The political economy of key currencies : implications of the Yen's rising importance as a world currency
The international monetary system is not a traditional area of study in international relations and is often discussed using a 'scientific-economic' approach, which assumes that the system is politically neutral. Instead this paper takes a 'pol' tical economic' approach (Johnson, 1971) and argues that the acceptance of a national currency as the dominant medium of exchange for international trade and finance creates a web of economic and political interdependence between the state which...[Show more]
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