Hyoung-Kyu Chey
Biographic Data
| ID | 2174583 |
|---|---|
| NAME | Hyoung-Kyu Chey |
| GIVEN NAMES | Hyoung-Kyu |
| FAMILY NAME | Chey |
| SIGNATURE | CHEY H |
| AFFILIATIONS | National Graduate Institute for Policy Studies (GRIPS), Tokyo, Japan |
| VERIFIED | No |
| TOTAL WORKS | 11 |
| TOTAL CITATIONS | 35 |
| AUTHOR COUNT | 11 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2006 |
| LATEST PUBLICATION YEAR | 2026 |
| H-INDEX | 4 |
Central bank digital currencies and the global monetary system
Most existing international political economy research on central bank digital currencies focuses on a limited set of countries and policy objectives, which restricts understanding of how CBDC strategies vary across national contexts and what they imply for the global monetary system. This paper begins by examining the political economy surrounding CBDC adoption from a broad perspective encompassing most of the major potential effects of CBDCs. I…
Cryptocurrencies and the IPE of money: An agenda for research
Despite the exploding interest in cryptocurrencies in the markets in recent years, the political economy study of them, in particular as money, remains underdeveloped. This seems quite surprising, given the otherwise extensive research on money and finance in the international political economy (IPE) literature. This essay calls for a greater engagement of IPE scholarship in analyzing cryptocurrencies as money. It argues first that theories of mo…
The Impacts of Policy Infrastructures on the International Use of the Chinese Renminbi
Despite burgeoning research on the internationalization of the Chinese renminbi, there has been surprisingly little systematic analysis of how the renminbi is actually used in foreign markets. This study provides a cross-country analysis of renminbi use in offshore foreign exchange markets, with special attention to the effects of the cooperative policy measures adopted by China and foreign states to promote the renminbi’s international use. We f…
Chinese Domestic Politics and the Internationalization of the Renminbi
ONE OF THE MOST NOTABLE DEVELOPMENTS in contemporary international monetary affairs is undoubtedly the internationalization of the Chinese currency, the renminbi (RMB), which has progressed significantly since the global financial crisis of 2008–2009. Although RMB internationalization (henceforth RMBI) has slowed somewhat since mid-2015, and its future has as a consequence become more uncertain, the RMB’s position as a global payment currency did…
The Monetary and Financial Powers of States: Theory, Dataset, and Observations on the Trajectory of American Dominance
This project transforms international financial statistics into a form useful for global political analysis. The authors first theorise four distinct faces of a sovereign state's monetary and financial power resources: its international Creditor, Network, Currency, and Governance Capabilities. Each of these capabilities implies resources that incumbent political leaders potentially may employ to persuade, induce, or coerce others in pursuit of th…
The International Politics of Reactive Currency Statecraft: Japan’s Reaction to the Rise of the Chinese Renminbi
This study analyses how a state’s reactive currency statecraft – its strategic reaction to an international currency issued by a foreign state – is shaped, by devoting special attention to its broad foreign policy stance towards the state issuing that international currency, with a main empirical focus on the Japanese case with regard to the Chinese renminbi. This research argues that a state uses its policy related to a foreign international cur…
Civilisational values and political economy beyond the West: The significance of Korean debates at the time of its economic opening
This paper analyses the prominence of civilisational values in Korean political economy debates in the late 19th and early 20th centuries concerning their country’s dramatic opening to the world economy at the time. Korean supporters of economic opening saw this policy change as part of a wider embrace of Western civilisational values, while opponents argued that their country’s longstanding economic autarchy upheld traditional Neo-Confucian civi…
Can the Renminbi Rise as a Global Currency
Chinese replacement of the U.S. dollar by the renminbi as the leading international currency appears unlikely, at least in the foreseeable future, owing to weakness in China’s international political power and its economy, but the renminbi could develop into an Asian regional currency to some extent
Can the European Monetary System be a model for East Asian monetary cooperation
Since the 1997 Asian financial crisis and the launch of the European Economic and Monetary Union shortly afterward, a growing number of studies have considered the idea of a so-called Asian Monetary System, mostly adopting the European Monetary System as its model. The operational adjustment burdens in the European Monetary System were asymmetrically distributed, however, in particular between Germany and the other member countries. The emulation…
The Changing Political Dynamics of East Asian Financial Cooperation: The Chiang Mai Initiative
This paper analyzes the factors that have contributed to the development of the Chiang Mai Initiative, one of the prominent examples of recent East Asian financial cooperation, by comparing it with the failed 1997 proposal for an Asian Monetary Fund
