DocumentCode
2154705
Title
A Study on RMB as an International Currency
Author
Yang, Haijun ; Lou, Mengmeng
Author_Institution
Econ. & Manage. Sch., Beihang Univ., Beijing, China
fYear
2010
fDate
24-26 Aug. 2010
Firstpage
1
Lastpage
4
Abstract
This paper assesses the potential significance of the RMB as an international currency by drawing on the experiences of the other major currencies. Based on the work of Chinn and Jerrfey (2005), we first estimate an empirical relationship between currency shares of reserve holdings and main determinants. Using the empirical results we do a simulation about the potential share of the RMB in the total world reserves if it were to become fully convertible today under three different cases, the results suggest that the RMB´s potential as a reserve currency would be very large.
Keywords
foreign exchange trading; RMB currency; Renminbi currency; reserve currency; reserve holdings; Biological system modeling; Data models; Economic indicators; Exchange rates; Logistics; Size measurement;
fLanguage
English
Publisher
ieee
Conference_Titel
Management and Service Science (MASS), 2010 International Conference on
Conference_Location
Wuhan
Print_ISBN
978-1-4244-5325-2
Electronic_ISBN
978-1-4244-5326-9
Type
conf
DOI
10.1109/ICMSS.2010.5576447
Filename
5576447
Link To Document