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RENMINBI FROM MARKETIZATION TO INTERNATIONALIZATION IBD

HAOBIN WANG / YUE ZHAO / ZHONGXIA JIN
ROUTLEDGE
05 / 2022
9781032305509
Inglés

Sinopsis

This study looks into the significance of a floating exchange rate regime, further development of the foreign exchange derivatives market, and concurrent internationalization of the Renminbi (RMB) for a resilient, open, and growing Chinese economy.The first chapter analyzes the macroeconomic impact of foreign exchange intervention based on empirical studies on 26 economies, explaining why most countries favor a floating exchange rate regime under the existing international monetary system. The second chapter discusses the macroeconomic and microeconomic conditions that would facilitate a successful transition to a floating exchange rate. The final two chapters discuss the importance of further developing the foreign exchange derivatives market in China and explores paths toward further opening-up of the capital market and internationalization of the RMB under a floating exchange rate. Based on theáauthorsâÇÖ decades of reflections and systematic analysis on real cases both in China and abroad, the title sheds lights on ChinaâÇÖs exchange rate issues and research on exchange rate policy.This book will be an essential reference for scholars, students, professionals, and policymakers interested in exchange rate, currency internationalization, the financial market, especially the derivatives market, and theáChinese economy.