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Future Stance of Currencies in the International Monetary System

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  • Jana Kotlebova

    () (Economic University in Bratislava, Faculty of National Economy, Department of Banking and International Finance)

Abstract

The current global crisis is a manifestation of global imbalance. Higher creation of savings in emerging economies compared to developed countries; higher investments of developed economies in comparison with developing countries; the current account deficit of the balance of payments in developed countries as opposed to the current account surplus of the balance of payments in emerging economies create new conditions for future stance of currencies in the international monetary system. The future aspect of the international monetary system is, at present, a major topic of discussion for monetary authorities as well as supranational institutions. The intention of this contribution is to highlight the main trends in its development.

Suggested Citation

  • Jana Kotlebova, 2010. "Future Stance of Currencies in the International Monetary System," Economic Analysis, Institute of Economic Sciences, vol. 43(1-2), pages 61-69.
  • Handle: RePEc:ibg:eajour:v:43:y:2010:i:1-2:p:61-69
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    File URL: http://www.ien.bg.ac.rs/index.php/en/2010/2010-1-2
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    Keywords

    Global imbalance; savings; investment; foreign exchange reserves; balance of payment; importance of currencies for the international market; international monetary system;

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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