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Monetary Sovereignty and Economic Development

Author

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  • Assen Radev

Abstract

From the point of view of the rapid extending globalization the national money systems and their interaction rise exceptionally significant questions. Their solution should be reached by the way of monetary sovereignty, currency boards, official and unofficial currency substitution or by the establishment of new global currency. The study investigates the general impact of the monetary sovereignty on the economic development. The accent is focused upon clarification of the monetary sovereignty, courses that urge nations toward monetary sovereignty or to reject it. The study also examines the economic development of nations under different currency systems: monetary sovereignty with powerful Central bank, currency boards and official currency substitution.

Suggested Citation

  • Assen Radev, 2003. "Monetary Sovereignty and Economic Development," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 130-149.
    • Handle: RePEc:bas:econst:y:2003:i:1:p:130-149
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    References listed on IDEAS

    as
    1. Kenneth K. Kurihara, 1949. "Toward A New Theory of Monetary Sovereignty," Journal of Political Economy, University of Chicago Press, vol. 57, pages 162-162.
    2. Ruth A. Judson & Richard D. Porter, 1996. "The location of U.S. currency: how much is abroad?," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 82(Oct), pages 883-903, October.
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    More about this item

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • O42 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Monetary Growth Models

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