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on what amount and which form to hold for emerging economies. This paper attempts to address the two questions for China … conclusions are drawn, including a major confirmation that China's holding of reserves exceeds the estimated adequate level. With … issue of how to manage China's foreign exchange reserves in the long-term and short-term scenarios. To fundamentally …
Persistent link: https://www.econbiz.de/10012726024
This paper examines the degree to which the learning by doing externality [LBD] calls for an undervalued exchange rate, a policy suggested by recent empirical studies which concluded that mildly undervalued real exchange rate may enhance growth. We obtain mixed results. For an economy where LBD...
Persistent link: https://www.econbiz.de/10012772382
Given the rapidly growing reserves in Asia (China, Japan, Korea, Taiwan) and the pressures from trading partners to …, and that changes in trade flows can be substantial. Different treatments of China's processing trade have small impact on … changes in China's trade flow under RMB appreciation, but significant impacts on the change in the surplus. Results are …
Persistent link: https://www.econbiz.de/10012759718
years, the authorities in the People's Republic of China (PRC) have made efforts to internationalize its currency through a …
Persistent link: https://www.econbiz.de/10013053465
In this paper, we consider an alternative perspective to China's exchange rate policy. We study a semi-open economy …
Persistent link: https://www.econbiz.de/10013054102
Persistent link: https://www.econbiz.de/10012803092
We analyze prospects for the Chinese renminbi to become a major international currency, along with the US dollar, in a multiple reserve currency world. Analytical models on switching costs in networks and on currency choice under direct and indirect transaction costs are used to derive variables...
Persistent link: https://www.econbiz.de/10012917873
Persistent link: https://www.econbiz.de/10012512550
Since 2009, the Chinese government has committed itself to encourage Renminbi (RMB) internationalization. China has … foreign trade currency and strengthens the RMB's position as an international currency. China must encourage RMB …
Persistent link: https://www.econbiz.de/10012628158
This paper studies the impacts of foreign exchange reserves intervention under the economic structures of China that … exchange rate for the China’s central bank may stabilize the fluctuation of the nominal exchange rate, but it may expand the …
Persistent link: https://www.econbiz.de/10013242033