IDEAS home Printed from https://ideas.repec.org/a/abd/kauiea/v30y2017i2no6p65-70.html
   My bibliography  Save this article

Reform Proposals in the Monetary System for Attaining Global Economic Stability مقترحات الإصلاح في النظام النقدي من أجل تحقيق الاستقرار الاقتصادي العالمي

Author

Listed:
  • Mark Jo?b

    (Professor at the West Hungarian University, Faculty of Economics and Researcher at the Institute for Business Ethics, University of St. Gallen, Switzerland)

Abstract

In this article, I will first scrutinize Bernard Lietaer’s Trade Reference Currency (TRC) concept by placing it in the context of the existing monetary system and evaluating its operational features. Then I will describe some features that are not included in the TRC concept but, in my opinion, are essential to an international monetary system that effectively promotes global economic stability.

Suggested Citation

  • Mark Jo?b, 2017. "Reform Proposals in the Monetary System for Attaining Global Economic Stability مقترحات الإصلاح في النظام النقدي من أجل تحقيق الاستقرار الاقتصادي العالمي," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 30(2), pages 65-70, July.
  • Handle: RePEc:abd:kauiea:v:30:y:2017:i:2:no:6:p:65-70
    DOI: 10.4197/Islec.30-2.6
    as

    Download full text from publisher

    File URL: https://iei.kau.edu.sa/Files/121/Files/153872_30-02-06-Joob-3.pdf
    Download Restriction: no

    File URL: https://libkey.io/10.4197/Islec.30-2.6?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Werner, Richard A., 2014. "Can banks individually create money out of nothing? — The theories and the empirical evidence," International Review of Financial Analysis, Elsevier, vol. 36(C), pages 1-19.
    2. Bernard Lietaer, 2017. "A Possibly Sharīʿah-Compatible Global Currency to Stabilize the Monetary System عملة عالمية متوافقة مع الشريعة الإسلامية لتحقيق استقرار النظام النقدي," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 30(2), pages 47-58, July.
    3. McLeay, Michael & Radia, Amar & Thomas, Ryland, 2014. "Money creation in the modern economy," Bank of England Quarterly Bulletin, Bank of England, vol. 54(1), pages 14-27.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Adam Abdullah, 2020. "Modern Monetary Theory or Islamic Monetary Theory of Value? Evidence from Malaysia النظرية النقدية الحديثة أم نظرية النقد الإسلامي للقيمة؟ أدلة من ماليزيا," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 33(2), pages 25-46, July.
    2. repec:abd:kauiea:v:30:y:2017:i:2:p:65-70 is not listed on IDEAS
    3. Avner Offer, 2017. "The market turn: from social democracy to market liberalism," Economic History Review, Economic History Society, vol. 70(4), pages 1051-1071, November.
    4. Imad A. Moosa, 2018. "The economic rationale for the proposed banking reform in Iceland," Journal of Banking Regulation, Palgrave Macmillan, vol. 19(4), pages 317-326, November.
    5. Levrero, Enrico Sergio & Deleidi, Matteo, 2017. "The money creation process: A theoretical and empirical analysis for the US," MPRA Paper 81970, University Library of Munich, Germany.
    6. Pokrovskii, Vladimir N. & Schinckus, Christophe, 2016. "An elementary model of money circulation," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 463(C), pages 111-122.
    7. Li, Boyao, 2024. "A balance sheet analysis of monetary policy effects on banks," Global Finance Journal, Elsevier, vol. 61(C).
    8. Caiani, Alessandro & Godin, Antoine & Caverzasi, Eugenio & Gallegati, Mauro & Kinsella, Stephen & Stiglitz, Joseph E., 2016. "Agent based-stock flow consistent macroeconomics: Towards a benchmark model," Journal of Economic Dynamics and Control, Elsevier, vol. 69(C), pages 375-408.
    9. van Eeghen, Piet-Hein, 2021. "Funding money-creating banks: Cash funding, balance sheet funding and the moral hazard of currency elasticity," International Review of Financial Analysis, Elsevier, vol. 76(C).
    10. Schinckus, Christophe & Altukhov, Yurii A. & Pokrovskii, Vladimir N., 2018. "Empirical justification of the elementary model of money circulation," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 493(C), pages 228-238.
    11. Xing, Xiaoyun & Pan, Huanxue & Deng, Jing, 2022. "Carbon tax in a stock-flow consistent model: The role of commercial banks in financing low-carbon transition," Finance Research Letters, Elsevier, vol. 50(C).
    12. Beltrametti, Luca & Pittaluga, Giovanni Battista, 2023. "Monetary Policy Implications of Stablecoins and CBDCs," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 76(3), pages 453-478.
    13. Xing, Xiaoyun & Xiong, Wanting & Chen, Liujun & Chen, Jiawei & Wang, Yougui & Stanley, H. Eugene, 2018. "Money circulation and debt circulation: A restatement of quantity theory of money," Economics Discussion Papers 2018-1, Kiel Institute for the World Economy (IfW Kiel).
    14. Bofinger, Peter & Geißendörfer, Lisa & Haas, Thomas & Mayer, Fabian, 2021. "Discovering the True Schumpeter - New Insights into the Finance and Growth Nexus," CEPR Discussion Papers 16851, C.E.P.R. Discussion Papers.
    15. Ponomarenko, Alexey, 2019. "Do sterilized foreign exchange interventions create money?," Journal of Asian Economics, Elsevier, vol. 62(C), pages 1-16.
    16. Werner, Richard A., 2014. "How do banks create money, and why can other firms not do the same? An explanation for the coexistence of lending and deposit-taking," International Review of Financial Analysis, Elsevier, vol. 36(C), pages 71-77.
    17. Li, Boyao, 2017. "The impact of the Basel III liquidity coverage ratio on macroeconomic stability: An agent-based approach," Economics Discussion Papers 2017-2, Kiel Institute for the World Economy (IfW Kiel).
    18. Marco Raberto & Bulent Ozel & Linda Ponta & Andrea Teglio & Silvano Cincotti, 2016. "From financial instability to green finance: the role of banking and monetary policies in the Eurace model," Working Papers 2016/07, Economics Department, Universitat Jaume I, Castellón (Spain).
    19. Marco Raberto & Bulent Ozel & Linda Ponta & Andrea Teglio & Silvano Cincotti, 2019. "From financial instability to green finance: the role of banking and credit market regulation in the Eurace model," Journal of Evolutionary Economics, Springer, vol. 29(1), pages 429-465, March.
    20. Alexey Ponomarenko, 2017. "A note on money creation in emerging market economies," Journal of Financial Economic Policy, Emerald Group Publishing Limited, vol. 9(1), pages 70-85, April.
    21. Fedotenkov, Igor, 2018. "Population ageing and inflation with endogenous money creation," Research in Economics, Elsevier, vol. 72(3), pages 392-403.

    More about this item

    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:abd:kauiea:v:30:y:2017:i:2:no:6:p:65-70. See general information about how to correct material in RePEc.

    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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: King Abdulaziz University, Islamic Economics Institute. (email available below). General contact details of provider: https://edirc.repec.org/data/cikausa.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.