IDEAS home Printed from https://ideas.repec.org/a/ine/journl/tome23y2006(xvi)i2(32)p140-155.html
   My bibliography  Save this article

Tripolarisation Of The Currencies In The World Economy: Us Dollar – Euro – Yen

Author

Listed:
  • Ramona TOMA

    (“Lucian Blaga” University, Sibiu)

Abstract

At present, the world economy is dominated by three poles – the USA, the European Union and Japan – among which there should be real co-operation to ensure the international stability on all levels. The introduction of the euro was perceived by the experts as the beginning of the competition among the currencies on the international financial markets. The European Monetary Union was conceived to cause an internal, not an external change, with an economic and financial purpose and as a further step of the European integration. Moreover, the international monetary system does not allow the European single currency to make gains that might cause losses to the US dollar. Both currencies have room in the world economy, but the euro has been beneficial to both the euro area and the rest of the world. At present, the euro is stronger than the sum of the twelve former national currencies. The consolidation of the national economies of the euro area becomes stronger due to the impact on liquidities, to the various investment opportunities for the entities that manage the financial portfolios and the central banks that manage the foreign currency reserves. The competition among the currencies means more opportunities in the world economy: the euro is an international currency used along with the US dollar and the yen, not against them.

Suggested Citation

  • Ramona TOMA, 2006. "Tripolarisation Of The Currencies In The World Economy: Us Dollar – Euro – Yen," Romanian Journal of Economics, Institute of National Economy, vol. 23(2(32)), pages 140-155, December.
  • Handle: RePEc:ine:journl:tome:23:y:2006(xvi):i:2(32):p:140-155
    as

    Download full text from publisher

    File URL: http://www.revecon.ro/articles/2006-2/2006-2-13.pdf
    Download Restriction: no

    More about this item

    Keywords

    world economy; currencies; European integration;

    JEL classification:

    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
    • F39 - International Economics - - International Finance - - - Other

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ine:journl:tome:23:y:2006(xvi):i:2(32):p:140-155. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Valentina Vasile). General contact details of provider: http://edirc.repec.org/data/inacaro.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.