Can BRICS de-dollarize the global financial system? /
Liu, Zongyuan Zoe
Can BRICS de-dollarize the global financial system? / Zongyuan Zoe Liu, Mihaela Papa - Cambridge : Cambridge University Press, 2022 - online resource
A Coalitional De-dollarization Challenge? -- BRICS as a De-dollarization Coalition -- “Go-It-Alone” Strategy: Establishing New Institutions and Market Mechanisms -- “Reform-the-Status-Quo” Strategy: Remaking Existing Institutions and Markets -- Conclusion and Implications for Future Research
Available to OhioLINK libraries
Existing scholarship has not systematically examined BRICS (Brazil-Russia-India-China-South Africa) as a rising power de-dollarization coalition, despite the group developing multiple de-dollarization initiatives to reduce currency risk and bypass US sanctions. To fill this gap, this study develops a 'Pathways to De-dollarization' framework and applies it to analyze the institutional and market mechanisms that BRICS countries have created at the BRICS, sub-BRICS, and BRICS Plus levels. This framework identifies the leaders and followers of the BRICS de-dollarization coalition, assesses its robustness, and discerns how BRICS mobilizes other stakeholders. The authors employ process tracing, content analysis, semi-structured interviews, archival research, and statistical analysis of quantitative market data to analyze BRICS activities during 2009-2021. They find that BRICS' coalitional de-dollarization initiatives have established critical infrastructure for a prospective alternative nondollar global financial system. This title is also available as Open Access on Cambridge Core
9781009029544
INTERNATIONAL TRADE
BRIC COUNTRIES--COMMERCIAL POLICY
BRIC COUNTRIES--FOREIGN ECONOMIC RELATIONS
HF 4055 / L58C 2022
Can BRICS de-dollarize the global financial system? / Zongyuan Zoe Liu, Mihaela Papa - Cambridge : Cambridge University Press, 2022 - online resource
A Coalitional De-dollarization Challenge? -- BRICS as a De-dollarization Coalition -- “Go-It-Alone” Strategy: Establishing New Institutions and Market Mechanisms -- “Reform-the-Status-Quo” Strategy: Remaking Existing Institutions and Markets -- Conclusion and Implications for Future Research
Available to OhioLINK libraries
Existing scholarship has not systematically examined BRICS (Brazil-Russia-India-China-South Africa) as a rising power de-dollarization coalition, despite the group developing multiple de-dollarization initiatives to reduce currency risk and bypass US sanctions. To fill this gap, this study develops a 'Pathways to De-dollarization' framework and applies it to analyze the institutional and market mechanisms that BRICS countries have created at the BRICS, sub-BRICS, and BRICS Plus levels. This framework identifies the leaders and followers of the BRICS de-dollarization coalition, assesses its robustness, and discerns how BRICS mobilizes other stakeholders. The authors employ process tracing, content analysis, semi-structured interviews, archival research, and statistical analysis of quantitative market data to analyze BRICS activities during 2009-2021. They find that BRICS' coalitional de-dollarization initiatives have established critical infrastructure for a prospective alternative nondollar global financial system. This title is also available as Open Access on Cambridge Core
9781009029544
INTERNATIONAL TRADE
BRIC COUNTRIES--COMMERCIAL POLICY
BRIC COUNTRIES--FOREIGN ECONOMIC RELATIONS
HF 4055 / L58C 2022