Munich Personal RePEc Archive

Internationale Währungsmarktstabilität durch eine Globalwährung?

Menkhoff, Lukas (2009): Internationale Währungsmarktstabilität durch eine Globalwährung?

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Abstract

In our current time the idea of a global currency seems to be pathbreaking. However, the introduction of such a currency requires a uniform governance which implicates that countries lose national autonomy. Presently, countries prefer national monetary policy and national financial regulation. Moreover, it is not obvious that integration of the world economy is already advanced enough to justify a global currency (if one takes criteria applied to regional currencies as a benchmark). With increasing economic integration and succesful international coooperation, howver, this scenario may change in the future.

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