World financial system in the conditions of crisis and prospects of creation the new reserve currencies Cover Image

Мировая валютно-финансовая система в условиях кризиса и перспективы создания новых резервных валют
World financial system in the conditions of crisis and prospects of creation the new reserve currencies

Author(s): Mariya Pavlova
Subject(s): Economy
Published by: Prague Development Center
Keywords: World currency system; financial crisis; reserve currency; regional currency; inflation; new currency creation

Summary/Abstract: Credit crunch started with US subprime mortgage crisis spread to other parts of the world. Countries across the world call for reforms in international financial system. The author considers that financial crises catalyzes international tendencies to create regional currencies. Also, paper concludes that for Russian Ruble to become a regional currency much efforts need to be done in terms of increasing country’s attractiveness for foreign investors.

  • Issue Year: 2/2009
  • Issue No: 2
  • Page Range: 67-69
  • Page Count: 3
  • Language: Russian