Can BRICS de-dollarize the global financial system? / / Zongyuan Zoe Liu, Mihaela Papa.
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...
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Superior document: | Cambridge elements. Elements in the economics of emerging markets, |
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Place / Publishing House: | Cambridge : : Cambridge University Press,, 2022. |
Year of Publication: | 2022 |
Language: | English |
Series: | Cambridge elements. Elements in the economics of emerging markets,
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Physical Description: | 1 online resource (85 pages) :; digital, PDF file(s). |
Notes: | Title from publisher's bibliographic system (viewed on 25 Feb 2022). |
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Summary: | 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. |
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ISBN: | 1009034111 1009034316 1009029541 |
ISSN: | 2631-8598 |
Access: | Open Access. |
Hierarchical level: | Monograph |
Statement of Responsibility: | Zongyuan Zoe Liu, Mihaela Papa. |