Sajnoski, Krste and Madzova, Violeta (2013) Globalization and global currency. In: Contemporary Issues in Economics, Business and Management - EBM 2012, Kraguevac, Serbia.
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Abstract
The last financial and economic world crisis and the breakdown, not to say, regression in the
development of the processes of globalization, definitely, impose the question of creating the global currency as
a priority. It is evidently that the disadvantageous flows in separately developed national economies and
international economic relations are a consequence of the absence of world currency i.e. of the functioning of
dollar and other national currencies as world money. The bids for “rescuing in the way one can do that” do not
give satisfactory results. The achievement of individual efforts is low. The necessary, organized, coordinated and
synchronized resolving of global problems asks for establishing the global currency as an objective economic
criterion of rational and international division of the labour and for further integration of the national
economies into the world economy. The creation of global currency is a prerequisite for the development of
more balanced international economic relations and for the improvement of the processes of globalization, on
an imperishable basis, in the interest of the development of all countries and of global economy. The existing
inconsistent international monetary system (IMS), which is based on the national currencies as world money,
has already created global imbalances that cannot be overcome by extending the role of national currencies in
the function of world money. The failure of creating global currency will enlarge the danger of protectionism in
all countries.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | Social Sciences > Economics and business |
| Divisions: | Faculty of Economics |
| Depositing User: | Violeta Madzova |
| Date Deposited: | 06 Sep 2013 07:57 |
| Last Modified: | 06 Sep 2013 07:57 |
| URI: | https://eprints.ugd.edu.mk/id/eprint/7192 |
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