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2010, vol. 38, br. 2, str. 121-153
Kraj ere američkog dolara?
Megatrend Univerzitet, Fakultet za poslovne studije, Beograd

e-adresapkapor@megatrend.edu.rs
Ključne reči: SAD; američki dolar; deficit; spoljni dug; rezervna valuta
Sažetak
Ovaj rad ima za cilj da proceni sadašnju i buduću ulogu američkog dolara u globalnoj privredi. Osnovna karakteristika međunarodnog monetarnog sistema je korišćenje nacionalne valute SAD kao glavne rezervne valute i instrumenta međunarodnih plaćanja. Kao entitet međunarodne rezervne valute, SAD su u mogućnosti da imaju stalne eksterne i fiskalne deficite i da ih finansiraju u svojoj sopstvenoj valuti. Ali postoji sukob između rastućih potreba SAD za eksternim finansiranjem da bi se pokrili deficiti tekućeg računa i budžeta i gubitaka koje oni (uglavnom svetske centralne banke) ostvaruju pozajmljujući SAD u američkim dolarima. Dalji rast eksterne zaduženosti SAD, koji prati dupli deficit, će vršiti pritisak na slabljenje dolara i rizik deviznog kursa dolara će ostati visok. To ne znači da je era američkog dolara došla do svog kraja, ali će kretanje dolara na duži rok zavisti u velikoj meri od čisto političkih odluka stranih vlada i centralnih banaka u svetu, i taj Damoklov mač će nastaviti da visi nad američkim dolarom.
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objavljen u SCIndeksu: 18.05.2010.