Internationalisation of national currency: Hegemony and monetary hegemony

The national monetary power of a state not only affects the global financial management structure, but also enables it to achieve its foreign policy goals. As the national currencies become the most valid currency in the international arena, the effect of that currency extends far beyond the jurisdiction of the exporting countries and provides benefits for the country. Monetary hegemony, which is called the achievement of a currency to this level, is governed primarily by its competitiveness. In this thesis, the process of forming hegemony of the countries which have hegemonic power since history and the process of internationalization of their national currencies and the relationship between monetary hegemony are examined. Keywords: Hegemony, Monetary Hegemony, Reserve Currency, Hegemony, Internationalization of Money