The Internationalization of the RMB, Capital Market Openness, and Financial Reforms in China /
Aizenman, Joshua.
The Internationalization of the RMB, Capital Market Openness, and Financial Reforms in China / Joshua Aizenman. - Cambridge, Mass. National Bureau of Economic Research 2015. - 1 online resource: illustrations (black and white); - NBER working paper series no. w20943 . - Working Paper Series (National Bureau of Economic Research) no. w20943. .
February 2015.
This paper provides an overview of Chinese financial and trade integration in recent decades, and the challenges facing China in the coming years. China had been a prime example of exported growth, benefiting from learning by doing, and by adopting foreign know-how, supported by a complex industrial policy. While the resultant growth has been spectacular, it comes with hidden but growing costs and distortions. The Chinese export-led growth path has been challenged by its own success, and the Global Financial Crisis forced China toward rebalancing, which is a work in progress. Reflecting on the internationalization of the CNY, one expects the rapid accelerating of the commercial internationalization of the CNY.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.
The Internationalization of the RMB, Capital Market Openness, and Financial Reforms in China / Joshua Aizenman. - Cambridge, Mass. National Bureau of Economic Research 2015. - 1 online resource: illustrations (black and white); - NBER working paper series no. w20943 . - Working Paper Series (National Bureau of Economic Research) no. w20943. .
February 2015.
This paper provides an overview of Chinese financial and trade integration in recent decades, and the challenges facing China in the coming years. China had been a prime example of exported growth, benefiting from learning by doing, and by adopting foreign know-how, supported by a complex industrial policy. While the resultant growth has been spectacular, it comes with hidden but growing costs and distortions. The Chinese export-led growth path has been challenged by its own success, and the Global Financial Crisis forced China toward rebalancing, which is a work in progress. Reflecting on the internationalization of the CNY, one expects the rapid accelerating of the commercial internationalization of the CNY.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.