Eswar S. Prasad Books
Eswar S. Prasad is the Tolani Senior Professor of Trade Policy at Cornell University and a senior fellow at the Brookings Institution.
Known for: The Dollar Trap: How the U.S. Dollar Tightened Its Grip on Global Finance
Books by Eswar S. Prasad
The Dollar Trap: How the U.S. Dollar Tightened Its Grip on Global Finance
In this book, economist Eswar S. Prasad examines how the U.S. dollar, despite financial crises and global imbalances, has maintained its dominance in the international monetary system. He explores the paradox of the dollar’s enduring strength, the structural factors that sustain it, and the implications for global economic stability and U.S. policy. Drawing on extensive data and analysis, Prasad explains why the dollar remains the world’s reserve currency and what this means for the future of global finance.
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Historical Background: How the Dollar Became the World’s Reserve Currency
The story begins with the transformation of international finance after World War II. When the Bretton Woods system was born in 1944, the dollar stood at the center of a new vision for stability. It was backed by U.S. economic scale, political strength, and the credibility of its institutions. Count...
From The Dollar Trap: How the U.S. Dollar Tightened Its Grip on Global Finance
The Global Financial Crisis of 2008: The Reinforcement of the Safe-Haven Role
The 2008 financial crisis should, in theory, have shaken faith in the dollar. After all, the crisis began on Wall Street and stemmed from American over-leverage and institutional failure. Yet as global panic spread, investors fled not from the dollar, but toward it. The irony was striking: the same ...
From The Dollar Trap: How the U.S. Dollar Tightened Its Grip on Global Finance
About Eswar S. Prasad
Eswar S. Prasad is the Tolani Senior Professor of Trade Policy at Cornell University and a senior fellow at the Brookings Institution. He previously served as head of the IMF’s China Division and has written extensively on international finance, monetary policy, and globalization.
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Eswar S. Prasad is the Tolani Senior Professor of Trade Policy at Cornell University and a senior fellow at the Brookings Institution.
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