Exploring the dynamic nexus between cross-border dollar claims and global economic growth

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dc.contributor.authorAlexiou, Constantinos
dc.contributor.authorVogiazas, Sofoklis
dc.contributor.authorBenbow, Alex
dc.date.accessioned2024-03-19T14:10:30Z
dc.date.available2024-03-19T14:10:30Z
dc.date.issued2024-03-15
dc.description.abstractThis paper addresses the role of the U.S. dollar in fostering global economic growth during the post-war period. The existing literature lacks a comprehensive understanding of the true implications of the U.S. dollar’s status as a reserve currency and a dearth of studies examining its impact. In this study, we explore the dynamic long-run and short-run relationships between cross-border U.S. dollar claims, global GDP, and global trade while gauging the impact of the Global Financial Crisis (GFC) and the COVID-19 pandemic. In doing so, we use ARDL methodology for a data set that spans the period of 1980 to 2022. The estimation results reveal a robust long-run relationship between U.S. dollar claims, global GDP and global trade and no clear evidence of asymmetric effects. Our findings are of great significance for monetary authorities, emphasising the need for a nuanced understanding of the implications of the U.S. dollar’s conducive role in shaping global economic dynamics and fostering growth.en_UK
dc.identifier.citationAlexiou C, Vogiazas S, Benbow A. (2024) Exploring the dynamic nexus between cross-border dollar claims and global economic growth. Economies, Volume 12, Issue 3, March 2024, Article number 69en_UK
dc.identifier.eissn2227-7099
dc.identifier.urihttps://doi.org/10.3390/economies12030069
dc.identifier.urihttps://dspace.lib.cranfield.ac.uk/handle/1826/21041
dc.language.isoen_UKen_UK
dc.publisherMDPIen_UK
dc.rightsAttribution 4.0 International*
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/*
dc.subjecteurodollaren_UK
dc.subjectcross-border dollar claimsen_UK
dc.subjecteconomic growthen_UK
dc.subjectglobal tradeen_UK
dc.titleExploring the dynamic nexus between cross-border dollar claims and global economic growthen_UK
dc.typeArticleen_UK
dcterms.dateAccepted2024-03-11

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