link between capital account liberalization and its impact on the use of the renminbi (RMB). We find that while countries … with more developed financial markets tend to invoice less in the US dollar, countries with more open capital accounts tend …

-denominated bond issuance in Hong Kong, China, but that RMB internationalization is still limited due to capital account controls. The … paper argues that a high degree of RMB internationalization requires significant capital account liberalizationâ … monetary policy autonomy. This, however, would pose a challenge for PRC authorities as hasty capital account liberalization …

international capital flows, especially “sudden stops†or reversals of capital inflows. The paper reviews the history of East …

Capital controls and exchange restrictions are used to restrict international capital flows during economic crises … framework applicable to international capital movements and current payments. It shows how international capital flows suffer … Liberalization of Capital Movements (OECD Code of Capital Movement). Each of these instruments regulate differently capital movements …