Author Description

It Should Come As No Surprise To Keen Observers Of The Global Economy That The International Role Of The Renminbi Will Gradually Rise Over Time. With China Already Being The Fourth Largest Economy And The Third Largest Trading Partner In The World, There Are Indications Of An Increasing Use Of The Renminbi Outside Mainland China. This Book Is A Collection Of Ten Papers Examining International Experiences Of Currency Internationalization And The Implications For The Renminbi. The Book Is Divided Into Two Parts. The Four Papers In The First Part Consider The Experiences Of A Number Of Economies In The External Use Of Their Currencies. The Second Part Of The Monograph Documents The Already Rising Regional Importance Of The Renminbi And Discusses Key Issues In The Process Of An Increasing Use Of The Renminbi In International Trade And Finance, Including: Prospects And Determinants Of Renminbi Internationalization Financial Market Developments And Renminbi Internationalization Monetary Policy And The External Use Of The Renminbi. Global Roles Of Currencies -- External Use Of The African Rand -- Internationalizing A Currency: The Case Of The Australian Dollar -- Foreign Exchange Liberalization And Its Implications: The Case Of The Korean Won -- The Potential Of The Renminbi As An International Currency -- Pros And Cons Of International Use Of The Rmb For China -- Renminbi Internationalization: Empirical And Policy Analysis -- The Effects Of The Internationalization Of Renminbi On The Finance Industry Of China -- Internationalization Of The Renminbi And Its Implications For Monetary Policy -- Impact Of The Renminbi Exchange Rate On Asian Currencies. Edited By Wensheng Peng And Chang Shu. Includes Bibliographical References And Index.