The internationalisation of the RMB

New starts, jumps and tipping points

Jonathan A Batten, Peter G Szilagyi

Research output: Contribution to journalArticleResearchpeer-review

8 Citations (Scopus)

Abstract

We investigate the process of currency internationalisation of the Chinese Renminbi (RMB). Aggregated cross-border data provided by the Society for Worldwide Interbank Financial Telecommunications (SWIFT) allows better measurement of the role played by a currency in trade and settlement. RMB transactions are significant and increasing but remain concentrated in key financial centres. Analysis using an asset pricing framework shows that the footprint of Chinese corporations in international markets has at times been significant, with the size of these transactions prompting many to reassess the likely pace of RMB internationalisation and its usage as an alternate vehicle currency.
Original languageEnglish
Pages (from-to)221-238
Number of pages18
JournalEmerging Markets Review
Volume28
DOIs
Publication statusPublished - 1 Sep 2016

Keywords

  • Currency Internationalisation
  • Financial market development
  • Renminbi
  • RMB
  • Society for Worldwide Interbank Financial Telecommunications (SWIFT)

Cite this

Batten, Jonathan A ; Szilagyi, Peter G. / The internationalisation of the RMB : New starts, jumps and tipping points. In: Emerging Markets Review. 2016 ; Vol. 28. pp. 221-238.
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The internationalisation of the RMB : New starts, jumps and tipping points. / Batten, Jonathan A; Szilagyi, Peter G.

In: Emerging Markets Review, Vol. 28, 01.09.2016, p. 221-238.

Research output: Contribution to journalArticleResearchpeer-review

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