World financial system in the conditions of crisis and prospects of creation the new reserve currencies
AbstractCredit crunch started with US subprime mortgage crisis spread to other parts of the world. Countries across the world call for reforms in international financial system. The author considers that financial crises catalyzes international tendencies to create regional currencies. Also, paper concludes that for Russian Ruble to become a regional currency much efforts need to be done in terms of increasing country’s attractiveness for foreign investors.
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Bibliographic InfoArticle provided by Prague Development Center in its journal Perspectives of Innovation in Economics and Business (PIEB).
Volume (Year): 2 (2009)
Issue (Month): 2 ()
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World currency system; financial crisis; reserve currency; regional currency; inflation; new currency creation;
Find related papers by JEL classification:
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
- F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
- G01 - Financial Economics - - General - - - Financial Crises
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