The RMB exchange rate: past, current, and future
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
New Jersey ; London ; Singapore ; Beijng ; Shanghai ; Hong Kong ; Taipei ; Chennai ; Tokyo
World Scientific
[2017]
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis Inhaltsverzeichnis |
| Beschreibung: | Includes index |
| Beschreibung: | xii, 264 Seiten Illustrationen, Diagramme |
| ISBN: | 9789814675499 |
Internformat
MARC
| LEADER | 00000nam a2200000 c 4500 | ||
|---|---|---|---|
| 001 | BV044028625 | ||
| 003 | DE-604 | ||
| 005 | 20190214 | ||
| 007 | t | ||
| 008 | 170203s2017 xxua||| |||| 00||| eng d | ||
| 010 | |a 016026892 | ||
| 020 | |a 9789814675499 |9 978-981-4675-49-9 | ||
| 035 | |a (OCoLC)975363970 | ||
| 035 | |a (DE-599)BVBBV044028625 | ||
| 040 | |a DE-604 |b ger |e rda | ||
| 041 | 0 | |a eng | |
| 044 | |a xxu |c XD-US | ||
| 049 | |a DE-355 |a DE-20 |a DE-11 |a DE-521 | ||
| 050 | 0 | |a HG3978 | |
| 082 | 0 | |a 332.4/50951 |2 23 | |
| 084 | |a QG 860 |0 (DE-625)141524: |2 rvk | ||
| 100 | 1 | |a Cheung, Yin-Wong |d ca. 20./21. Jh. |0 (DE-588)128835001 |4 aut | |
| 245 | 1 | 0 | |a The RMB exchange rate |b past, current, and future |c Yin-Wong Cheung (City University of Hong Kong, Hong Kong SAR, People's Rebublic of China), Kenneth K Chow (Hong Kong Institute for Monetary Research, Hong Kong SAR, People's Rebublic of China), Fengming Qin (Shandong University, Jinan, People's Republic of China) |
| 264 | 1 | |a New Jersey ; London ; Singapore ; Beijng ; Shanghai ; Hong Kong ; Taipei ; Chennai ; Tokyo |b World Scientific |c [2017] | |
| 264 | 4 | |c © 2017 | |
| 300 | |a xii, 264 Seiten |b Illustrationen, Diagramme | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 500 | |a Includes index | ||
| 650 | 4 | |a Wirtschaftspolitik | |
| 650 | 4 | |a Renminbi | |
| 650 | 4 | |a Foreign exchange |z China | |
| 650 | 0 | 7 | |a Renminbi Yuan |0 (DE-588)1044255552 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Wirtschaftspolitik |0 (DE-588)4066493-4 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Internationalisierung |0 (DE-588)4162106-2 |2 gnd |9 rswk-swf |
| 651 | 4 | |a China |x Economic policy |y 2000- | |
| 651 | 7 | |a China |0 (DE-588)4009937-4 |2 gnd |9 rswk-swf | |
| 689 | 0 | 0 | |a China |0 (DE-588)4009937-4 |D g |
| 689 | 0 | 1 | |a Renminbi Yuan |0 (DE-588)1044255552 |D s |
| 689 | 0 | 2 | |a Internationalisierung |0 (DE-588)4162106-2 |D s |
| 689 | 0 | 3 | |a Wirtschaftspolitik |0 (DE-588)4066493-4 |D s |
| 689 | 0 | |C b |5 DE-604 | |
| 700 | 1 | |a Chow, Kenneth K. |0 (DE-588)1128731622 |4 aut | |
| 700 | 1 | |a Qin, Fengming |0 (DE-588)132781697 |4 aut | |
| 856 | 4 | 2 | |m LoC Fremddatenuebernahme |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029435944&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 856 | 4 | 2 | |m Digitalisierung UB Regensburg - ADAM Catalogue Enrichment |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029435944&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-029435944 | ||
Datensatz im Suchindex
| _version_ | 1804177030004080640 |
|---|---|
| adam_text | THE RMB EXCHANGE RATE
/ CHEUNG, YIN-WONGYYEAUTHOR
: 2016
TABLE OF CONTENTS / INHALTSVERZEICHNIS
INTRODUCTION
THE CHINESE ECONOMY
EXCHANGE RATE POLICY
RMB VALUATION
RMB INTERNATIONALIZATION, I
RMB INTERNATIONALIZATION, II
CONCLUDING REMARKS
DIESES SCHRIFTSTUECK WURDE MASCHINELL ERZEUGT.
