US and G7 financial sanctions on Russia have raised concerns about weaponization of the dollar - that is, increased use by the United States of the international financial leverage afforded by the greenback's "exorbitant privilege." The question is whether other countries, contemplating even the remote possibility that they may find themselves on the outs with the United States, will look to alternatives. Professor Eichengreen will ask whether the history of sanctions points to such a response. He will assess the available alternatives and evaluate the implications for 21st century globalization.
Barry Eichengreen is George C. Pardee and Helen N. Pardee Chair and Distinguished Professor of Economics and Professor of Political Science at the University of California, Berkeley. He is a Research Associate of the National Bureau of Economic Research and Research Fellow of the Centre for Economic Policy Research. In 1997-98 he was Senior Policy Advisor at the International Monetary Fund.
Professor Eichengreen is a fellow of the American Academy of Arts and Sciences (class of 1997). He is a distinguished fellow of the American Economic Association (class of 2022), a corresponding fellow of the British Academy (class of 2022), and a Life Fellow of the Cliometric Society (class of 2013). He has held Guggenheim and Fulbright Fellowships and been a fellow of the Center for Advanced Study in the Behavioral Sciences (Palo Alto) and the Institute for Advanced Study (Berlin). For 15 years from 2004 he served as convener of the Bellagio Group of academics and officials. He is a regular monthly columnist for Project Syndicate.
Professor Eichengreen has been awarded the Economic History Association's Jonathan R.T. Hughes Prize for Excellence in Teaching and the University of California at Berkeley Social Science Division's Distinguished Teaching Award. He is the recipient of a doctor honoris causa from the American University in Paris, and was the 2010 recipient of the Schumpeter Prize from the International Schumpeter Society and the 2022 recipient of the Nessim Habif Prize for Contributions to Science and Industry. He was named one of Foreign Policy Magazine's 100 Leading Global Thinkers in 2011. He is a past president of the Economic History Association (2010-11).
His most recent book is In Defense of Public Debt with Asmaa El-Ganainy, Rui Esteves and Kris Mitchener (Oxford University Press 2021)
Thursday, 02 February 2023
16:00 - 16:45 GMT
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