Funke, Michael; Shu, Chang; Cheng, Xiaoqiang; Eraslan, … - Bank for International Settlements (BIS) - 2015
Renminbi internationalisation has brought about an active offshore market where the exchange rate frequently diverges from the onshore market. Using extended GARCH models, we explore the role of fundamentals, global factors and policies related to renminbi internationalisation in driving the...
