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RMB Internationalization: What is in for Taiwan?

Author

Listed:
  • AliciaGarcia-Herrero
  • Yingyi Tsai
  • Xia Le

Abstract

Along with the steady pace of RMB internationalization, this paper proposes Taiwan as a potential lcandidate to become the next RMB offshore center. We review the main drivers behind Hong Kong s success and set the reasons why Taiwan could follow such steps. First, Taiwan s economic ties with China are substantial both in trade and FDI and they are set to be increasingly supported by the improved political relations across the Strait. Second, the relatively large size of Taiwan s financial system, especially if we consider the enormous pool of savings in its investment and insurance companies, and its well-functioning infrastructure, should provide the necessary elements for an off-shore RMB market to develop. Finally, following Hong Kong s experience, we offer some suggestions on possible pre-conditions for Taiwan to become the next RMB offshore center.

Suggested Citation

  • AliciaGarcia-Herrero & Yingyi Tsai & Xia Le, 2012. "RMB Internationalization: What is in for Taiwan?," Working Papers 1206, BBVA Bank, Economic Research Department.
    • Handle: RePEc:bbv:wpaper:1206
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    Citations

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    Cited by:

    1. Batten, Jonathan A. & Szilagyi, Peter G., 2016. "The internationalisation of the RMB: New starts, jumps and tipping points," Emerging Markets Review, Elsevier, vol. 28(C), pages 221-238.
    2. Alicia Garcia-Herrero & Le Xia, 2015. "RMB Bilateral Swap Agreements: how China chooses its partners?," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 22(4), pages 368-383, December.
    3. Junker, Franziska & Wolf, Verena & Marquardt, Sandra & Ledebur, Oliver, 2015. "Changes to EU Biofuel Policy- Turmoil on Feedstock Markets," 2015 Conference, August 9-14, 2015, Milan, Italy 211819, International Association of Agricultural Economists.
    4. Javier Alonso & David Tuesta & Diego Torres Torres & Begona Villamide, 2013. "Projections of dynamic generational tables and longevity risk in Chile," Working Papers 1315, BBVA Bank, Economic Research Department.

    More about this item

    Keywords

    RMB Internationalization; Offshore RMB market;

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission

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