Publication in refereed journal
香港中文大学研究人员 ( 现职)
| 叶家兴教授 (金融学系) |
全文
| 数位物件识别号 (DOI) http://dx.doi.org/10.1111/j.1749-124X.2012.01302.x |
引用次数
Web of Sciencehttp://aims.cuhk.edu.hk/converis/portal/Publication/3WOS source URL
其它资讯
摘要Using principal component analyses, this paper constructs two internationalization indices for the renminbi (RMB) and http://aims.cuhk.edu.hk/converis/portal/Publication/32 other major currencies. We find that the RMB's currency internationalization degree index (CIDI) is still low, and far behind the 4 most important international currencies. In 2009, it was ranked 18th among all important international currencies. However, in terms of the currency internationalization prospect index (CIPI), the RMB has remained the world's fifth highest since 2006. Although it is still far behind the US dollar and the euro, surpassing the ranking of the yen and the pound is possible in the near future. The dramatic difference in the ranking between the CIDI and the CIPI is a result of China's tight capital account control, the usage continuity of international currency due to network externalities, and the narrow foreign exchange and imperfect financial markets. Hence, to a large degree, the RMB's potential as an international currency depends on China's capital account liberalization.
着者Tung CY, Wang GC, Yeh J
期刊名称China and World Economy
出版年份2012
月份9
日期1
卷号20
期次5
出版社WILEY-BLACKWELL
页次6http://aims.cuhk.edu.hk/converis/portal/Publication/3 - 82
国际标準期刊号1671-22http://aims.cuhk.edu.hk/converis/portal/Publication/34
语言英式英语
关键词C1; currency internationalization; currency internationalization degree index; currency internationalization prospect index; Fhttp://aims.cuhk.edu.hk/converis/portal/Publication/31; O24; principal component analysis; RMB
Web of Science 学科类别Business & Economics; Economics; ECONOMICS
