Renminbi Internationalisation: A Primer
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?
|Date of creation:||31 Jul 2012|
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- Dong He & Robert McCauley, 2010.
"Offshore markets for the domestic currency: monetary and financial stability issues,"
BIS Working Papers
320, Bank for International Settlements.
- Dong He & Robert N. McCauley, 2010. "Offshore Markets for the Domestic Currency: Monetary and Financial Stability Issues," Working Papers 1002, Hong Kong Monetary Authority.
- Yin-Wong Cheung & Guonan Ma & Robert N. McCauley, 2010.
"Renminbising China's Foreign Assets,"
CESifo Working Paper Series
3009, CESifo Group Munich.
- Dong He & Robert N McCauley, 2012. "Eurodollar banking and currency internationalisation," BIS Quarterly Review, Bank for International Settlements, June.
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