IDEAS home Printed from https://ideas.repec.org/a/ers/journl/vxxy2017i3bp269-279.html
   My bibliography  Save this article

Development of the International Monetary System Conditions of Globalization

Author

Listed:
  • I.N. Efremenko
  • L. Haabazoka
  • V.A. Larionov

Abstract

This paper outlines the modern trends in the development of the international monetary system in conditions of financial globalization.The paper establishes that the international monetary system has evolved through different stages necessitated by various economic crises at different periodic intervals. It is noted in the paper that despite the inefficiencies in the current dollar denominated international monetary system developed countries are reluctant to do any reforms.However, International monetary system reform is obvious and most likely will happen under the growing crisis in the international financial systems and credit relations. It is proposed that countries look at new innovations that will make international transactions cheaper and less risky.

Suggested Citation

  • I.N. Efremenko & L. Haabazoka & V.A. Larionov, 2017. "Development of the International Monetary System Conditions of Globalization," European Research Studies Journal, European Research Studies Journal, vol. 0(3B), pages 269-279.
    • Handle: RePEc:ers:journl:v:xx:y:2017:i:3b:p:269-279
    as

    Download full text from publisher

    File URL: http://ersj.eu/dmdocuments/2017-xx-3-b-25.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Alain Ize & Andrew Powell, 2003. "Prudential Responses to De Facto Dollarization," Business School Working Papers defactodollarization, Universidad Torcuato Di Tella.
    2. Eichengreen, Barry, 1987. "Hegemonic Stability Theories of the International Monetary System," CEPR Discussion Papers 193, C.E.P.R. Discussion Papers.
    3. Matthew Canzoneri & Robert E. Cumby & Behzad Diba & David Lopez-Salido, 2008. "The Macroeconomic Implications of a Key Currency," NBER Working Papers 14242, National Bureau of Economic Research, Inc.
    4. Jean-Pierre Allegret & Helene Raymond & Houda Rharrabti, 2016. "The Impact of the Eurozone Crisis on European Banks Stocks Contagion or Interdependence?," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 129-148.
    5. Florin Teodor Boldeanu & Ileana Tache, 2016. "The Financial System of the EU and the Capital Markets Union," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 59-70.
    6. Ramona Rupeika-Apoga & Roberts Nedovis, 2015. "The Foreign Exchange Exposure of Non-Financial Companies in Eurozone: Myth or Reality?," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 54-66.
    7. Eleftherios I. Thalassinos & Theodoros Stamatopoulos & Pantelis E. Thalassinos, 2015. "The European Sovereign Debt Crisis and the Role of Credit Swaps," World Scientific Book Chapters, in: Anastasios G Malliaris & William T Ziemba (ed.), THE WORLD SCIENTIFIC HANDBOOK OF FUTURES MARKETS, chapter 20, pages 605-639, World Scientific Publishing Co. Pte. Ltd..
    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. Andrei V. Vlasov, 2017. "The Evolution of E-Money," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 215-224.
    2. Zulfi Diane Zaini, 2018. "Functions of the Bank of Indonesia as Lender ofLast Resort for Banks\' Safety," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 607-621.
    3. Winston Pontoh, 2017. "The Capital Structure: Is Debt just a Policy or Requerement?," European Research Studies Journal, European Research Studies Journal, vol. 0(2A), pages 128-139.
    4. Xanthippi Chapsa & Nikolaos Tabakis & Athanasios L. Athanasenas, 2018. "Investigating the Catching-Up Hypothesis Using Panel Unit Root Tests: Evidence from the PIIGS," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 250-271.
    5. N.G. Vovchenko & M.G. Holina & A.S. Orobinskiy & R.A. Sichev, 2017. "Ensuring Financial Stability of Companies on the Basis of International Experience in Construction of Risks Maps, Internal Control and Audit," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 350-368.
    6. Kristina Bojare & Inna Romanova, 2017. "The Factors Affecting the Profitability of Banks: The Case of Latvia," European Research Studies Journal, European Research Studies Journal, vol. 0(3A), pages 905-919.
    7. Constantin Zaman & Bogdan Meunier, 2017. "A Decade of EU Membership: Evolution of Competitiveness in Romania," European Research Studies Journal, European Research Studies Journal, vol. 0(2A), pages 224-236.
    8. Peter J Baldacchino & Rosalene Caruana & Simon Grima & Frank H. Bezzina, 2017. "Selected Behavioural Factors in Client-Initiated Auditor Changes: The Client-Auditor Perspectives," European Research Studies Journal, European Research Studies Journal, vol. 0(2A), pages 16-47.
    9. Elena G. Popkova & Ekaterina A. Popova & Irina P. Denisova & Elena V. Porollo, 2017. "New Approaches to Modernization of Spatial and Sectorial Development of Russian and Greek Regional Economy," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 129-136.
    10. I.P. Denisova & S.N. Rukina & K.N. Samoylova & A.S. Takmazyan, 2017. "Financial Instruments of the Socially Responsible Economy," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 284-293.
    11. L.Yu. Andreeva & O.Yu. Sviridov, 2017. "Experience of Greece on Recapitalization of Banks, Marketing Management and Personnel Retraining in Conditions of Economic Recession," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 390-409.
    12. V.V. Aksenov & A.V. Andreeva & G.A. Buryakov, 2017. "The Influence of Financial and Industrial Policy on Harmonization of European and Asian Integration Processes," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 369-389.
    13. Zulfi Diane Zaini, 2018. "Functions of the Bank of Indonesia as Lender ofLast Resort for Banks\' Safety," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 607-621.
    14. Agrianti Komalasari, 2017. "Implementation the International Financial Reporting Standards as a Moderating Variable of the Relationship of Corporate Governance with Earnings Management," European Research Studies Journal, European Research Studies Journal, vol. 0(3A), pages 259-277.
    15. Ramona Rupeika-Apoga & Irina Solovjova, 2017. "Access to Finance for Latvian SMEs," European Research Studies Journal, European Research Studies Journal, vol. 0(3A), pages 57-68.
    16. Garnov & A. & Zvyagin & L. & Sviridova & O., 2019. "System Data Analysis: Innovative Technologies, Methods and Techniques," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 1), pages 26-39.
    17. Nikolay Tikhonovich Labyntsev & Elena Aleksandrovna Sharovatova & Irina Aleksandrovna Omelchenko & Tatyana Valeryevna Makarenko, 2017. "Tendencies of Standardisation of Management Accounting in Russian and International Practices," European Research Studies Journal, European Research Studies Journal, vol. 0(3B), pages 45-60.
    18. Sergey Narkevich & Pavel Trunin, 2012. "Reserve Currencies: Factors of Evolution and their Role in the World Economy," Research Paper Series, Gaidar Institute for Economic Policy, issue 162P.
    19. Faris Nasif Al Shubiri & Syed Ahsan Jamil, 2017. "Assessing the Determinants of Interest Rate Spread of Commercial Banks in Oman: An Empirical Investigation," European Research Studies Journal, European Research Studies Journal, vol. 0(2A), pages 90-108.
    20. Noemi Pena-Miguel & Javier Corral-Lage & J. Inaki De La Pena Esteban & University of the Basque Country (UPV/EHU), 2017. "A First Approach to a Public Financial Information System for Social Benefits," European Research Studies Journal, European Research Studies Journal, vol. 0(2A), pages 109-127.

    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:ers:journl:v:xx:y:2017:i:3b:p:269-279. 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: Marios Agiomavritis (email available below). General contact details of provider: https://ersj.eu/ .

    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.