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Renminbi jako waluta miedzynarodowa - stan obecny oraz ocena perspektyw / Renminbi as international currency - current state and potential perspectives

Author

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  • Tomasz Serwach

    (University of Lodz)

Abstract

The domination of USD in the contemporary monetary system exposes global economy, and national economies as well, to the risk of external imbalances, asset bubbles or sudden changes in valuation of foreign exchange reserves. In these circumstances one of the most frequently discussed topics is the possibility of achieving by the renminbi (CNY) the status of international currency, which would allow it to substitute USD in global finance. The article presents the importance of CNY in international monetary system and highlights factors which may affect the road of CNY to the mentioned status.

Suggested Citation

  • Tomasz Serwach, 2013. "Renminbi jako waluta miedzynarodowa - stan obecny oraz ocena perspektyw / Renminbi as international currency - current state and potential perspectives," International Economics, University of Lodz, Faculty of Economics and Sociology, issue 4, pages 39-53, December.
  • Handle: RePEc:ann:inecon:y:2013:i:4:p:39-53
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    File URL: http://repozytorium.uni.lodz.pl:8080/xmlui/bitstream/handle/11089/3119/Serwach%202013.pdf?sequence=1&isAllowed=y
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    References listed on IDEAS

    as
    1. Fontagné, Lionel & Fouré, Jean, 2013. "Opening a Pandora's box: Modeling world trade patterns at the 2035 horizon," WTO Staff Working Papers ERSD-2013-09, World Trade Organization (WTO), Economic Research and Statistics Division.
    2. Ignazio Angeloni & Agnès Bénassy-Quéré & Benjamin Carton & Christophe Destais & Zsolt Darvas & Jean Pisani-Ferry & André Sapir & Shahin Vallée, . "Global currencies for tomorrow: a European perspective," Blueprints, Bruegel, number 592.
    3. Astley, Mark & Giese, Julia & Hume, Michael & Kubelec, Chris, 2009. "Global imbalances and the financial crisis," Bank of England Quarterly Bulletin, Bank of England, vol. 49(3), pages 178-190.
    4. Ricardo Reis, 2013. "The Portugese Slump and Crash and the Euro Crisis," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 44(1 (Spring), pages 143-210.
    5. Paul R. Krugman, 1984. "The International Role of the Dollar: Theory and Prospect," NBER Chapters,in: Exchange Rate Theory and Practice, pages 261-278 National Bureau of Economic Research, Inc.
    6. Menzie Chinn & Jeffrey A. Frankel, 2007. "Will the Euro Eventually Surpass the Dollar as Leading International Reserve Currency?," NBER Chapters,in: G7 Current Account Imbalances: Sustainability and Adjustment, pages 283-338 National Bureau of Economic Research, Inc.
    7. Barry Eichengreen & Marc Flandreau, 2010. "The Federal Reserve, the Bank of England and the rise of the dollar as an international currency, 1914-39," BIS Working Papers 328, Bank for International Settlements.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    renminbi; global monetary system; international currency;

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F30 - International Economics - - International Finance - - - General

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