1.00161-6

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