Dollar Dominance. Why it Rules the Global Economy and How to Challenge it.

Link eBook: Dollar Dominance. Why it Rules the Global Economy and How to Challenge it by Photis Lysandrou, 2025 

Drawing on examples from the 2008 Great Financial Crisis to Russia’s invasion of Ukraine, Lysandrou reveals the true global financial foundations of dollar dominance, and lays out what it would take for other currencies such as the Euro to challenge its position.

In a world shaken by crises, why does the dollar continue to dominate? In this book, Photis Lysandrou explores the interaction between global instability and the enduring strength of the dollar. Drawing on examples from the 2008 Great Financial Crisis to the COVID-19 pandemic and Russia’s invasion of Ukraine, the author reveals how uncertainty and instability in global trade, production and politics drives investors towards the safety of the dollar, reinforcing its dominance over other currencies.

With clear and insightful analysis, Lysandrou reveals the true global financial foundations of dollar dominance, and lays out what it would take for other currencies such as the Euro to challenge its position.

Book Information

Copyright: © Bristol University Press 2025

Hardback ISBN: 9781529249705

ePub ISBN: 9781529249712

Online ISBN: 9781529249729

Page Extent: 154

About the author

Photis Lysandrou is Research Professor at City University Political Economy Research Centre (CITYPERC), Department of International Politics. He has previously taught in Queen Mary College, University of London, University of Greenwich and at London Metropolitan University where he was Lead Professor in Economics. He has published papers in several leading economics and finance journals. His current areas of research interest include the financialisation of the global economy, the structure of the international currency markets and the financial pressures on corporate governance. His current research interests are in the areas of the global finance, shadow banking, corporate governance and the political economy of Europe. His recent journal publications include "The Colonisation of the Future: An Alternative View of Financialisation and its Portents", Journal of Post Keynesian Economics, December 2016, and "The Explosive Growth of the US ABCP Market Between 2004 and 2007: A Search for Yield Story" (co-author, Mimoza Shabani), Journal of Post Keynesian Economics, March, 2017. He has published widely on global political economy and on the global financial crisis. His book ‘Commodity: The Global Commodity System in the 21st Century’ was published by Routledge in the autumn of 2018.