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Replacement, Dominance and Recession of Dollar

Author

Listed:
  • Muhammad Akram

    (Hailey College of Commerce, Faculty of Commerce University of the Punjab, Lahore, Pakistan)

  • Muhammad Muazzam Mughal

    (Hailey College of Commerce, Faculty of Commerce University of the Punjab, Lahore, Pakistan)

  • Fatima Amin

    (M.Com. Scholars, Hailey College of Commerce University of the Punjab, Lahore, Pakistan)

  • Ayesha Farooqui

    (M.Com. Scholars, Hailey College of Commerce University of the Punjab, Lahore, Pakistan)

Abstract

Dollar is considered as dominant reserve currency all over the world. Literature gives a view of the whole life of dollar from its dominance till recession. Despite of financial ups and downs, dollar maintains its status for many years, as a reserve currency and as prominent currency in the settlement of international trade transaction. But now hyperinflationary forces and low economic growth rate makes the dollar susceptible to depression. The study attempts to analyze the proposed status of dollar in the presence of its pronounced competitors.

Suggested Citation

  • Muhammad Akram & Muhammad Muazzam Mughal & Fatima Amin & Ayesha Farooqui, 2011. "Replacement, Dominance and Recession of Dollar," Far East Journal of Psychology and Business, Far East Research Centre, vol. 4(2), pages 17-26, July.
    • Handle: RePEc:fej:articl:v:4a:y:2011:i:2:p:17-26
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    References listed on IDEAS

    as
    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2004. "The Modern History of Exchange Rate Arrangements: A Reinterpretation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 119(1), pages 1-48.
    2. Nicolas Coeurdacier & Philippe Martin, 2009. "The Geography of Asset Trade and the Euro: Insiders and Outsiders," NBER Chapters, in: Financial Globalization, 20th Anniversary Conference, NBER-TCER-CEPR, National Bureau of Economic Research, Inc.
    3. Goldberg, Linda & Tille, Cédric, 2009. "Macroeconomic interdependence and the international role of the dollar," Journal of Monetary Economics, Elsevier, vol. 56(7), pages 990-1003, October.
    4. Eichengreen, Barry & Flandreau, Marc, 2009. "The rise and fall of the dollar (or when did the dollar replace sterling as the leading reserve currency?)," European Review of Economic History, Cambridge University Press, vol. 13(3), pages 377-411, December.
    5. Henry G. Aubrey, 1960. "Gold and the Dollar Crisis," Challenge, Taylor & Francis Journals, vol. 9(2), pages 40-43, November.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Dollar; Dominance; Recession; Eagle; Dragon;
    All these keywords.

    JEL classification:

    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration

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