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Modern Aspects Of Monetary Globalization

Author

Listed:
  • Ivan LUCHIAN

    (International Institute of Management IMI-NOVA, Republic of Moldova)

  • Alexandra TVIRCUN

    (National Institute of Economic Researches, Republic of Moldova)

Abstract

Monetary globalization is a specific form of financial globalization withinoverall process of economic integration. At the same time, it is a superlativemanifestation of trends in internationalization of foreign exchange relations.Its main aspect is the continued development of international currency market.Monetary globalization is linked to contradictory processes, such as currencymonopoly and currency polycentrism. The first is related to global dominationof a single currency. The second - toemergence and global use of more freely usable currencies. Similarly, theprocess of currency regionalization is remarkable. Besides, it is important tocreate a single global currency issued by a world level financial body. Allthese aspects of the development of monetary globalization are reflected inthis article.

Suggested Citation

  • Ivan LUCHIAN & Alexandra TVIRCUN, 2018. "Modern Aspects Of Monetary Globalization," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 3(3), pages 90-99.
    • Handle: RePEc:brc:brccej:v:3:y:2018:i:3:p:90-98
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    References listed on IDEAS

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    1. Arestis, Philip & Basu, Santonu, 2004. "Financial globalisation and regulation," Research in International Business and Finance, Elsevier, vol. 18(2), pages 129-140, June.
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    More about this item

    Keywords

    currency; monetary globalization; monetary regionalism; foreign exchange market;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F65 - International Economics - - Economic Impacts of Globalization - - - Finance

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