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Global Stores of Value and the International Role of the Renminbi

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Bibliographic Details
Other Authors: Gai, Prasanna [Other]
Type of Resource: E-Book
Language: English
[S.l.] SSRN [2014]
Series: CIFR Paper
Source: Verbunddaten SWB
Lizenzfreie Online-Ressourcen
Summary: We explore the conditions under which a financial asset emerges as a global store of value and can co-exist with a pre-existing (incumbent) store of value. In our model the acceptability of an asset as a global store is driven by the issuing region's financial development, growth rate, degree of capital liberalization, and by strategic complementarities across investors vying to purchase and sell financial assets. Our model contributes to the debate on the internationalization of the renminbi, supporting the view that deep financial reforms should precede capital account liberalization to sustain the renminbi's international status over the medium term
Item Description: Nach Informationen von SSRN wurde die urspr├╝ngliche Fassung des Dokuments August 27, 2014 erstellt
Physical Description: 1 Online-Ressource (37 p)
DOI: 10.2139/ssrn.2515546
Access: Open Access