Abstract
The paper focuses on the changes in the economic, institutional, and organizational conditions for the world currency internationalization. The changes revealed are compared to the dynamics of the global demand for the US dollar, the euro, the pound sterling, the Japanese yen, and the Chinese yuan as a unit of account, medium of exchange and store of value, both in public and private sectors. The analysis concludes that there is no expected response of the world market participants to the choice of the world currency that corresponds to the conditions created in the issuer countries/group of countries. It is shown that increased use of the euro and the Chinese yuan as the world currencies is possible only after the issuers expand their contribution to the creation of the world product, provide full convertibility of the Chinese currency, and develop their internal financial markets.
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Kudryashova, I.V. (2020). World Currencies: Analysis of the Conditions for Global Demand Generation and Internationalization Level. In: Popkova, E., Sergi, B. (eds) Digital Economy: Complexity and Variety vs. Rationality. ISC 2019. Lecture Notes in Networks and Systems, vol 87. Springer, Cham. https://doi.org/10.1007/978-3-030-29586-8_10
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DOI: https://doi.org/10.1007/978-3-030-29586-8_10
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