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Dollarization and the hegemonic status of the US dollar

Author

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  • Jean-François Ponsot

    (LEPII - Laboratoire d'Economie de la Production et de l'Intégration Internationale - UPMF - Université Pierre Mendès France - Grenoble 2 - CNRS - Centre National de la Recherche Scientifique)

Abstract

The U.S current account deficit and the depreciation of the dollar are signs of weakness for the U.S. dollar. However these do not put into question the hegemonic status of the U.S. dollar as international currency. The U.S. dollar is not ready to abandon its leadership as peg currency, reserve and intervention currency for Central Banks, financing and investment currency on global capital markets, invoicing currency for international trade and vehicle currency on the exchange markets. Dollarization shows that the power of the dollar is at its peak. In the short term, the euro will not substitute the dollar as the leading international currency.

Suggested Citation

  • Jean-François Ponsot, 2006. "Dollarization and the hegemonic status of the US dollar," Post-Print halshs-00191564, HAL.
    • Handle: RePEc:hal:journl:halshs-00191564
    as

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    Cited by:

    1. Jean-François Ponsot, 2009. "How could the Bank of the South promote sustainable development and regional monetary integration in Latin America ?," Post-Print halshs-00402260, HAL.
    2. Ponsot, Jean-François, 2016. "The “four I's” of the international monetary system and the international role of the euro," Research in International Business and Finance, Elsevier, vol. 37(C), pages 299-308.
    3. Jean-François Ponsot, 2009. "New financial architecture and regional monetary integration in Latin America," Post-Print halshs-00390436, HAL.

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