Renminbi internationalisation and China's financial development

Robert McCauley

BIS Quarterly Review, 2011

Abstract: For now, effective capital controls allows the Chinese authorities to retain regulated deposit and lending rates, quantitative credit guidance and bond-market rationing. Relaxing capital controls would put these policies at risk. Reserve requirements can be extended to bank inflows from the offshore market, but only at a cost.

JEL-codes: E4 E5 F3 G1 O16 P2 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (16)

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Related works:
Journal Article: Renminbi internationalisation and China’s financial development (2013)
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