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Role of National Currencies in Transforming International Monetary System

In: Financial Markets Evolution

Author

Listed:
  • Vladimir Shapovalov

    (Moscow State Institute of International Relations (MGIMO University))

Abstract

The chapter provides a brief overview of use of Euro and Chinese Yuan for international operations. Availabe date shows that the process of transformation of the international monetary system as a result of substituting US dollar with other currencies happens at a very slow pace. European and Chinese experience confirmes that government support followed by interaction with global market participants, macroeconomic stability and financial market development is requred for national currencies promotion in international operations.

Suggested Citation

  • Vladimir Shapovalov, 2021. "Role of National Currencies in Transforming International Monetary System," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Galina Panova (ed.), Financial Markets Evolution, edition 1, pages 109-117, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-3-030-71337-9_8
    DOI: 10.1007/978-3-030-71337-9_8
    as

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