典型文献
The Role of Institutions:A Cross-country Analysis of Renminbi Trading in Foreign Exchange Markets
文献摘要：
We explore how China's geographically targeted policies impact RMB overseas use individually or in combination.The policies include swap agreements,clearing banks,investment quotas,and direct trading between Chinese renminbi(RMB)and non-USD currencies.Adopting a fuzzy-set qualitative comparative analysis and using Bank of International Settlements cross-country data on foreign exchange markets,we find that institution building has lowered the barriers to international adoption of the RMB.Specifically,for countries economically close to China,high RMB trading is explained by either(ⅰ)having a clearing bank in the host market and direct quotations between the RMB and the local currency,or(ⅱ)being a financial center and having access to the Chinese capital market.This combination of policies is explained by the creation of(ⅰ)"trading posts"that provide RMB liquidity abroad,and(ⅱ)channels that allow actors to"recycle"offshore RMB funds.We triangulate our results with interviews conducted with senior People's Bank of China officials.
文献关键词：
中图分类号：
作者姓名：
Marina Zucker-Marques;Pedro Perfeito da Silva
作者机构：
Division on Globalization and Development Strategies,United Nations Conference on Trade and Development(UNCTAD),Switzerland;Political Science Department,Central European University,Austria
文献出处：
引用格式：
[1]Marina Zucker-Marques;Pedro Perfeito da Silva-.The Role of Institutions:A Cross-country Analysis of Renminbi Trading in Foreign Exchange Markets)[J].中国与世界经济（英文版）,2022(03):42-74
A类：
Renminbi,quotas,renminbi,quotations,triangulate
B类：
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AB值：
0.639316
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