Author information:
Tamás Gerőcs: Centre for Economic and Regional Studies, Junior Research Fellow. E-mail: gerocs.tamas@krtk.mta.hu
Abstract:
This paper examines the spread of the international use of the renminbi (yuan), with particular focus on, the multipolarisation of the international monetary system. Additionally, the study addresses the question of how the spread of a new currency in international financial markets influences the external financing opportunities of small open economies (e.g. Hungary). The author sets out two possible scenarios in relation to the spread of the Chinese renminbi (yuan) and, in terms of the development of the entire international financial system, he points out that over the next years it will be of crucial importance which model the Chinese economic policy will move toward, and if there is a road that leads from the one to the other.
Cite as (APA):
Gerőcs, T. (2017). Challenges of Internationalisation from the Perspective of the Chinese Currency. Financial and Economic Review, 16(Special Issue), 170–185. https://hitelintezetiszemle.mnb.hu/en/tamas-gerocs
Column:
Essay
Journal of Economic Literature (JEL) codes:
G28, G15, H12, H63, N25
Keywords:
renminbi (yuan), hegemony, multipolarity, international financial system, convertibility
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