The Global Currency Power of the US Dollar

Problems and Prospects

Authors: Elson, Anthony

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  • Offers a detailed analysis of why the dollar serves as the dominant currency of the global financial system
  • Provides a balanced assessment of the main benefits and costs of this dollar-centered system
  • Considers three alternative currency arrangements that could address the main concerns about the current system
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eBook 93,08 €
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  • ISBN 978-3-030-83519-4
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Hardcover 114,39 €
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  • ISBN 978-3-030-83518-7
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About this book

This book explains how the US dollar serves as the primary reserve currency for the international financial system and assesses its prospects for the future. The book provides an analysis of the main factors that have given rise to the global currency power of the dollar and the key benefits that have accrued to both the United States and other countries from this arrangement. It then considers the growing costs that can be associated with the dollar-centered reserve system and the prospects for the medium-term in terms of its potential threats to global financial stability. In the light of these considerations, the book examines three alternative currency arrangements that could address some or all of the defects associated with the global currency power of the dollar. These include a shift to a multi-reserve currency system, an enhancement of the IMF’s role as an international lender of last resort and provider of global “safe” assets, and the introduction of central bank digital currencies. 

About the authors

Anthony Elson is an international economist, writer, and university lecturer residing in the Washington, D.C. area. For a number of years, he was a senior staff member of the International Monetary Fund. Since leaving the Fund, he has worked as a consultant for the World Bank and has taught at Duke, Johns Hopkins and Yale Universities. He has also been a Senior Associate at St. Antony’s College (Oxford University), a Visiting Fellow at the London School of Economics, and the AGIP Professor of International Economics at the Johns Hopkins SAIS European Center. He is the author of four previous books on globalization published by Palgrave Macmillan: Governing Global Finance: The Evolution and Reform of the International Financial Architecture (2011); Globalization and Development: Why East Asia Surged Ahead and Latin America Fell Behind (2013); The Global Financial Crisis in Retrospect: Evolution, Resolution and Lessons for Prevention (2017); and The United States in the World Economy: Making Sense of Globalization (2019).

Table of contents (10 chapters)

Table of contents (10 chapters)

Buy this book

eBook 93,08 €
price for Spain (gross)
  • ISBN 978-3-030-83519-4
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 114,39 €
price for Spain (gross)
  • ISBN 978-3-030-83518-7
  • Free shipping for individuals worldwide
  • Institutional customers should get in touch with their account manager
  • Shipping restrictions
  • Usually ready to be dispatched within 3 to 5 business days, if in stock
  • The final prices may differ from the prices shown due to specifics of VAT rules
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Bibliographic Information

Bibliographic Information
Book Title
The Global Currency Power of the US Dollar
Book Subtitle
Problems and Prospects
Authors
Copyright
2021
Publisher
Palgrave Macmillan
Copyright Holder
The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG
eBook ISBN
978-3-030-83519-4
DOI
10.1007/978-3-030-83519-4
Hardcover ISBN
978-3-030-83518-7
Edition Number
1
Number of Pages
XV, 205
Number of Illustrations
1 b/w illustrations
Topics