Explaining cosmetic compliance with international regulatory regimes: The implementation of the Basle Accord in Japan, 1998–2003
I wish to thank Andrew Walter, the editors of New Political Economy and two anonymous reviewers for helpful comments on earlier versions of this article. I am also indebted to the 16 Japanese bank regulators, government advisers, academics and analysts in credit rating companies who participated in interviews. Research was conducted primarily while on a Japan Foundation Fellowship, during which time I was a visiting research scholar in the Instit…
The Changing Political Dynamics of East Asian Financial Cooperation: The Chiang Mai Initiative
This paper analyzes the factors that have contributed to the development of the Chiang Mai Initiative, one of the prominent examples of recent East Asian financial cooperation, by comparing it with the failed 1997 proposal for an Asian Monetary Fund
Explaining cosmetic compliance with international regulatory regimes: The implementation of the Basle Accord in Japan, 1998–2003
I wish to thank Andrew Walter, the editors of New Political Economy and two anonymous reviewers for helpful comments on earlier versions of this article. I am also indebted to the 16 Japanese bank regulators, government advisers, academics and analysts in credit rating companies who participated in interviews. Research was conducted primarily while on a Japan Foundation Fellowship, during which time I was a visiting research scholar in the Instit…
The International Politics of Reactive Currency Statecraft: Japan’s Reaction to the Rise of the Chinese Renminbi
This study analyses how a state’s reactive currency statecraft – its strategic reaction to an international currency issued by a foreign state – is shaped, by devoting special attention to its broad foreign policy stance towards the state issuing that international currency, with a main empirical focus on the Japanese case with regard to the Chinese renminbi. This research argues that a state uses its policy related to a foreign international cur…
The Monetary and Financial Powers of States: Theory, Dataset, and Observations on the Trajectory of American Dominance
This project transforms international financial statistics into a form useful for global political analysis. The authors first theorise four distinct faces of a sovereign state's monetary and financial power resources: its international Creditor, Network, Currency, and Governance Capabilities. Each of these capabilities implies resources that incumbent political leaders potentially may employ to persuade, induce, or coerce others in pursuit of th…
Cryptocurrencies and the IPE of money: An agenda for research
Despite the exploding interest in cryptocurrencies in the markets in recent years, the political economy study of them, in particular as money, remains underdeveloped. This seems quite surprising, given the otherwise extensive research on money and finance in the international political economy (IPE) literature. This essay calls for a greater engagement of IPE scholarship in analyzing cryptocurrencies as money. It argues first that theories of mo…
Civilisational values and political economy beyond the West: The significance of Korean debates at the time of its economic opening
This paper analyses the prominence of civilisational values in Korean political economy debates in the late 19th and early 20th centuries concerning their country’s dramatic opening to the world economy at the time. Korean supporters of economic opening saw this policy change as part of a wider embrace of Western civilisational values, while opponents argued that their country’s longstanding economic autarchy upheld traditional Neo-Confucian civi…
Chinese Domestic Politics and the Internationalization of the Renminbi
ONE OF THE MOST NOTABLE DEVELOPMENTS in contemporary international monetary affairs is undoubtedly the internationalization of the Chinese currency, the renminbi (RMB), which has progressed significantly since the global financial crisis of 2008–2009. Although RMB internationalization (henceforth RMBI) has slowed somewhat since mid-2015, and its future has as a consequence become more uncertain, the RMB’s position as a global payment currency did…
Can the Renminbi Rise as a Global Currency
Chinese replacement of the U.S. dollar by the renminbi as the leading international currency appears unlikely, at least in the foreseeable future, owing to weakness in China’s international political power and its economy, but the renminbi could develop into an Asian regional currency to some extent
Can the European Monetary System be a model for East Asian monetary cooperation
Since the 1997 Asian financial crisis and the launch of the European Economic and Monetary Union shortly afterward, a growing number of studies have considered the idea of a so-called Asian Monetary System, mostly adopting the European Monetary System as its model. The operational adjustment burdens in the European Monetary System were asymmetrically distributed, however, in particular between Germany and the other member countries. The emulation…
Explaining cosmetic compliance with international regulatory regimes: The implementation of the Basle Accord in Japan, 1998–2003
I wish to thank Andrew Walter, the editors of New Political Economy and two anonymous reviewers for helpful comments on earlier versions of this article. I am also indebted to the 16 Japanese bank regulators, government advisers, academics and analysts in credit rating companies who participated in interviews. Research was conducted primarily while on a Japan Foundation Fellowship, during which time I was a visiting research scholar in the Instit…
