
<ns0:uwmetadata xmlns:ns0="http://phaidra.univie.ac.at/XML/metadata/V1.0" xmlns:ns1="http://phaidra.univie.ac.at/XML/metadata/lom/V1.0" xmlns:ns10="http://phaidra.univie.ac.at/XML/metadata/provenience/V1.0" xmlns:ns11="http://phaidra.univie.ac.at/XML/metadata/provenience/V1.0/entity" xmlns:ns12="http://phaidra.univie.ac.at/XML/metadata/digitalbook/V1.0" xmlns:ns13="http://phaidra.univie.ac.at/XML/metadata/etheses/V1.0" xmlns:ns2="http://phaidra.univie.ac.at/XML/metadata/extended/V1.0" xmlns:ns3="http://phaidra.univie.ac.at/XML/metadata/lom/V1.0/entity" xmlns:ns4="http://phaidra.univie.ac.at/XML/metadata/lom/V1.0/requirement" xmlns:ns5="http://phaidra.univie.ac.at/XML/metadata/lom/V1.0/educational" xmlns:ns6="http://phaidra.univie.ac.at/XML/metadata/lom/V1.0/annotation" xmlns:ns7="http://phaidra.univie.ac.at/XML/metadata/lom/V1.0/classification" xmlns:ns8="http://phaidra.univie.ac.at/XML/metadata/lom/V1.0/organization" xmlns:ns9="http://phaidra.univie.ac.at/XML/metadata/histkult/V1.0">
  <ns1:general>
    <ns1:identifier>o:35715</ns1:identifier>
    <ns1:title language="en">International Liquidity and the Rapid Digitalization of the World Economy</ns1:title>
    <ns1:language>en</ns1:language>
    <ns1:description language="en">Abstract
The global financial crisis of 2007-2009 as well as the COVID-19 pandemic have significantly impacted the
growth of international liquidity in response to the slowdown in the growth of the global economy and the
challenges of illiquidity. The current global progress of digitalisation in international business opens room for a
further increase in international liquidity. This paper aims to analyse the trends of international liquidity in the
context of increasing digitalisation. The paper analyses the phases of international liquidity since 2000, focusing
on the currency structure using the global liquidity indicators of the Bank for International Settlements. Based on
the results of our research, we have emphasised the declining role of the US dollar in international liquidity. In
addition, the results of the study show that the swap lines between the US Federal Reserve and foreign central
banks, which ensure the dollar&apos;s liquidity, are an important source of international liquidity. Advancing
digitalisation is accelerating capital flows and creating opportunities to reduce the cost of cross-border transfers.
In addition, most major central banks are considering the introduction of digital central bank money, electronic
money and crypto-assets, such as global stablecoins. The rapid emergence of digital money may have a significant
impact on international liquidity.</ns1:description>
    <ns1:keyword language="en">Keywords: Global liquidity, dollar, euro, Japanese yen, digital currency</ns1:keyword>
    <ns2:identifiers>
      <ns2:resource>1552100</ns2:resource>
      <ns2:identifier> 978-625-94286-5-9</ns2:identifier>
    </ns2:identifiers>
  </ns1:general>
  <ns1:lifecycle>
    <ns1:upload_date>2025-01-21T12:01:22.106Z</ns1:upload_date>
    <ns1:status>44</ns1:status>
    <ns2:peer_reviewed>no</ns2:peer_reviewed>
    <ns1:contribute seq="0">
      <ns1:role>46</ns1:role>
      <ns1:entity seq="0">
        <ns3:firstname>Radovan</ns3:firstname>
        <ns3:lastname>Kovačević</ns3:lastname>
        <ns3:institution>Univerzitet u Beogradu Ekonomski fakultet</ns3:institution>
        <ns3:orcid>0000-0002-5857-730X</ns3:orcid>
      </ns1:entity>
    </ns1:contribute>
  </ns1:lifecycle>
  <ns1:technical>
    <ns1:format>application/pdf</ns1:format>
    <ns1:size>610899</ns1:size>
    <ns1:location>https://phaidrabg.bg.ac.rs/o:35715</ns1:location>
  </ns1:technical>
  <ns1:rights>
    <ns1:cost>no</ns1:cost>
    <ns1:copyright>yes</ns1:copyright>
    <ns1:license>1</ns1:license>
  </ns1:rights>
  <ns1:classification>
    <ns1:purpose>70</ns1:purpose>
  </ns1:classification>
  <ns1:organization>
    <ns8:hoschtyp>92000004</ns8:hoschtyp>
    <ns8:orgassignment>
      <ns8:faculty>11A03</ns8:faculty>
    </ns8:orgassignment>
  </ns1:organization>
  <ns12:digitalbook>    
<ns12:name_magazine language="sr">Proceedings of 21st SCF International Conference on “Implications of ICT Development for Sustainable Development in a Global Perspective” , Antalya, October 10-13, 2024.</ns12:name_magazine>
    <ns12:from_page>78</ns12:from_page>
    <ns12:to_page>90</ns12:to_page>
    <ns12:publisher>Bandirma Onyedi University Faculty of Economics and Administrative Science</ns12:publisher>
    <ns12:publisher>Scientific Cooperation for the Future</ns12:publisher>
    <ns12:releaseyear>2024</ns12:releaseyear>
  </ns12:digitalbook>
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