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Full-Text Articles in International Economics
Toward A More Universal Currency: The Impact Of The Clearing Mechanism On Developing Economies, Evan Ross Kaderbeck
Toward A More Universal Currency: The Impact Of The Clearing Mechanism On Developing Economies, Evan Ross Kaderbeck
Applied Economics Theses
Toward a More Universal Currency:
The Impact of the Clearing Mechanism on Developing Economies
As part of a broader plan to reform the system of international finance, experts have indicated the need to modify the system of international money. They point to problems such as the difficulties faced by developing countries in obtaining hard currency needed for imports, or the flows of hot money which make the financing of long-term development projects difficult. Some have called for a form of universal currency, used only in international trade. Developing nations especially need access to a clearing mechanism which would eliminate the …