He, Dong (2012): Renminbi Internationalisation: A Primer. Published in:
Download (47kB) | Preview
This paper provides a succinct introduction to the internationalisation of the renminbi, a subject of increasing importance in the economics of China. It attempts to shed light on the following questions: Why do non-Chinese residents have incentives to hold renminbi-denominated assets and liabilities? How do non-Chinese residents acquire renminbi-denominated assets and liabilities? Does this not require convertibility of the renminbi under the capital account of the balance of payments? What are the roles of official policies and market forces in driving the process of renminbi internationalisation?
|Item Type:||MPRA Paper|
|Original Title:||Renminbi Internationalisation: A Primer|
|Keywords:||renminbi; currency internationalisation|
|Subjects:||E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their Policies
E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems
F - International Economics > F3 - International Finance > F33 - International Monetary Arrangements and Institutions
|Depositing User:||Dong He|
|Date Deposited:||15. Aug 2012 13:50|
|Last Modified:||13. Feb 2013 08:45|
Cheung, Yin-Wong, Guonan Ma and Robert McCauley (2011): "Renminbising China's Foreign Assets," Pacific Economic Review, Wiley Blackwell, vol. 16(1), pages 1-17, 02.
Garber, Peter (2011): “What currently drives CNH market equilibrium?” a CGS/IIGG Working Paper, Council on Foreign Relations, November.
He, Dong and Robert McCauley (2010): “Offshore markets for the domestic currency: monetary and financial stability issues”, BIS Working Papers, no 320, September.
He, Dong and Robert McCauley (2012): “Eurodollar banking and currency internationalisation”, BIS Quarterly Review, Bank for International Settlements, June.
Zhou, Xiaochuan (2009): “Thoughts on reforming the international monetary system”, 23 March, the People’s Bank of China (in Chinese)
Zhou, Xiaochuan (2012): “Special Interview—everything about the renminbi”, Century Weekly, 2 January, published by Caixin Media (in Chinese)