Ghent University Academic Bibliography

Advanced

The global imbalances and the contradictions of US monetary hegemony

Mattias Vermeiren UGent (2010) JOURNAL OF INTERNATIONAL RELATIONS AND DEVELOPMENT. 13(2). p.105-135
abstract
Over the last decade, the world economy has been characterised by escalating global current account imbalances between the United States (US) and East Asia in particular. This article argues that US monetary hegemony has been a necessary condition for the emergence of these imbalances. It is contended that the notion of structural power is indispensable to understanding the nature of US monetary hegemony and its relation to the imbalances. US monetary structural power has both induced East Asian states to increase their accumulation of dollar-denominated assets and allowed the US to decrease its savings. The article also shows that the mechanisms of US structural monetary power contain several contradictory dynamics that are able to undermine its own purpose, which is to avoid the burden of adjustment to balance-of-payments disequilibria. Journal of International Relations and Development (2010) 13, 105-135. doi:10.1057/jird.2009.36
Please use this url to cite or link to this publication:
author
organization
year
type
journalArticle (original)
publication status
published
subject
keyword
stability, US dollar, monetary power, imbalances, hegemony, CHINA, ECONOMY, LIMITS, STABILITY, STRUCTURAL POWER, DOLLAR
journal title
JOURNAL OF INTERNATIONAL RELATIONS AND DEVELOPMENT
J. Int. Relat. Dev.
volume
13
issue
2
pages
105 - 135
Web of Science type
Article
Web of Science id
000278345000001
JCR category
INTERNATIONAL RELATIONS
JCR impact factor
0.429 (2010)
JCR rank
47/73 (2010)
JCR quartile
3 (2010)
ISSN
1408-6980
DOI
10.1057/jird.2009.36
language
English
UGent publication?
yes
classification
A1
copyright statement
I have transferred the copyright for this publication to the publisher
id
816481
handle
http://hdl.handle.net/1854/LU-816481
date created
2009-12-28 16:46:59
date last changed
2011-09-02 08:54:24
@article{816481,
  abstract     = {Over the last decade, the world economy has been characterised by escalating global current account imbalances between the United States (US) and East Asia in particular. This article argues that US monetary hegemony has been a necessary condition for the emergence of these imbalances. It is contended that the notion of structural power is indispensable to understanding the nature of US monetary hegemony and its relation to the imbalances. US monetary structural power has both induced East Asian states to increase their accumulation of dollar-denominated assets and allowed the US to decrease its savings. The article also shows that the mechanisms of US structural monetary power contain several contradictory dynamics that are able to undermine its own purpose, which is to avoid the burden of adjustment to balance-of-payments disequilibria. Journal of International Relations and Development (2010) 13, 105-135. doi:10.1057/jird.2009.36},
  author       = {Vermeiren, Mattias},
  issn         = {1408-6980},
  journal      = {JOURNAL OF INTERNATIONAL RELATIONS AND DEVELOPMENT},
  keyword      = {stability,US dollar,monetary power,imbalances,hegemony,CHINA,ECONOMY,LIMITS,STABILITY,STRUCTURAL POWER,DOLLAR},
  language     = {eng},
  number       = {2},
  pages        = {105--135},
  title        = {The global imbalances and the contradictions of US monetary hegemony},
  url          = {http://dx.doi.org/10.1057/jird.2009.36},
  volume       = {13},
  year         = {2010},
}

Chicago
Vermeiren, Mattias. 2010. “The Global Imbalances and the Contradictions of US Monetary Hegemony.” Journal of International Relations and Development 13 (2): 105–135.
APA
Vermeiren, M. (2010). The global imbalances and the contradictions of US monetary hegemony. JOURNAL OF INTERNATIONAL RELATIONS AND DEVELOPMENT, 13(2), 105–135.
Vancouver
1.
Vermeiren M. The global imbalances and the contradictions of US monetary hegemony. JOURNAL OF INTERNATIONAL RELATIONS AND DEVELOPMENT. 2010;13(2):105–35.
MLA
Vermeiren, Mattias. “The Global Imbalances and the Contradictions of US Monetary Hegemony.” JOURNAL OF INTERNATIONAL RELATIONS AND DEVELOPMENT 13.2 (2010): 105–135. Print.