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Will the Dollar be Dethroned as the Main Reserve Currency?

Author

Listed:
  • Carbaugh Robert J

    () (Central Washington University)

  • Hedrick David W

    () (Central Washington University)

Abstract

The U.S. dollar was in the line of fire as leaders from the largest developed and developing countries participated in the G8 meeting in July, 2009. China and other emerging market heavyweights such as Russia and Brazil are pushing for debate on an eventual shift away from the dollar to a new global reserve currency. These countries are particularly concerned about the heavy debt burden of the United States and fear inflation will further debase the dollar which has lost 33 percent in value against other major currencies since 2002. Will the dollar continue as the main reserve currency of the world? What are the other currencies to watch as challengers to the throne? This paper addresses these questions.

Suggested Citation

  • Carbaugh Robert J & Hedrick David W, 2009. "Will the Dollar be Dethroned as the Main Reserve Currency?," Global Economy Journal, De Gruyter, vol. 9(3), pages 1-16, September.
  • Handle: RePEc:bpj:glecon:v:9:y:2009:i:3:n:1
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    Cited by:

    1. Jan Priewe, 2010. "What Went Wrong? Alternative interpretations of the global financial crisis," Competence Centre on Money, Trade, Finance and Development 1002, Hochschule fuer Technik und Wirtschaft, Berlin.
    2. Naude Wim, 2011. "Global Finance after the Crisis: Reform Imperatives and Vested Interests," Global Economy Journal, De Gruyter, vol. 11(2), pages 1-22, July.
    3. Allan Meltzer, 2011. "The IMF returns," The Review of International Organizations, Springer, vol. 6(3), pages 443-452, September.
    4. Vivekanand Jayakumar & Barbara Weiss, 2011. "Global reserve currency system: Why will the dollar standard give way to a tripolar currency order?," Frontiers of Economics in China, Springer;Higher Education Press, vol. 6(1), pages 92-130, March.
    5. Vincent C.S. Lim & Victor Pontines, 2012. "Global Imbalances: A Primer," Staff Papers, South East Asian Central Banks (SEACEN) Research and Training Centre, number sp86, April.

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