Contents
Preface ix
About the Authors xi
Chapter 1 Introduction 1
Chapter 2 The Chinese Economy 9
2.1 The Post-1978 Era 10
2.2 Blistering Growth 13
2.3 Trade Giant 19
2.4 Foreign Direct Investment 32
2.4.1 Inward flows 32
2.4.2 Outward flows 39
2.5 Participation in the Global Economy 42
2.6 Conclusion 46
Chapter 3 Exchange Rate Policy 49
3.1 The Pre-reform Era 52
3.1.1 1948-1952 52
3.1.2 1953-1972 54
3.1.3 1973-1978 56
v
vi The RMB Exchange Rate
3.2 The Post-Open-Door Policy Era 57
3.2.1 1979-1993 57
3.2.2 1994-2005 62
3.2.3 2005-2015 65
3.3 Some Reflections 69
Chapter 4 RMB Valuation 73
4.1 Modeling Equilibrium Exchange Rate 75
4.1.1 Theoretical considerations 76
4.1.2 Empirical considerations 78
4.2 Estimating the Degree of RMB Misalignment 79
4.2.1 Deviations from average and trend estimates 81
4.2.2 Fundamental equilibrium exchange rate 90
4.2.3 Penn effect estimates 95
4.2.3.1 Sampling uncertainty 98
4.2.3.2 Data uncertainty 99
4.2.3.3 Economic or non-economic reasons 103
4.3 A Few Recent Studies 106
4.3.1 Schnatz (2011) 106
4.3.2 Bergsten and Gagnon (2012) 107
4.3.3 Dekle and Ungor (2013) 108
4.3.4 Fischer and Hossfeld (2014) 109
4.4 Discussions 110
Chapters RMB Internationalization: I 113
5.1 Joining the Global Financial Community 114
5.2 International Currency: Functionalities
and Determinants 117
5.2.1 Functionalities 118
(a) Medium of exchange 119
(b) Store of value 119
(c) Unit of account 120
5.2.2 Determinants 120
(a) Size matters 120
(b) Financial sector 121
Contents vii
(c) Confidence 122
(d) Network externalities 123
(e) Capital account convertibility 123
5.3 Promoting the International Use of the RMB 124
5.3.1 Bilateral RMB currency swap agreements 124
5.3.2 RMB trade settlement 130
5.3.3 Direct foreign exchange trading 132
5.3.4 Offshore RMB markets 134
5.3.5 The offshore RMB center in Hong Kong 136
(a) CNH, the offshore RMB 138
(b) Offshore RMB deposits 141
(c) RMB trade settlement in Hong Kong 143
(d) Dim sum bonds 145
(e) RMB-denominated equity 149
(f) Other RMB-denominated products 151
5.3.6 A global offshore RMB network 153
(a) Local offshore RMB clearing 153
(b) Not invited 156
(c) Where does Hong Kong stand? 158
5.3.7 Other measures 160
(a) RMB qualified foreign institutional
investor initiative 161
(b) Shanghai-Hong Kong stock connect 162
Chapter 6 RMB Internationalization: II 167
6.1 Developments in the Onshore Market 168
6.1.1 The Qianhai project 168
6.1.2 The Shanghai free trade zone 170
6.1.3 Other free trade zones 174
6.1.4 The domestic bond market 175
6.1.5 Implications for offshore markets 182
6.2 Why Internationalize the RMB? 185
6.3 The Level of International Use of the RMB 188
6.3.1 Global foreign exchange market 189
6.3.2 Invoicing/settlement/pricing currency 192
viii The RMB Exchange Rate
6.3.3 Global reserve currency 194
(a) RMB as a reserve currency 195
(b) The special drawing right (SDR) club 200
6.3.4 Other functions 204
6.3.5 Renminbi globalization index 205
6.4 Looking Forward 206
6.4.1 Offshore RMB markets 207
6.4.2 Domestic market reforms 208
6.4.3 Economic factors against political
considerations 209
Chapter 7 Concluding Remarks 211
7.1 Experiences 212
7.2 Domestic Challenges 214
7.3 International Dimensions 224
7.4 China’s Currency in the Global Financial System 226
References 231
Index 257
|
| any_adam_object | 1 |
| author | Cheung, Yin-Wong ca. 20./21. Jh Chow, Kenneth K. Qin, Fengming |
| author_GND | (DE-588)128835001 (DE-588)1128731622 (DE-588)132781697 |
| author_facet | Cheung, Yin-Wong ca. 20./21. Jh Chow, Kenneth K. Qin, Fengming |
| author_role | aut aut aut |
| author_sort | Cheung, Yin-Wong ca. 20./21. Jh |
| author_variant | y w c ywc k k c kk kkc f q fq |
| building | Verbundindex |
| bvnumber | BV044028625 |
| callnumber-first | H - Social Science |
| callnumber-label | HG3978 |
| callnumber-raw | HG3978 |
| callnumber-search | HG3978 |
| callnumber-sort | HG 43978 |
| callnumber-subject | HG - Finance |
| classification_rvk | QG 860 |
| ctrlnum | (OCoLC)975363970 (DE-599)BVBBV044028625 |
| dewey-full | 332.4/50951 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.4/50951 |
| dewey-search | 332.4/50951 |
