This paper finds that a country's affinity with a foreign country has a positive effect on foreign direct investment flows from it to that country, by analyzing Japanese foreign direct investment outflows during the period of 1995–2009. A rise in a country's affinity with a foreign country is...

In recent years, dynamic debate has arisen as to the desirability and feasibility of creating a monetary union in East Asia. While the debate has relied heavily on the theory of optimum currency areas, this theory has weaknesses in explaining the actual formation of monetary unions. At this...

Why do countries that did not participate in the establishment of international standards converge on them in the absence of external coercion? The market-based perspective asserts that market forces enhance cross-national convergence on international standards. This paper challenges the...

The internationalisation of the Chinese renminbi has taken a path distinct from most cases involving previous international currencies, in that policy measures adopted by governments have played crucial roles in it. This paper conducts a cross‐country analysis of the factors that have led...

This project transforms international financial statistics into a form useful for global political analysis. The authors first theorise four distinct faces of a sovereign state's monetary and financial power resources: its international Creditor, Network, Currency, and Governance Capabilities....

As the internationalisation of the renminbi has progressed rapidly in recent years, research on it has also grown considerably. However, most of this research tends to focus analysing it from the supply side, looking, for example, at China's economic and political conditions and related policy...

Most studies of renminbi internationalization focus on the supply side, by examining China's own economic and political conditions. In contrast, this study addresses the demand side of renminbi internationalization, by providing an in-depth analysis of renminbi use in ordinary foreign economies...

This study analyses how a state's reactive currency statecraft—its strategic reaction to an international currency issued by a foreign state—is shaped, by devoting special attention to its broad foreign policy stance toward the state issuing that international currency, with a main empirical...

Who has been in the driving seat promoting internationalization of the Chinese renminbi? Why has this actor been pushing it? How has the project managed to acquire support from other domestic actors? This study addresses these issues, highlighting the leading role of the Chinese central bank in...

Despite burgeoning research on the internationalization of the Chinese renminbi, there has been surprisingly little systematic analysis of how the renminbi is actually used in foreign markets. This study addresses this important gap in the literature by providing a cross-country analysis of...