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Bude americký dolar nadále dominantní světovou rezervní měnou?
[Will Us Dollar Continue as the World Most Important Reserve Currency?]

Author

Listed:
  • Kamil Janáček
  • Luboš Komárek

Abstract

The article aims to show both the still very strong position of the USD in the global financial system and assess its likely future position. It illustrates that although the U.S. is no longer the dominant global economic power that it was when the dollar became the global reserve currency, the dollar so far is not in immediate danger of losing its privileged position. Despite the challenges facing the USD as the global reserve currency, it continues its dominant role since no other currency has shown itself strong and credible enough to replace it. Considerations on replacing dollar with other currency are no more than a speculation.

Suggested Citation

  • Kamil Janáček & Luboš Komárek, 2012. "Bude americký dolar nadále dominantní světovou rezervní měnou? [Will Us Dollar Continue as the World Most Important Reserve Currency?]," Politická ekonomie, Prague University of Economics and Business, vol. 2012(1), pages 3-19.
  • Handle: RePEc:prg:jnlpol:v:2012:y:2012:i:1:id:829:p:3-19
    DOI: 10.18267/j.polek.829
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    References listed on IDEAS

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    1. Menzie Chinn & Jeffrey A. Frankel, 2007. "Will the Euro Eventually Surpass the Dollar as Leading International Reserve Currency?," NBER Chapters, in: G7 Current Account Imbalances: Sustainability and Adjustment, pages 283-338, National Bureau of Economic Research, Inc.
    2. Sjaastad, Larry A. & Scacciavillani, Fabio, 1996. "The price of gold and the exchange rate," Journal of International Money and Finance, Elsevier, vol. 15(6), pages 879-897, December.
    3. Jan Frait & Luboš Komárek, 2006. "Půlstoletí vývoje světových peněz [Half a century of the world money development]," Politická ekonomie, Prague University of Economics and Business, vol. 2006(3), pages 307-325.
    4. Barry Eichengreen, 2005. "Sterling's Past, Dollar's Future: Historical Perspectives on Reserve Currency Competition," NBER Working Papers 11336, National Bureau of Economic Research, Inc.
    5. Linda S. Goldberg, 2010. "Is the international role of the dollar changing?," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 16(Jan).
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    1. repec:cnb:ocpubv:rb13/1 is not listed on IDEAS
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    More about this item

    Keywords

    US dollar; FX reserves; renminbi;
    All these keywords.

    JEL classification:

    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative

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