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2015, vol. 44, br. 4, str. 18-39
Karakteristike i savremeni izazovi međunarodnog monetarnog i finansijskog sistema
Univerzitet u Beogradu, Ekonomski fakultet

e-adresaradovank@ekof.bg.ac.rs
Projekat:
Uloga države u novom modelu rasta privrede Srbije (MPNTR - 179065)

Sažetak
Funkcionalan međunarodni monetarni sistem (MMS) treba da obezbedi zadovoljavajuću međunarodnu likvidnost i omogući nesmetane tokove novca i kapitala u svetskoj privredi. U uslovima krize od njega se očekuje da olakša protok kapitala radi eliminisanja neravnoteža koje vode krizi. Osnovna poluga MMS-a u posleratnom periodu bila je konvertibilnost dolara u zlato, što je omogućilo da američka valuta postane svetska rezervna valuta. Monetarna politika SAD je u ovom monetarnom sistemu preuzela ulogu kreatora međunarodne likvidnosti. Kad je 1971. godine američki predsednik Nikson ukinuo zlatno pokriće dolara, to je dovelo do raspada Bretonvudskog sistema, dolar je otpočeo slobodno plivanje, ali je do danas zadržao poziciju ključne svetske rezervne valute. Svetska finansijska kriza iz 2008. godine podsetila je na manjkavosti sadašnjeg MMS-a, jer je kolebljiva vrednost dolara nametnula rizik držanja ove valute u deviznim rezervama centralnih banaka. Obnovljeni su prigovori zemalja sa najvećim deviznim rezervama na svetu o 'neodmerenoj privilegiji' SAD u MMS-u, kako je to svojevremeno nazvao Šarl de Gol. Impulsi monetarne politike zemalja čije valute spadaju u klub vodećih svetskih valuta (pre svega SAD, evrozone i Japana) prenose se van granica ovih zemalja i utiču na ostale zemlje u globalizovanoj svetskoj privredi. Ovaj rad ima za dlj da ukaže na posledice sadašnje strukture MMS-a, koju karakteriše dominantna uloga dolara i evra u međunarodnim trgovinskim i finansijskim tokovima. Ispituju se kanali kroz koje se režimi monetarne politike SAD i evrozone prelivaju na međunarodno okruženje i posledice za ostale zemlje.
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O članku

jezik rada: srpski, engleski
vrsta rada: izvorni naučni članak
DOI: 10.5937/bankarstvo1504018K
objavljen u SCIndeksu: 11.02.2016.

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