Economics at your fingertips  

The internationalisation of the RMB: New starts, jumps and tipping points

Jonathan Batten () and Peter Szilagyi ()

Emerging Markets Review, 2016, vol. 28, issue C, 221-238

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.

Keywords: Currency Internationalisation; Financial market development; Renminbi; RMB; Society for Worldwide Interbank Financial Telecommunications (SWIFT) (search for similar items in EconPapers)
JEL-codes: F02 F24 F31 F36 G15 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8) Track citations by RSS feed

Downloads: (external link)
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

Emerging Markets Review is currently edited by Jonathan A. Batten

More articles in Emerging Markets Review from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

Page updated 2019-10-09
Handle: RePEc:eee:ememar:v:28:y:2016:i:c:p:221-238