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The Euro Also Rises

Author

Listed:
  • Bala Batavia

    (DePaul University)

  • Parameswar Nandakumar

    (Indian Institute of Management Kozhikode)

  • Cheick Wague

    (Sodertorn University of Stockholm)

Abstract

It may seem now as if prophesies for a displacement of the dollar from its position of pre-eminence in the global economy were premature. However, the last word is not said yet on the rise of the euro In this paper, a fresh look is taken at the prospects for the euro emerging as the main vehicle and reserve currency in the world, looking in particular at the role of European financial markets and developments in the emerging markets of Asia. Output growth in the euro area and in the United States will have adecisive impact as well. The paper highlights the role of some key factors, not really taken up in related discussions thus far, which can influence the long-run global influence of the euro area economy relative to the U.S. Alternate energy source use scenarios and continued trade and financial integration in the euro area as well as in Asia are pointed out as having crucial impacts on the global role of the euro in the future.

Suggested Citation

  • Bala Batavia & Parameswar Nandakumar & Cheick Wague, 2009. "The Euro Also Rises," Working papers 47, Indian Institute of Management Kozhikode.
    • Handle: RePEc:iik:wpaper:47
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    File URL: https://iimk.ac.in/websiteadmin/FacultyPublications/Working%20Papers/47fullp.pdf?t=45
    File Function: First version, 2016
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