Dylemat Triffina we współczesnym międzynarodowym systemie walutowym

• Authors: Artur Balicki

Title variants

EN

The Triffin Dilemma in the Contemporary International Monetary System

• Languages of publication: PL

Abstracts

EN

Robert Triffin at the beginning of the 1960s warned that the Bretton Woods system (BWS) was unsustainable due to the inability of the reserve currency issuer to run current account deficit and surplus at the same time. Both were necessary to provide, respectively, international liquidity and trust in the status of the reserve currency. Contradictionary character of the dilemma finally led to the collapse of the BWS. Even though the contemporary system is entirely different in nature, the dilemma still applies. Vast accumulation of dollar reserves undermines confidence in the US fiscal capacity to repay its debt. Therefore, it is crucial to promote international cooperation and evolution towards a multipolar system, or system based on one supranational currency.

Keywords

PL

Międzynarodowy system walutowy; Plan Marshalla; Teoria ekonomii

EN

Economic theory; International monetary system; Marshall Plan

• Publisher: Uniwersytet Ekonomiczny w Katowicach
• Journal: Studia Ekonomiczne
• Year: 2013
• Volume: 129
• Pages: 107-116

Contributors

author

Artur Balicki

References

• M. Murphy, W.J. Yuan: Is China Ready To Challenge The Dollar? Internalization Of The Renminbi And Its Implications For The United States. A Report of the CSIS Freeman Chair in China Studies. Center For Strategic & International Studies, October 2009, s. 3.
• B. Eichengreen: Globalizing Capital. A History Of The International Monetary System. Second Edition. Princeton University Press, Princeton i Oxford, s. 6.
• S.G. Hall, G. Hondroyiannis, P. Swamy, G.S. Tavlas: Bretton-Woods Systems, Old and New, and the Rotation of Exchange-Rates Regimes, Working Paper No. 09/15, University of Leicester, September 2009, s. 3-7.
• R. Dobbs, D. Skilling, W. Hu, S. Lund, J. Manyika, C. Roxburgh: An exorbitant privilege? Implications of reserve currencies for competitiveness. Discussion Paper. McKinsey Global Institute, December 2009, s. 14.
• L. Bini Smaghi: The Triffin dilemma revisited, www.ecb.int/press/key/date/2011/html/sp111003.en.html, dostęp: 28.05.2012.

Identifiers

ISSN

2083-8611