INDICATIONS OF THE DE-DOLLARIZATION PROCESS IN THE WORLD - THROUGH A SPECIAL REVIEW OF BRICS ECONOMIES
Keywords:
world economy, money, currencies, dollar, de-dollarization
Abstract
In this paper, on the basis of empirical research, the conditions, perspectives and possibilities of replacing the dollar as the world's leading currency will be presented in a systematic and methodological way. In this sense, the paper follows the positioning of the dollar as the primary currency used for international reserves in the world. The presentation of the dollar as a reserve currency follows the comparison with other currencies and gold as well as the increase in the share of other currencies. In the paper, the potentials of the world's leading economies and BRICS countries were developed and presented through comparative analysis, with a presentation of research results and the potential of de-dollarization.
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ИНТЕРНЕТ ИЗВОРИ
https://www.cfr.org/backgrounder/dollar-worlds-currency .
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https://www.statista.com/chart/30638/brics-and-g7-share-of-global-gdp/
https://factcheck.bg/en/the-lies-of-kremlin-about-the-de-dollarization-of-the-global-economy/
Colin Weiss, Geopolitics and the U.S. Dollar’s Future as a Reserve Currency, October 2022, Number 1359, Board of Governors of the Federal Reserve System International, Finance Discussion Papers https://www.federalreserve.gov/econres/ifdp/files/ifdp1359.pdf
Allen, F. & Qian, J. (2014). „China's Financial System and the Law*‟. Cornell International Law Journal, 47 (3), 499–553.
Lin, J. Y. & Shen, Z. (2018). „Reform and development strategy‟. China's 40 Years of Reform and Development: 1978-2018. Ur. V R. Garnaut, L. Song & C. Fang. Canberra: Australian National University Press, 117– 35.
Chow, G. C. (2018). „China's economic transformation‟. China's 40 Years of Reform and Development: 1978-2018. Ur. V R. Garnaut, L. Song & C. Fang. Canberra: Australian National University Press, 93–116.
Gruin, J. & Knaack, P. (2020). „Not Just Another Shadow Bank: Chinese Authoritarian Capitalism and the ‘Developmental’ Authoritarian Capitalism and the ‘Developmental’‟. New Political Economy, 25(3), 370–387.
Kurtović, S., Siljković, B., Denić, N., Petković, D., Mladenović, S. S.,Mladenović, I., Milovancevic, M. 2018. Exchange rate pass-through and Southeast European economies," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 503(C), p.p. 400. (пронађено на адреси: https://isiarticles.com/bundles/Article/pre/pdf/106415.pdf).
Pan, L. & Mishra, V. (2018). „Stock market development and economic growth: Empirical evidence from China‟. Economic Modelling, 68 (1), 661–673.
Siljković, B., Barjaktarović, M.,Denić, N.2016.Osiguranje depozita i ulaganja u obnovljive Изворe energije u islamskom bankarstvu, Ecologica, N0 82, Naučno stručno društvo za zaštitu životne sredine Srbije, ISSN 0354-3285, str.371
Tan, Y. and Floros, C. (2012), "Bank profitability and inflation: the case of China", Journal of Economic Studies, Vol. 39 No. 6, pp. 675-696. https://doi.org/10.1108/01443581211274610 (пронађено на адреси: https://doi.org/10.1108/01443581211274610
Eichengreen, Barry (2014). International Currencies Past, Present and Future: Two Views from Economic History. - Bank of Korea Working Paper No.2014-31 https://ssrn.com/abstract=2580651 or http://dx.doi.org/10.2139/ssrn.2580651, https://www.cfr.org/backgrounder/dollar-worlds-currency
RBC Wealth Management, Bloomberg, International Monetary Fund, Bank of England, Statista, GovInfo, Atul Bhatia, april 2023., Is the U.S. dollar still a viable reserve currency? I(пронађено на адреси: https://www.rbcwealthmanagement.com/en-asia/insights/is-the-us-dollar-still-a-viable-reserve-currency
Eagle, James (2021). Here’s How Reserve Currencies have Evolved Over 120 Years. – Visual Capitalist. 2021. Https://www.visualcapitalist.com/cp/how-reserve-currencies-evolved-over-120-years/.
IMF (2023). World Currency Composition of Official Foreign Exchange Reserves. International Monetary Fund.
ИНТЕРНЕТ ИЗВОРИ
https://www.cfr.org/backgrounder/dollar-worlds-currency .
https://www.visualcapitalist.com/cp/how-reserve-currencies-evolved-over-120-years/
https://www.visualcapitalist.com/de-dollarization-countries-seeking-alternatives-to-the-u-s-dollar/
https://www.silkroadbriefing.com/news/2023/03/27/the-brics-has-overtaken-the-g7-in-global-gdp/
https://economictimes.indiatimes.com/wealth/invest/the-de-dollarization-trend-is-accelerating-how-it-will-impac
https://businessday.ng/world/article/brics-nations-to-account-for-32-1-of-global-gdp-in-2023-report/
https://timesofindia.indiatimes.com/blogs/economic-policy/how-brics-countries-have-overtaken-the-g7-in-gdp-based-on-ppps/
https://twitter.com/jodigraphics15/status/609680271043133441/photo/1
https://data.imf.org/?sk=e6a5f467-c14b-4aa8-9f6d-5a09ec4e62a4
https://www.ambit.co/public/Newsletter_May_0523_INR_FINAL..pdf
https://www.statista.com/chart/30638/brics-and-g7-share-of-global-gdp/
https://factcheck.bg/en/the-lies-of-kremlin-about-the-de-dollarization-of-the-global-economy/