Renminbi Internationalization
A Journey to Where
Bibliographic Data
| ID | 3884952 |
|---|---|
| Authors | Paul Bowles (0000-0001-7714-772X), Baotai Wang |
| Year | 2013 |
| Volume | 44 |
| Issue | 6 |
| Pages | 1363-1385 |
| Publication date | 2013-11-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Development and Change (JOURNAL) |
| Journal identifiers | ISSN: 0012-155X • E-ISSN: 1467-7660 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/dech.12058 |
| OpenAlex | W2163259475 |
| Language | EN |
| Citations received | 13 |
| References cited | 12 |
The renminbi is currently undergoing a process of internationalization which has raised fundamental questions about the evolution of the international monetary system and the dominance of the US dollar. In this article, we assess how far the renminbi has travelled down the internationalization road and analyse the possibilities for it challenging the role of the US dollar in the future. We utilize Cohen's () taxonomy to document the current dimensions of renminbi internationalization. Looking forward, we briefly summarize three common approaches to analysing currency internationalization, and propose a new approach. We argue that renminbi internationalization should be seen as a response to crises, first the Asian financial crisis and then the global financial crisis. As such, we argue that current internationalization has been driven by short-term problem solving rather than a coherent long-term strategy. The current path of RMB internationalization is best described as one of 'currency normalization' rather than 'currency dominance
Business · Capital account · Currency · Dominance (genetics) · Economics · Exchange rate · Financial crisis · Foreign exchange risk · International economics · International trade · Internationalization · Liberian dollar · Macroeconomics · Monetary economics · Renminbi · Reserve currency · Economic Theory and Policy · Finance · Global Financial Crisis and Policies · State Capitalism and Financial Governance
The political economy of currency internationalisation
China’s integration into the global financial system
Will the R enminbi become a reserve currency
Welfare and world money
China’s state-permeated market economy and its constraints to the internationalization of the renminbi
The International Politics of Reactive Currency Statecraft
The Role of London and Frankfurt in Supporting the Internationalisation of the Chinese Renminbi
Chaotic mélange
A novel pathway to power? Contestation and adaptation in China's internationalization of the RMB
Institutional change in Chinese cross-border finance
Internationalisation of the naira, institutional reforms, and a common currency for the Ecowas
How the state frames its engagement in renminbi internationalization
China
| Unique citing works | 13 |
|---|---|
| Citations per year | 1 |
| Citation span | 2013 - 2024 (12) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 12 |