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but to press for reform since the current growth model is no longer working and China urgently needs to better allocate …This paper reviews the steps that China has taken towards financial reform with a particular focus on capital account … liberalisation and internationalisation of the use of the renminbi. After a slowdown in reform momentum during the global financial …
Persistent link: https://www.econbiz.de/10011384045
currencies. China stopped pegging her currency to the US dollar and moved into a managed floating exchange rate system on July 21 …, 2005. The change in China’s exchange rate regime opens a window of opportunity to investigate the influence of renminbi on …This paper investigates the emerging influence of the Chinese renminbi on the exchange rate movements of East Asian …
Persistent link: https://www.econbiz.de/10009710472
Empirical studies outline developing countries’ experience economic growth through an undervalued exchange rate and … that exchange rate overvaluations have negative long term effects on economic growth. This paper examined the impact of … exchange rate movements as well as exchange rate misalignments on economic growth for the Trinidad and Tobago economy over the …
Persistent link: https://www.econbiz.de/10011956526
This study analyzes the impact of real exchange rate undervaluation on Indonesia's manufacturing exports in 22 … exports in the previous period, real interest rates, real wages, labor productivity, and firm growth. This finding indicates …'s manufacturing exports. In addition, this study finds that manufactured exports are significantly determined by the manufactured …
Persistent link: https://www.econbiz.de/10013183992
This paper examines changes in the balance sheets of the banking system in five East Asian economies which were affected by the 1997 Asian Crisis. These countries have persistently accumulated international reserves since the crisis. This paper estimates the impact of reserve accumulation on...
Persistent link: https://www.econbiz.de/10009728595
Persistent link: https://www.econbiz.de/10003944491
The paper discusses whether US dollar based financial sanctions will undermine the dollar's dominant international role. Despite long-standing attempts to reduce the role of the dollar, these have had limited success so far. I discuss why this is the case and why alternatives to the dollar are...
Persistent link: https://www.econbiz.de/10015395727
Purpose - This paper aims to obtain a recent estimate of the cost of precautionary foreign reserve accumulation that emerging market and developing economies (EMDEs) had to endure to protect themselves against the risks of financial globalization. In addition, the study estimates the cost of...
Persistent link: https://www.econbiz.de/10015339222
In this paper we attempt to determine whether the Chinese foreign exchange reserves have been too large. We empirically analyzed the foreign exchange reserves first by using the rate analysis method and then using the cost-profit method. Using the rate analysis method we found that the Chinese...
Persistent link: https://www.econbiz.de/10009539851
Persistent link: https://www.econbiz.de/10010258977