The Changing Political Dynamics of East Asian Financial Cooperation: The Chiang Mai Initiative
This paper analyzes the factors that have contributed to the development of the Chiang Mai Initiative, one of the prominent examples of recent East Asian financial cooperation, by comparing it with the failed 1997 proposal for an Asian Monetary Fund
Can the European Monetary System be a model for East Asian monetary cooperation
Since the 1997 Asian financial crisis and the launch of the European Economic and Monetary Union shortly afterward, a growing number of studies have considered the idea of a so-called Asian Monetary System, mostly adopting the European Monetary System as its model. The operational adjustment burdens in the European Monetary System were asymmetrically distributed, however, in particular between Germany and the other member countries. The emulation…
Can the Renminbi Rise as a Global Currency
Chinese replacement of the U.S. dollar by the renminbi as the leading international currency appears unlikely, at least in the foreseeable future, owing to weakness in China’s international political power and its economy, but the renminbi could develop into an Asian regional currency to some extent
The International Politics of Reactive Currency Statecraft: Japan’s Reaction to the Rise of the Chinese Renminbi
This study analyses how a state’s reactive currency statecraft – its strategic reaction to an international currency issued by a foreign state – is shaped, by devoting special attention to its broad foreign policy stance towards the state issuing that international currency, with a main empirical focus on the Japanese case with regard to the Chinese renminbi. This research argues that a state uses its policy related to a foreign international cur…
Civilisational values and political economy beyond the West: The significance of Korean debates at the time of its economic opening
This paper analyses the prominence of civilisational values in Korean political economy debates in the late 19th and early 20th centuries concerning their country’s dramatic opening to the world economy at the time. Korean supporters of economic opening saw this policy change as part of a wider embrace of Western civilisational values, while opponents argued that their country’s longstanding economic autarchy upheld traditional Neo-Confucian civi…
The Monetary and Financial Powers of States: Theory, Dataset, and Observations on the Trajectory of American Dominance
This project transforms international financial statistics into a form useful for global political analysis. The authors first theorise four distinct faces of a sovereign state's monetary and financial power resources: its international Creditor, Network, Currency, and Governance Capabilities. Each of these capabilities implies resources that incumbent political leaders potentially may employ to persuade, induce, or coerce others in pursuit of th…
The Impacts of Policy Infrastructures on the International Use of the Chinese Renminbi
Despite burgeoning research on the internationalization of the Chinese renminbi, there has been surprisingly little systematic analysis of how the renminbi is actually used in foreign markets. This study provides a cross-country analysis of renminbi use in offshore foreign exchange markets, with special attention to the effects of the cooperative policy measures adopted by China and foreign states to promote the renminbi’s international use. We f…
Chinese Domestic Politics and the Internationalization of the Renminbi
ONE OF THE MOST NOTABLE DEVELOPMENTS in contemporary international monetary affairs is undoubtedly the internationalization of the Chinese currency, the renminbi (RMB), which has progressed significantly since the global financial crisis of 2008–2009. Although RMB internationalization (henceforth RMBI) has slowed somewhat since mid-2015, and its future has as a consequence become more uncertain, the RMB’s position as a global payment currency did…
Cryptocurrencies and the IPE of money: An agenda for research
Despite the exploding interest in cryptocurrencies in the markets in recent years, the political economy study of them, in particular as money, remains underdeveloped. This seems quite surprising, given the otherwise extensive research on money and finance in the international political economy (IPE) literature. This essay calls for a greater engagement of IPE scholarship in analyzing cryptocurrencies as money. It argues first that theories of mo…
Central bank digital currencies and the global monetary system
Most existing international political economy research on central bank digital currencies focuses on a limited set of countries and policy objectives, which restricts understanding of how CBDC strategies vary across national contexts and what they imply for the global monetary system. This paper begins by examining the political economy surrounding CBDC adoption from a broad perspective encompassing most of the major potential effects of CBDCs. I…
Economics (9 works) · Political science (9 works) · China (7 works) · Politics (7 works) · Global Financial Crisis and Policies (6 works) · Currency (5 works) · Law (5 works) · Monetary economics (5 works) · Exchange rate (4 works) · International economics (4 works)