Showing 1 - 10 of 62
This paper analyzes the consequences of the internationalization of the Chinese renminbi for the global monetary system …
Persistent link: https://www.econbiz.de/10013087068
Drawing Rights (SDR), effective in October 2016, with 10.92 percent, ranking number 3, surpassing the JPY and GBP. Finally …
Persistent link: https://www.econbiz.de/10012980662
with the undervaluation of renminbi (RMB). But the Chinese Government hesitates to allow RMB to appreciate because of the …
Persistent link: https://www.econbiz.de/10012778299
Previous studies have focused on when the renminbi will play a significant role as an international currency, but less … attention has been paid to where. We fill this gap by contrasting two answers to the question. One is that the renminbi will … financial flows and to its institutional initiatives, not just in Asia but around the world. The other is that the renminbi will …
Persistent link: https://www.econbiz.de/10013011929
Fixed and flexible exchange rates each have advantages, and a country has the right to choose the regime suited to its circumstances. Nevertheless, several arguments support the view that the de facto dollar peg may now have outlived its usefulness for China. (1) China's economy is on the...
Persistent link: https://www.econbiz.de/10013232023
This paper aims at assessing the relationship between the exchange value of the Chinese Renminbi (RMG) and China …
Persistent link: https://www.econbiz.de/10013234033
This paper provides an overview of Chinese financial and trade integration in recent decades, and the challenges facing China in the coming years. China had been a prime example of exported growth, benefiting from learning by doing, and by adopting foreign know-how, supported by a complex...
Persistent link: https://www.econbiz.de/10013028538
This paper provides a framework for evaluating how market participants' beliefs about foreign exchange target zones change as they learn about central bank intervention policy. In order to examine this behavior, we first generalize the standard target zone model to allow for intra-marginal...
Persistent link: https://www.econbiz.de/10013140134
This paper sets out the political economy behind Asian governments' participation in a revived Bretton Woods System. The overriding problem for these governments is to rapidly integrate a large pool of underemployed labor into the industrial sector. The principal constraints are inefficient...
Persistent link: https://www.econbiz.de/10013103790
This paper offers new evidence on the emergence of the dollar as the leading international currency, focusing on its role as currency of denomination in global bond markets. We show that the dollar overtook sterling much earlier than commonly supposed, as early as in 1929. Financial market...
Persistent link: https://www.econbiz.de/10013106301