The Dollar Trap (eBook)

How the U.S. Dollar Tightened Its Grip on Global Finance

Eswar S. Prasad (Autor)

eBook Download: PDF | EPUB

2015
440 Seiten
Princeton University Press (Verlag)
978-1-4008-7364-7 (ISBN)

Infos

Eswar S. Prasad is a professor in the Dyson School at Cornell University and senior fellow at the Brookings Institution.

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Why the dollar is-and will remain-the dominant global currencyThe U.S. dollar's dominance seems under threat. The near collapse of the U.S. financial system in 2008-2009, political paralysis that has blocked effective policymaking, and emerging competitors such as the Chinese renminbi have heightened speculation about the dollar's looming displacement as the main reserve currency. Yet, as The Dollar Trap powerfully argues, the financial crisis, a dysfunctional international monetary system, and U.S. policies have paradoxically strengthened the dollar's importance.Eswar Prasad examines how the dollar came to have a central role in the world economy and demonstrates that it will remain the cornerstone of global finance for the foreseeable future. Marshaling a range of arguments and data, and drawing on the latest research, Prasad shows why it will be difficult to dislodge the dollar-centric system. With vast amounts of foreign financial capital locked up in dollar assets, including U.S. government securities, other countries now have a strong incentive to prevent a dollar crash.Prasad takes the reader through key contemporary issues in international finance-including the growing economic influence of emerging markets, the currency wars, the complexities of the China-U.S. relationship, and the role of institutions like the International Monetary Fund-and offers new ideas for fixing the flawed monetary system. Readers are also given a rare look into some of the intrigue and backdoor scheming in the corridors of international finance.The Dollar Trap offers a panoramic analysis of the fragile state of global finance and makes a compelling case that, despite all its flaws, the dollar will remain the ultimate safe-haven currency.

Produkt-Details

• Erscheint lt. Verlag: 25.8.2015
• Vorwort: Eswar S. Prasad
• Zusatzinfo: 8 halftones. 17 line illus. 6 tables.
• Verlagsort: Princeton
• Sprache: englisch
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik
• Schlagworte: asset • balance of trade • balance sheet • Bank • Bank for International Settlements • Ben Bernanke • Bond (finance) • Bond Market • Capital control • Central Bank • Collateralized Debt Obligation • corporation • Currency • Currency intervention • Currency swap • currency war • Current Account • debt • Depreciation • developed country • Economic Growth • Economic Policy • Economic Power • Economics • economist • economy • Economy of the United States • Emerging Markets • Equity Market • European Debt Crisis • Eurozone • Exchange Rate • Exorbitant Privilege • Export • Fiat Money • Finance • Financial Account • Financial asset • Financial Crisis • Financial crisis of 2007–08 • Financial institution • financial integration • Financial Services • Financial transaction • Fiscal Policy • Foreign Direct Investment • Foreign Exchange Market • foreign exchange reserves • Foreign Exchange Risk • Funding • Global Finance (magazine) • Global financial system • Gold reserve • Government bond • Government budget balance • Government Debt • hard currency • Inflation • Institution • institutional investor • insurance • Interest Rate • International finance • International Financial Statistics • International Monetary Fund • International monetary systems • Investment • Investor • Japanese yen • Liability (financial accounting) • Liberalization • Macroeconomics • Market Development • Market Economy • market liquidity • monetary policy • National debt of the United States • Policy • Pound Sterling • Public Finance • Quantitative Easing • Raghuram Rajan • Recession • Renminbi • Reserve Assets • reserve currency • Safe Asset • saving • Security (finance) • Sovereign Wealth Fund • Speculation • State Administration of Foreign Exchange • Supply (economics) • Tax • Unemployment • United States Dollar • United States Treasury security • Value (economics) • world currency • World Economy
• ISBN-10: 1-4008-7364-9 / 1400873649
• ISBN-13: 978-1-4008-7364-7 / 9781400873647