Internationalization of the Renminbi: theory and evidence

Background paper for The State of Governance in Bangladesh 2012.

Bibliographic Details
Main Authors:	Islam, M. Shahidul, Bashar, Omar Khaled M R
Other Authors:	Institute of Governance Studies, BRAC University
Format:	Working paper
Language:	English
Published:	BRAC University 2019
Subjects:	Internationalization of currency Renminbi USD Global financial hub
Online Access:	http://hdl.handle.net/10361/11665

id	10361-11665
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spelling	10361-116652019-09-30T05:39:31Z Internationalization of the Renminbi: theory and evidence Islam, M. Shahidul Bashar, Omar Khaled M R Institute of Governance Studies, BRAC University Internationalization of currency Renminbi USD Global financial hub Background paper for The State of Governance in Bangladesh 2012. IGS Working Paper Series No. 04/2012 Includes bibliographical references (pages 26-30) We investigate the possibility of the Chinese currency, Renminbi (RMB), becoming a dominant international currency. Using a qualitative analysis of the volume of trade and financial transactions, especially cross-border exchanges conducted in RMB from 1980 to 2011 as well as Beijing’s recent move to globalise its currency we found that RMB fares well as a candidate to become a dominant international currency. While China’s ‘sub-optimal’ approach in this regard has had marked success in the neighborhood but the RMB’s global success as a reserve currency will depend on how Beijing reforms its financial system. Nevertheless, given the rapid changes in the global economy, market forces might prompt RMB’s arrival much earlier than the schedule. Further, the paper indicates that the world is perhaps heading towards an era of multiple currency reserve system whereby the RMB could play greater role in the global economy along with the USD, the euro and the Japanese yen. M. Shahidul Islam Omar Khaled M R Bashar 2019-04-02T05:37:45Z 2019-04-02T05:37:45Z 2012 2012-08 Working paper http://hdl.handle.net/10361/11665 en BRAC University reports are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. 30 pages application/pdf BRAC University
institution	Brac University
collection	Institutional Repository
language	English
topic	Internationalization of currency Renminbi USD Global financial hub
spellingShingle	Internationalization of currency Renminbi USD Global financial hub Islam, M. Shahidul Bashar, Omar Khaled M R Internationalization of the Renminbi: theory and evidence
description	Background paper for The State of Governance in Bangladesh 2012.
author2	Institute of Governance Studies, BRAC University
author_facet	Institute of Governance Studies, BRAC University Islam, M. Shahidul Bashar, Omar Khaled M R
format	Working paper
author	Islam, M. Shahidul Bashar, Omar Khaled M R
author_sort	Islam, M. Shahidul
title	Internationalization of the Renminbi: theory and evidence
title_short	Internationalization of the Renminbi: theory and evidence
title_full	Internationalization of the Renminbi: theory and evidence
title_fullStr	Internationalization of the Renminbi: theory and evidence
title_full_unstemmed	Internationalization of the Renminbi: theory and evidence
title_sort	internationalization of the renminbi: theory and evidence
publisher	BRAC University
publishDate	2019
url	http://hdl.handle.net/10361/11665
work_keys_str_mv	AT islammshahidul internationalizationoftherenminbitheoryandevidence AT basharomarkhaledmr internationalizationoftherenminbitheoryandevidence
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Internationalization of the Renminbi: theory and evidence

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