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This study examines the role of the Chinese renminbi (RMB) as an international anchor currency. After China abandoned …'s role reflected China's growing presence in the global economy, even challenging the USD in some of the 155 countries that … RMB's anchor weight in exchange rate policies remains low irrespective of China's global role. Overall, the weight of the …
Persistent link: https://www.econbiz.de/10014519200
To empirically investigate whether the Belt and Road Initiative (BRI) acts as a catalyst to the forming of a regional RMB bloc, we explore the co-movements between the RMB and the currencies of BRI countries from July 21, 2005 to December 31, 2018 using a modified Frankel-Wei model. We find that...
Persistent link: https://www.econbiz.de/10013222149
Persistent link: https://www.econbiz.de/10011812056
follow such steps. First, Taiwan's economic ties with China are substantial both in trade and FDI and they are set to be …
Persistent link: https://www.econbiz.de/10013083189
-for-tat responses between just the US and China would likely leave the dollar's role essentially unchanged. If both countries coordinate …
Persistent link: https://www.econbiz.de/10014322792
to purchase and sell financial assets. Our model contributes to the debate on the internationalization of the renminbi …, supporting the view that deep financial reforms should precede capital account liberalization to sustain the renminbi …
Persistent link: https://www.econbiz.de/10013044917
international currency. If the renminbi were to become a dominant international currency, it would require China to attain a much … dynamic path and lead to an earlier critical transition. We then discuss the implications for the renminbi, a budding …
Persistent link: https://www.econbiz.de/10013046848
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
This paper employs the GMM estimator to empirically investigate the effects of Japanese international reserves on Yen internationalization from 1976 through 2009 by specifying the regression benchmark based on the long-run determinants of Yen internationalization with economic power, Yen...
Persistent link: https://www.econbiz.de/10013138172
criterion, China accounts for the largest share in the regional share, but Yen seems to havean upper hand in the stability … criterion. The sophisticated cooperative-competitive relationship between China and Japan may prolong the birth of a new anchor …
Persistent link: https://www.econbiz.de/10012632084