Can BRICS de-dollarize the global financial system? /

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Bibliographic Details
Author / Creator:Liu, Zongyuan Zoe, author.
Imprint:Cambridge : Cambridge University Press, 2022.
Description:1 online resource (85 pages) : illustrations
Language:English
Series:Cambridge elements. Elements in the economics of emerging markets, 2631-8598
Cambridge elements. Elements in the economics of emerging markets,
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/13480000
Hidden Bibliographic Details
Other authors / contributors:Papa, Mihaela, author.
ISBN:9781009029544
1009029541
9781009014625 (paperback)
Notes:Open Access.
Includes bibliographical references (pages 68-85).
Vendor-supplied metadata.
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.

MARC

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490 1 |a Cambridge elements. Elements in the economics of emerging markets,  |x 2631-8598 
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505 0 |a 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. 
520 |a 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. 
588 0 |a Vendor-supplied metadata. 
651 0 |a BRIC countries  |x Commercial policy. 
651 0 |a BRIC countries  |x Foreign economic relations. 
650 0 |a Monetary policy  |z BRIC countries. 
650 0 |a International trade.  |0 http://id.loc.gov/authorities/subjects/sh87004890 
650 0 |a Dollarization  |z BRIC countries. 
651 6 |a Pays du BRICS  |x Politique commerciale. 
651 6 |a Pays du BRICS  |x Relations économiques extérieures. 
650 6 |a Commerce international. 
650 7 |a Commercial policy.  |2 fast  |0 (OCoLC)fst00869569 
650 7 |a Dollarization.  |2 fast  |0 (OCoLC)fst01744651 
650 7 |a International economic relations.  |2 fast  |0 (OCoLC)fst00976891 
650 7 |a International trade.  |2 fast  |0 (OCoLC)fst00977128 
650 7 |a Monetary policy.  |2 fast  |0 (OCoLC)fst01025230 
651 7 |a BRIC countries.  |2 fast  |0 (OCoLC)fst01896747 
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700 1 |a Papa, Mihaela,  |e author.  |0 http://id.loc.gov/authorities/names/no2022027613 
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