Can Brics De-Dollarize the Global Financial System? (Paperback) (ISBN-13: 9781009014625)

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.

Author: Zongyuan Zoe Liu, Mihaela Papa
ISBN-10: 1009014625
ISBN-13: 9781009014625
Publisher: Cambridge University Press
Language: English
Published: 03/24/2022
Pages: 75
Format: Paperback
Weight: 0.30lbs
Size: 9.00h x 6.00w x 0.19d