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The internationalization of the Renminbi and the evolution of China’s monetary policy

Author

Listed:
  • Ramaa Vasudevan

    (Colorado State University)

Abstract

This paper explores the evolution of monetary policy in the context of the distinct path China and the PBoC have adopted in fostering the international role of the renminbi. Instead of focusing on the PBoC’s negotiation of the impossible trinity of flexible exchange rates, capital mobility and independent monetary policy, the paper highlights the challenges the PBoC faces as it promotes the use renminbi, in international lending in particular, while simultaneously seeking to contain and discipline the inherent instability and potentially disruptive logic of finance.

Suggested Citation

  • Ramaa Vasudevan, 2018. "The internationalization of the Renminbi and the evolution of China’s monetary policy," Working Papers 1810, New School for Social Research, Department of Economics.
    • Handle: RePEc:new:wpaper:1810
    as

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    File URL: http://www.economicpolicyresearch.org/econ/2018/NSSR_WP_102018.pdf
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    China; monetary policy; internationalization of renminbi; impossible trinity;
    All these keywords.

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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