THE FINANCIAL CRISIS AND THE DOLLAR HEGEMONY

Marcelo Milan

Abstract


This paper discusses the US dollar hegemony in the world economy. The discussion is carried out in three steps. First, the paper analyses the evolution of the US dollar in the world economy, emphasizing its resilience in the context of frequent financial crises. Second, the work discusses and compares the perspectives that trust the US dollar’s continuing role as an international reserve to those that assume a likely decline of both the dollar and the US economy after the 2007 financial crash. Finally, the article seeks to raise a few potential consequences of the continuing hegemony or declining of the dollar for the peripheral countries.


Keywords


US dollar; Hegemony; Crisis; Periphery;



DOI: https://doi.org/10.22456/2238-6912.27996

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AUSTRAL: Brazilian Journal of Strategy & International Relations  e-ISSN 2238-6912; ISSN 2238-6262  Published by the Brazilian Center for Strategy & International Relations.
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