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- Title
MONETARINĖ SISTEMA: TRŪKUMAI IR REFORMOS.
- Authors
Radzevičiūtė, Jolita
- Abstract
The absence of an appropriate system of governance in international monetary and financial relations is the main reason for the increasing prevalence of current-account imbalances in the global economy. The article addresses the issue of the current international reserve system, which has received greater attention in the context of the crisis. The role of the dollar as the main reserve currency has been called into question, partly because it is believed to require a currentaccount deficit in the United States. Reflections about an alternative reserve system are often linked to the question of how to provide more adequate international liquidity to developing and emerging-market economies. The question of the reserve currency involving Special Drawing Rights (SDR), as the main form of international liquidity, has been presented. For solving the problem of instability in international financial relations, is the need for appropriate reform of the multilateral system of exchange-rate determination. IMF is effectively in charge of designing a new architecture of the global financial system. Dismemberment of big banks is reinforce competition in the banking sector, thus prevails less the too-big-too-fail type problems. The article is prepared with focus on sistematic analysis of scientific researches and public papers.
- Subjects
UNITED States; MONETARY policy; INTERNATIONAL competition; SPECIAL drawing rights; EMERGING markets; DISMEMBERMENT of nations; BANKING industry; INTERNATIONAL Monetary Fund
- Publication
Management Theory & Studies for Rural Business & Infrastructure Development, 2010, Vol 22, Issue 3, p131
- ISSN
1822-6760
- Publication type
Article