Dollar Dominance: Fundamentals, Nature, and Present Structure

This book critically analyzes the US dollar’s dominance as an international currency through an analysis of US dollar gross balance sheets in the shadow banking system at global, systematically important banks.

It begins by drawing upon Minsky and Kindleberger’s financial fragility hypothesis, explaining how analysis of dynamics in balance sheet expansion helps to reveal the fundamentals of the dollar standard system. It then examines the dollar standard system in the 2000s and during the Gl...