euro's impact on financial integration is primarily driven by eliminating the currency risk. Legislative …

economy. The measure of a currency's global role is based on the size and stage of development of the underlying economy, as … currency. The paper applies the concept to 22 currencies of advanced and emerging economies. The results confirm the well … measure in detail, arguing that in view of financial globalisation, an indicator based on currency shares in the international …

-2003, attempting to understand motives for issuing in foreign currency, and determinants for the choice of currency. We consider the … following influences on the currency choice when issuing foreign currency denominated debt: the microeconomic characteristics of … addition to cost minimisation, hedging motives and the desire to establish an investor base influences the choice of currency …

stability of invoicing currency patterns. But the evidence also points to several novel stylised facts. First, both the US … the euro area has declined. Second, the euro is used as a vehicle currency in parts of Africa, and some European countries … have seen significant shifts toward euro invoicing. And third, as suggested by the dominant currency paradigm, countries …

importer's currency has important implications for the transmission of shocks. We introduce this "dominant currency pricing … a non-US economy that alters the value of its currency multilaterally, expenditure-switching occurs only through imports … dominant currency in global trade. According to ECB-Global, in such a scenario the global spillovers from US shocks are smaller …

115 countries over 1999-2019. We find that standard mechanisms that foster use of a large economy's currency predicted by … currency. Fundamentals and policies have played a contrasted role for the use of the renminbi. We find that China's integration …, the establishment of currency swap lines by the People's Bank of China has been associated with increases in renminbi …

This paper provides insights into the determinants of currency choice in cross-border bank lending, such as bilateral … distance, financial and trade linkages to issuer countries of major currencies, and invoicing currency patterns. Cross …