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Global Stores of Value and the International Role of the Renminbi
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| Other Authors: | Gai, Prasanna [Other] |
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| Type of Resource: | E-Book |
| Language: | English |
| published: |
[S.l.]
SSRN
[2014]
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| 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 |
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| Item Description: | Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments August 27, 2014 erstellt |
| Physical Description: | 1 Online-Ressource (37 p) |
| DOI: | 10.2139/ssrn.2515546 |
| Access: | Open Access |