| dewey-sort | 3332.4 550951 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>02632nam a2200541 c 4500</leader><controlfield tag="001">BV044028625</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">20190214 </controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">170203s2017 xxua||| |||| 00||| eng d</controlfield><datafield tag="010" ind1=" " ind2=" "><subfield code="a">016026892</subfield></datafield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">9789814675499</subfield><subfield code="9">978-981-4675-49-9</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)975363970</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV044028625</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rda</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="044" ind1=" " ind2=" "><subfield code="a">xxu</subfield><subfield code="c">XD-US</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-355</subfield><subfield code="a">DE-20</subfield><subfield code="a">DE-11</subfield><subfield code="a">DE-521</subfield></datafield><datafield tag="050" ind1=" " ind2="0"><subfield code="a">HG3978</subfield></datafield><datafield tag="082" ind1="0" ind2=" "><subfield code="a">332.4/50951</subfield><subfield code="2">23</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">QG 860</subfield><subfield code="0">(DE-625)141524:</subfield><subfield code="2">rvk</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Cheung, Yin-Wong</subfield><subfield code="d">ca. 20./21. Jh.</subfield><subfield code="0">(DE-588)128835001</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">The RMB exchange rate</subfield><subfield code="b">past, current, and future</subfield><subfield code="c">Yin-Wong Cheung (City University of Hong Kong, Hong Kong SAR, People's Rebublic of China), Kenneth K Chow (Hong Kong Institute for Monetary Research, Hong Kong SAR, People's Rebublic of China), Fengming Qin (Shandong University, Jinan, People's Republic of China)</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">New Jersey ; London ; Singapore ; Beijng ; Shanghai ; Hong Kong ; Taipei ; Chennai ; Tokyo</subfield><subfield code="b">World Scientific</subfield><subfield code="c">[2017]</subfield></datafield><datafield tag="264" ind1=" " ind2="4"><subfield code="c">© 2017</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">xii, 264 Seiten</subfield><subfield code="b">Illustrationen, Diagramme</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">Includes index</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Wirtschaftspolitik</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Renminbi</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Foreign exchange</subfield><subfield code="z">China</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Renminbi Yuan</subfield><subfield code="0">(DE-588)1044255552</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Wirtschaftspolitik</subfield><subfield code="0">(DE-588)4066493-4</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Internationalisierung</subfield><subfield code="0">(DE-588)4162106-2</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="651" ind1=" " ind2="4"><subfield code="a">China</subfield><subfield code="x">Economic policy</subfield><subfield code="y">2000-</subfield></datafield><datafield tag="651" ind1=" " ind2="7"><subfield code="a">China</subfield><subfield code="0">(DE-588)4009937-4</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="689" ind1="0" ind2="0"><subfield code="a">China</subfield><subfield code="0">(DE-588)4009937-4</subfield><subfield code="D">g</subfield></datafield><datafield tag="689" ind1="0" ind2="1"><subfield code="a">Renminbi Yuan</subfield><subfield code="0">(DE-588)1044255552</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2="2"><subfield code="a">Internationalisierung</subfield><subfield code="0">(DE-588)4162106-2</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2="3"><subfield code="a">Wirtschaftspolitik</subfield><subfield code="0">(DE-588)4066493-4</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2=" "><subfield code="C">b</subfield><subfield code="5">DE-604</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Chow, Kenneth K.</subfield><subfield code="0">(DE-588)1128731622</subfield><subfield code="4">aut</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Qin, Fengming</subfield><subfield code="0">(DE-588)132781697</subfield><subfield code="4">aut</subfield></datafield><datafield tag="856" ind1="4" ind2="2"><subfield code="m">LoC Fremddatenuebernahme</subfield><subfield code="q">application/pdf</subfield><subfield code="u">http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029435944&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA</subfield><subfield code="3">Inhaltsverzeichnis</subfield></datafield><datafield tag="856" ind1="4" ind2="2"><subfield code="m">Digitalisierung UB Regensburg - ADAM Catalogue Enrichment</subfield><subfield code="q">application/pdf</subfield><subfield code="u">http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029435944&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA</subfield><subfield code="3">Inhaltsverzeichnis</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-029435944</subfield></datafield></record></collection> |
