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Study on the Erosion and Change of the Dollar's Position as an International Key Currency

美元国际关键货币地位的侵蚀与变化研究

基本信息

批准号：
63301085
负责人：
FUKAMACHI Ikuya
金额：
$ 10.18万
依托单位：
Kyushu University
依托单位国家：
日本
项目类别：
Grant-in-Aid for Co-operative Research (A)
财政年份：
1988
资助国家：
日本
起止时间：
1988 至 1990
项目状态：
已结题

项目摘要

The purpose of this study is to examine of the erosion of the Dollar's position as an International Key Currency at several levels-invoicing currency, vehicle currency (private currency). Intervention currency, reserve currency (official currency)-, and to get perspectives of the international financial system in the future.Through analyzing the sources and debating, we got the conclusion that the Dollar's position as an international key currency at vehicle currency is eroding.The key function of the Dollar's position as an international key currency was vehicle currency. Recentry, however, this situation is changing. Today, there are the decentralization and consolidation of international financial markets.On the one hand, there may happen the currency blocks, such as Dollar block, Mark block, Yen block in Asia. Such a trend of international currency is indicated by the growth of the foreign exchange markets of London, New York, and Tokyo. That is decentralization of the international financial markets. On the other hand, international financial markets are integrated. The globalization of finance under the floating system facilitates the growth of the foreign exchange markets and international money flow.The diversification of international currencies is going on under this floating system. The decline of Dollar, however, does not mean the erosion of Dollar. This is the instability of today's international financial system.

本研究的目的是在几个层面上检查美元作为国际主要货币的地位的侵蚀-计价货币，车辆货币（私人货币）。通过对来源的分析和争论，得出了美元作为国际关键货币的地位正在被削弱的结论，美元作为国际关键货币的核心作用是作为国际货币的载体货币。然而，这种情况正在发生变化。在国际金融市场分散化和一体化的今天，一方面，亚洲可能出现美元区、马克区、日元区等货币区;国际货币的这种趋势可以从伦敦、纽约和东京外汇市场的发展中看出来。这就是国际金融市场的分散化。另一方面，国际金融市场是一体化的。浮动汇率制下的金融全球化促进了外汇市场的发展和国际货币的流动，国际货币的多样化也在浮动汇率制下进行。然而，美元的下跌并不意味着美元的侵蚀。这就是当今国际金融体系的不稳定性。