The internationalization of the Renminbi and the evolution of China’s monetary policy
Ramaa Vasudevan ()
No 1810, Working Papers from New School for Social Research, Department of Economics
This paper explores the evolution of monetary policy in the context of the distinct path China and the PBoC have adopted in fostering the international role of the renminbi. Instead of focusing on the PBoC’s negotiation of the impossible trinity of flexible exchange rates, capital mobility and independent monetary policy, the paper highlights the challenges the PBoC faces as it promotes the use renminbi, in international lending in particular, while simultaneously seeking to contain and discipline the inherent instability and potentially disruptive logic of finance.
Keywords: China; monetary policy; internationalization of renminbi; impossible trinity (search for similar items in EconPapers)
JEL-codes: F33 F36 G28 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-cna, nep-mon, nep-opm and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
http://www.economicpolicyresearch.org/econ/2018/NSSR_WP_102018.pdf First version, 2018 (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:new:wpaper:1810
Access Statistics for this paper
More papers in Working Papers from New School for Social Research, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Mark Setterfield ().