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FX and derivatives markets in emerging economies and the internationalisation of their currencies

  • Torsten Ehlers
  • Frank Packer
Registered author(s):

    Derivatives markets in emerging economies have continued to grow since 2010, driven mostly by very strong growth in the OTC market. Emerging market currencies have become more international as offshore markets are a major contributor to FX turnover. The Chinese renminbi is actively traded within emerging Asia. Trading of emerging market currencies is positively related to the size of cross-border financial flows.

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    Article provided by Bank for International Settlements in its journal BIS Quarterly Review.

    Volume (Year): (2013)
    Issue (Month): (December)
    Pages:

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    Handle: RePEc:bis:bisqtr:1312g
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    1. Dubravko Mihaljek & Frank Packer, 2010. "Derivatives in emerging markets," BIS Quarterly Review, Bank for International Settlements, December.
    2. Kristin J. Forbes & Francis E. Warnock, 2011. "Capital Flow Waves: Surges, Stops, Flight, and Retrenchment," NBER Chapters, in: Global Financial Crisis National Bureau of Economic Research, Inc.
    3. Yung Chul Park & Chi-Young Song, 2011. "Renminbi Internationalization: Prospects and Implications for Economic Integration in East Asia," Asian Economic Papers, MIT Press, vol. 10(3), pages 42-72, October.
    4. Dagfinn Rime & Andreas Schrimpf, 2013. "The anatomy of the global FX market through the lens of the 2013 Triennial Survey," BIS Quarterly Review, Bank for International Settlements, December.
    5. Christian Thimann, 2008. "Global Roles of Currencies," International Finance, Wiley Blackwell, vol. 11(3), pages 211-245, December.
    6. Michael R King & Dagfinn Rime, 2010. "The $4 trillion question: what explains FX growth since the 2007 survey?," BIS Quarterly Review, Bank for International Settlements, December.
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