| Description |
1 online resource (85 pages) : illustrations. |
| Series |
Cambridge elements. Elements in the economics of emerging markets, 2631-8598 |
|
Cambridge elements. Elements in the economics of emerging markets.
2631-8598
|
| Note |
Open Access. |
| Bibliography |
Includes bibliographical references (pages 68-85). |
| Contents |
A coalitional de-dollarization challenge? -- BRICS as a de-dollarization coalition -- "Go-it-alone" strategy : establishing new institutions and market mechanisms -- "Reform-the-status-quo" strategy : remaking existing institutions and markets -- Conclusion and implications for future research. |
| Summary |
Existing scholarship has not systematically examined BRICS (Brazil-Russia-India-China-South Africa) as a rising power de-dollarization coalition, despite the group developing multiple de-dollarization initiatives to reduce currency risk and bypass US sanctions. To fill this gap, this study develops a 'Pathways to De-dollarization' framework and applies it to analyze the institutional and market mechanisms that BRICS countries have created at the BRICS, sub-BRICS, and BRICS Plus levels. This framework identifies the leaders and followers of the BRICS de-dollarization coalition, assesses its robustness, and discerns how BRICS mobilizes other stakeholders. The authors employ process tracing, content analysis, semi-structured interviews, archival research, and statistical analysis of quantitative market data to analyze BRICS activities during 2009-2021. They find that BRICS' coalitional de-dollarization initiatives have established critical infrastructure for a prospective alternative nondollar global financial system. This title is also available as Open Access on Cambridge Core. |
| Note |
Vendor-supplied metadata. |
| Local Note |
Cambridge University Press Cambridge Open Access Books and Elements |
| Subject |
BRIC countries -- Commercial policy.
|
|
BRIC countries -- Foreign economic relations.
|
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Monetary policy -- BRIC countries.
|
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International trade.
|
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Dollarization -- BRIC countries.
|
| Added Author |
Papa, Mihaela, author.
|
| ISBN |
9781009029544 (electronic book) |
|
1009029541 (electronic book) |
|
9781009014625 (paperback) |
|
