Concentration of financial instruments in the global world as a way of economic growth cross-country redistribution

Abstract

The traditional doctrine of the international credit market countries with surplus funds (budget) lending resources to the countries with deficit funds (budgets) is untenable. There are many cases when the roles of the main creditors are the countries with large budget deficit. Thus, in an era of megaeconomics, freely convertible currencies of individual countries provide financial services to other countries (with non convertible currencies) regardless of the situation in their own economy. These countries are paid for providing such services and there is a redistribution of economic growth in the world. Countries with well-developed financial infrastructure impose their currencies to other countries and consequently gain. For poor countries, the situation gets worse when they are in regional economic unions and they fall under dual pressures.