Role eura v medzinárodnom menovom systéme

Abstract

The thesis analyzes role of the euro in the international moneraty system (IMS). The thesis is divided into three thematic parts. The first, theoretic part, defines basic facts about IMS, about its history and about exchange rates – the most important principles of operation IMS. The second part of this thesis defines basic principles of the theory of world currency in the first chapter of this part. Subsequently, the second chapter of this part contains an analysis of the euro to american dollar and japanese yen. The results of this sub-tests verity that the euro is a world currency. The third, empirical part of this thesis analyzes impacts of the financial crisis of 2008 to the position of the euro in IMS. The analysis is performed on annnual data in the period 1999 (2000) – 2010. The results of these empirical tests verity that the financial crisis has weakened the position of the euro in IMS. End of this part contains some empirical studies of famous economists like my feedback on this issues.