Jayakumar, Vivekanand; Weiss, Barbara - In: Frontiers of Economics in China 6 (2011) 1, pp. 92-130
The recent financial crisis highlighted some of the underlying defects in the dollar-based reserve system. This paper argues that the era of the US hegemonic stability and unipolarity, which provided the foundation for the dollar¡¯s sustenance as the pre-eminent global reserve currency, has...