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This paper challenges the prevailing view in the sovereign debt literature by arguing that sovereign debt markets, in many respects, behave similarly to other credit markets. These markets are hierarchical rather than flat, inherently hybrid in nature, blending elements of public order and...
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measures taken by China to internationalize its renminbi, including several bilateral swap agreements signed with other central … banks, have reinforced other eastward trends in the world economy. In this paper, China's acceleration of renminbi …
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The rise of the renminbi (RMB) as a key currency in international financial markets has been fast. It reflects China … given China's increasing weight in the world economy, this paper will argue that such an event is not likely to take place …
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