To Establish a Supra-sovereign International Currency: The Reform of International Monetary System

This book aims to reform the existing international monetary system by establishing a new international currency standard, a super-sovereign currency, to promote global economic development. The current international monetary system, the Jamaica System, with the US dollar as the main international currency, is vulnerable to money standard, exchange rate instability, and currency crises. The book proposes a new scheme for the establishment of supra-sovereign international currency, which is a significant departure from past and current reform programs.

Format: Paperback / softback
Length: 246 pages
Publication date: 06 January 2023
Publisher: Springer Verlag, Singapore

The research purpose of this book is to advance the reform of the existing international monetary system through the establishment of a new international currency standard, which is a super-sovereign currency.

The International Monetary System (IMS) plays a crucial role in governing international economic activities, impacting both the global and domestic economies of various countries. Since the disintegration of the International Gold Standard in 1971, studies on reforming the international monetary system have remained a significant focus in international economic research fields. The improvement of the international monetary system to facilitate worldwide economic developments has been a shared interest among all.

Since the collapse of the Bretton Woods System, the current international monetary system known as the Jamaica System has emerged. Under this system, the United States dollar serves as the primary international currency. However, this has led to vulnerabilities in the money standard, instability in the exchange rate system, and frequent currency crises. The need for international monetary system reforms has grown in response to these circumstances. Various programs, such as the improved international gold standard system, the expansion of Special Drawing Rights, and the establishment of a single world currency, have been proposed.

This book makes significant practical contributions as well. The major contribution of this book is the proposal of a new scheme for establishing a supra-sovereign international currency. This is an entirely novel reform program that differs significantly from any past or current reform programs in international economic research.

In conclusion, this book aims to advance the reform of the existing international monetary system by introducing a new super-sovereign currency standard. It provides valuable theoretical contributions and practical insights into the challenges and opportunities of international monetary system reform. The proposal of a supra-sovereign international currency is a groundbreaking initiative that has the potential to transform the global economic landscape.

Weight: 403g
Dimension: 235 x 155 (mm)
ISBN-13: 9789811643392
Edition number: 1st ed. 2022