Study on the factors influencing the RMB internationalization—from the perspective of international monetary functions
Bibliographic Data
| ID | 22188068 |
|---|---|
| Authors | Yanling Huang (0009-0005-0874-6231, Hodges University), Kanakarn Phanniphong (0000-0003-0569-0373, Rajamangala University of Technology Tawan-ok) |
| Year | 2025 |
| Volume | 9 |
| Issue | 1 |
| Pages | 10304 |
| Publication date | 2025-01-13 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Journal of Infrastructure Policy and Development (JOURNAL) |
| Journal identifiers | ISSN: 2572-7923 • E-ISSN: 2572-7931 |
| Publisher | EnPress Publisher (PUBLISHER) |
| DOI | 10.24294/jipd10304 |
| OpenAlex | W4406300104 |
| Language | EN |
| References cited | 2 |
Since 2022, global geopolitical conflicts have intensified, and there has been a notable increase in the international community's demand for currency diversification. This has created a new opportunity for the internationalization of the Renminbi (RMB). This paper examines the factors influencing the internationalization of the RMB, with a particular focus on its role as a unit of account, medium of exchange and store of value. These functions are considered in conjunction with the digital technological innovation represented by e-CNY. The methodology employed is based on the vector autoregression (VAR) model, Granger causality test and variance decomposition analysis. The Granger causality test indicates that digital technology innovation is not the primary driver of RMB internationalization at this juncture. The impulse response analysis and variance decomposition analysis revealed that the impact and direction of influence exerted by the various factors on RMB internationalization exhibit considerable discrepancies
Business · Economics · Exchange rate · International economics · International trade · Internationalization · Monetary economics · Renminbi · Computer Science · Global Political and Economic Relations
| Highly cited | No |
|---|