Li, Mingming; Qin, Fengming; Zhang, Zhaoyong - In: Journal of risk and financial management : JRFM 14 (2021) 5, pp. 1-15
internationalization and empirically test the interactive effects among short-term capital flows, RMB appreciation expectation and the … internationalization would attract more short-term capital inflow due to the reduced transaction costs. The empirical evidence from the VAR … model estimation confirms the finding that expected RMB appreciation induces short-term capital inflow and promotes RMB …