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China's exchange rate and financial repression : the conflicted emergence of the renminbi as an international currency

McKinnon, Ronald I.; Schnabl, Gunther - 2014

China has been provoked into speeding renminbi internationalization. But despite rapid growth in offshore financial … could attract even more hot money inflows, the People's Bank of China should focus on tightly stabilizing the yuan/ dollar … exchange rate to encourage naturally high wage increases for balancing China's international competitiveness. …

Persistent link: https://www.econbiz.de/10010249643

The provision of global liquidity : the global reserve system

Ocampo Gaviria, José Antonio - 2014

This paper analyses three major problems of the current international monetary system: the asymmetric-adjustment problem, dependence on the monetary policy of the main reserveissuing country, and the large demand for self-insurance by developing countries. It then proposes two reform routes:...

Persistent link: https://www.econbiz.de/10010419488

Increasing the international role of the euro : a long way to go

Dąbrowski, Marek - 2020

The euro is the second most important global currency after the US dollar. However, its international role has not increased since its inception in 1999. The private sector prefers using the US dollar rather than the euro because the financial market for US dollar-denominated assets is larger...

Persistent link: https://www.econbiz.de/10012265943

Internationalization of the renminbi : what it means for the stability and flexibility of the international monetary system

Jenkins, Paul; Zelenbaba, John - In: Oxford review of economic policy 28 (2012) 3, pp. 512-531

Persistent link: https://www.econbiz.de/10009727414

The Triffin dilemma again

Campanella, Edoardo - 2009

Tiny changes in the American monetary policy can have dramatic effects on the rest of the world because of its double role of national and international currency. This is what I call the Triffin dilemma, an ever green concept in international finance. In the paper I show how it works through...

Persistent link: https://www.econbiz.de/10003905051

The Triffin dilemma again

Campanella, Edoardo - 2010

Tiny changes in the American monetary policy can have dramatic effects on the rest of the world because of dollar's double role of national and international currency. This is the Triffin dilemma. The paper shows how it works through three examples: price of commodities, dollarization, and the...

Persistent link: https://www.econbiz.de/10008648332

What Drives Growing Currency Co-Movements with the Renminbi?

Park, Bokyeong - 2020

China's increasing trade volume and continuous integration with global financial markets have strengthened the … influences of the renminbi on the exchange rates of different currencies. Previous studies find closer co-movements between the … renminbi and other currencies. This paper is novel to investigate the underlying determinants of the comovement further, using …

Persistent link: https://www.econbiz.de/10012837173

Chinese Domestic Politics and the Internationalization of the Renminbi

Chey, Hyoung-kyu - 2020

Who has been in the driving seat promoting internationalization of the Chinese renminbi? Why has this actor been …, highlighting the leading role of the Chinese central bank in renminbi internationalization. At first glance the bank's active … advocacy of renminbi internationalization seems puzzling, since many studies point to a decline in the effectiveness of the …

Persistent link: https://www.econbiz.de/10012830667

Is the renminbi Asia's dominant reference currency? : a reconsideration

Chow, Hwee-kwan - In: China economic policy review 3 (2014) 1, pp. 1-20

Persistent link: https://www.econbiz.de/10010506541

Renminbi internationalization in the new normal : progress, determinants and policy discussions

Li, Cheng; Zhang, Xiaojing - In: China & world economy 25 (2017) 2, pp. 22-44

Persistent link: https://www.econbiz.de/10011659802

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