| geographic | China Economic policy 2000- China (DE-588)4009937-4 gnd |
| geographic_facet | China Economic policy 2000- China |
| id | DE-604.BV044028625 |
| illustrated | Illustrated |
| indexdate | 2024-07-10T07:41:35Z |
| institution | BVB |
| isbn | 9789814675499 |
| language | English |
| lccn | 016026892 |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-029435944 |
| oclc_num | 975363970 |
| open_access_boolean | |
| owner | DE-355 DE-BY-UBR DE-20 DE-11 DE-521 |
| owner_facet | DE-355 DE-BY-UBR DE-20 DE-11 DE-521 |
| physical | xii, 264 Seiten Illustrationen, Diagramme |
| publishDate | 2017 |
| publishDateSearch | 2017 |
| publishDateSort | 2017 |
| publisher | World Scientific |
| record_format | marc |
| spelling | Cheung, Yin-Wong ca. 20./21. Jh. (DE-588)128835001 aut The RMB exchange rate past, current, and future Yin-Wong Cheung (City University of Hong Kong, Hong Kong SAR, People's Rebublic of China), Kenneth K Chow (Hong Kong Institute for Monetary Research, Hong Kong SAR, People's Rebublic of China), Fengming Qin (Shandong University, Jinan, People's Republic of China) New Jersey ; London ; Singapore ; Beijng ; Shanghai ; Hong Kong ; Taipei ; Chennai ; Tokyo World Scientific [2017] © 2017 xii, 264 Seiten Illustrationen, Diagramme txt rdacontent n rdamedia nc rdacarrier Includes index Wirtschaftspolitik Renminbi Foreign exchange China Renminbi Yuan (DE-588)1044255552 gnd rswk-swf Wirtschaftspolitik (DE-588)4066493-4 gnd rswk-swf Internationalisierung (DE-588)4162106-2 gnd rswk-swf China Economic policy 2000- China (DE-588)4009937-4 gnd rswk-swf China (DE-588)4009937-4 g Renminbi Yuan (DE-588)1044255552 s Internationalisierung (DE-588)4162106-2 s Wirtschaftspolitik (DE-588)4066493-4 s b DE-604 Chow, Kenneth K. (DE-588)1128731622 aut Qin, Fengming (DE-588)132781697 aut LoC Fremddatenuebernahme application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029435944&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029435944&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Cheung, Yin-Wong ca. 20./21. Jh Chow, Kenneth K. Qin, Fengming The RMB exchange rate past, current, and future Wirtschaftspolitik Renminbi Foreign exchange China Renminbi Yuan (DE-588)1044255552 gnd Wirtschaftspolitik (DE-588)4066493-4 gnd Internationalisierung (DE-588)4162106-2 gnd |
| subject_GND | (DE-588)1044255552 (DE-588)4066493-4 (DE-588)4162106-2 (DE-588)4009937-4 |
| title | The RMB exchange rate past, current, and future |
| title_auth | The RMB exchange rate past, current, and future |
| title_exact_search | The RMB exchange rate past, current, and future |
| title_full | The RMB exchange rate past, current, and future Yin-Wong Cheung (City University of Hong Kong, Hong Kong SAR, People's Rebublic of China), Kenneth K Chow (Hong Kong Institute for Monetary Research, Hong Kong SAR, People's Rebublic of China), Fengming Qin (Shandong University, Jinan, People's Republic of China) |
| title_fullStr | The RMB exchange rate past, current, and future Yin-Wong Cheung (City University of Hong Kong, Hong Kong SAR, People's Rebublic of China), Kenneth K Chow (Hong Kong Institute for Monetary Research, Hong Kong SAR, People's Rebublic of China), Fengming Qin (Shandong University, Jinan, People's Republic of China) |
| title_full_unstemmed | The RMB exchange rate past, current, and future Yin-Wong Cheung (City University of Hong Kong, Hong Kong SAR, People's Rebublic of China), Kenneth K Chow (Hong Kong Institute for Monetary Research, Hong Kong SAR, People's Rebublic of China), Fengming Qin (Shandong University, Jinan, People's Republic of China) |
| title_short | The RMB exchange rate |
| title_sort | the rmb exchange rate past current and future |
| title_sub | past, current, and future |
| topic | Wirtschaftspolitik Renminbi Foreign exchange China Renminbi Yuan (DE-588)1044255552 gnd Wirtschaftspolitik (DE-588)4066493-4 gnd Internationalisierung (DE-588)4162106-2 gnd |
| topic_facet | Wirtschaftspolitik Renminbi Foreign exchange China Renminbi Yuan Internationalisierung China Economic policy 2000- China |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029435944&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029435944&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT cheungyinwong thermbexchangeratepastcurrentandfuture AT chowkennethk thermbexchangeratepastcurrentandfuture AT qinfengming thermbexchangeratepastcurrentandfuture |
Es ist kein Print-Exemplar vorhanden.
Inhaltsverzeichnis