Akram, Tanweer; al Mamun, Khawaja Abdullah - 2023
over-the-counter derivative products, such as CNY interest rate swap yields, through the short-term interest rate. The …, interest rate swaps are likely to have an important role in the Chinese financial system. This paper shows that the short-term … interest rate exerts a decisive influence on the long-term swap yield after controlling for various macrofinancial variables …