000			02996nam a22003497a 4500
003			JGU
005			20230523105005.0
008			230119s2023 nyu b 001 0 eng
010			_a 2022060608
020			_aB0BTQ1Z8TZ _qkindle book
040			_aDLC _beng _erda _cDLC _dDLC
041			_aeng
042			_apcc
043			_an-us---
100	1		_aMcDowell, Daniel, _eauthor. _91640517
245	1	0	_aBucking the buck : _bUS financial sanctions and the international backlash against the dollar / _cDaniel McDowell.
263			_a2303
504			_aIncludes bibliographical references and index.
505	0		_aFinancial sanctions and political risk in the international currency system -- The source and exercise of American financial power -- Sanctions, political risk, and the reserve currency role -- The anti-dollar gold rush : central bank reserves in the age of financial sanctions -- Sanctions, political risk, and the dollar as international payments currency -- Payment politics : anti-dollar responses to sanctions in trade settlement -- Financial sanctions and the dollar's rivals -- Sanctions and China's play for payments power.
520			_a"The book's central claim is that US financial sanctions generate political risk in the international currency system. Political risk is defined here as the potential for a political act to raise the expected costs of using a currency for cross-border transactions or as a store of value. Over time, the accumulation of political risk in the system creates incentives for governments to adopt anti-dollar policies to promote the use of currencies or assets other than the dollar for investment and cross-border transactions. Of course, anti-dollar policies may fail. Thus, on their own they do not imply that the dollar is playing a diminishing role in a country's international economic relations. They merely indicate that the government is attempting to bring about such a shift. When sanctions-induced anti-dollar policies do successfully reduce reliance on the dollar, it signifies de-dollarization-the intentional reduction of the dollar's role in a nation's cross-border economic activities. The book explores this argument with a series of empirical chapters that examine the first two decades of the twenty-first century, a period in which the United States steadily increased its use of financial sanctions against foreign adversaries and pariah states"--
650		0	_aEconomic sanctions, American. _973306
650		0	_aDollar, American. _9156176
650		0	_aMonetary policy. _933892
650		0	_aInternational finance.
651		0	_aUnited States _xForeign economic relations.
776	0	8	_iOnline version: _aMcDowell, Daniel. _tBucking the buck _dNew York, NY : Oxford University Press, [2023] _z9780197679890 _w(DLC) 2022060609
906			_a7 _bcbc _corignew _d1 _eecip _f20 _gy-gencatlg
999			_c3054549 _d3054549