Towards a floating RMB exchange rate regime.
The main challenge of China’s current exchange rate regime is that with large and frequent interventions, the RMB exchange rate cannot adequately respond to the changes in economic fundamentals. This will lead to unilateral exchange rate expectations and large-scale capital inflows or outflows. In a...
| Publicado en: | China Economic Journal Vol. 11; no. 1; pp. 53 - 61 |
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| Formato: | Artículo |
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Taylor & Francis Ltd
Feb2018
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=128887537&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 128887537 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 17538963 5EVV jtl: China Economic Journal issn: 17538963 maglogo: N pubinfo: dt: Feb2018 vid: 11 iid: 1 pid: 377 pub: Taylor & Francis Ltd artinfo: ui: 128887537 10.1080/17538963.2018.1411070 ppf: 53 ppct: 8 formats: tig: atl: Towards a floating RMB exchange rate regime. aug: au: Bin, Zhang affil: CF 40 su: China Capital movements Foreign exchange market Renminbi Foreign exchange rates Hard currencies sug: subj: China Capital movements Foreign exchange market Renminbi Foreign exchange rates Hard currencies keyword: capital flow currency basket Exchange rate regime RMB capital flow currency basket Exchange rate regime RMB ab: The main challenge of China’s current exchange rate regime is that with large and frequent interventions, the RMB exchange rate cannot adequately respond to the changes in economic fundamentals. This will lead to unilateral exchange rate expectations and large-scale capital inflows or outflows. In addition, large and frequent foreign exchange market interventions have a negative impact on economic structural optimisation, RMB internationalisation, and foreign investment. Two strategies can be used to introduce a floating exchange rate system: one is a free-floating exchange rate, and the other is wide range fluctuation against a basket of currencies. The latter is a transitional option before introduction of the former: a free-floating exchange rate. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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