Wzrost znaczenia złota w rezerwach dewizowych banków centralnych gospodarek wschodzących

• Autorzy: Paweł Kowalewski , Dominik A. Skopiec

Warianty tytułu

The Rise of Gold in Central Banks' Official Reserve Assets in Emerging Market Economies

• Języki publikacji: PL

Abstrakty

Celem artykułu jest przeanalizowanie czynników, które spowodowały zwiększenie popytu na złoto ze strony banków centralnych gospodarek wschodzących, a także skali wzrostu i wykorzystania złota w rezerwach dewizowych tych banków. Ponadto analizie poddano obszary i przypadki wykorzystania złota przez gospodarki wschodzące oraz przedstawiono determinanty przyszłej roli tego kruszcu. Szczególną uwagę poświęcono tym gospodarkom wschodzącym, w których przyrost rezerw złota w badanym okresie był największy. Tezą artykułu jest twierdzenie, że wzrost udziału złota w rezerwach dewizowych banków centralnych gospodarek wschodzących wynikał zarówno z dysfunkcjonalności współczesnego międzynarodowego systemu walutowego, jak i z unikalnych cech złota jako rodzaju aktywów rezerwowych, a także coraz bardziej wiązał się ze wzrostem znaczenia czynników geopolitycznych. (abstrakt oryginalny)

EN

The purpose of the article is to analyze the rationale behind the increase in demand for gold by the central banks of emerging economies, as well as the scale of growth and use of gold in the official reserve assets of these banks. In addition, the areas of gold's use by emerging economies have been analyzed, and the determinants of the future role of the bullion have been presented. Particular attention has been paid to those emerging economies with the largest growth in gold reserves during the analyzed period. The thesis of the article is that the increase in the share of gold in the official reserve assets of the central banks of emerging economies resulted from both the dysfunctionality of the contemporary international monetary system and the unique characteristics of gold as a reserve asset, and was increasingly associated with the growing importance of geopolitical factors. The research methods used include statistical-descriptive analysis, comparative analysis and literature study. (short original abstract)

Słowa kluczowe

PL

Banki centralne; Rezerwy; Dewizy; Złoto; Dolar; Sankcje gospodarcze

EN

Central banks; Reserves; Devices; Gold; Dollar; Economic sanctions

• Czasopismo: Bank i Kredyt
• Rocznik: 2023
• Numer: nr 3
• Strony: 259--284

Twórcy

autor

Paweł Kowalewski

• Narodowy Bank Polski

autor

Dominik A. Skopiec

• Szkoła Główna Handlowa w Warszawie

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