The development of a RMB internationalization potential index

Marggie Ma; Ke Liu; Kin Keung Lai

doi:10.1109/CSO.2014.155

The development of a RMB internationalization potential index

Marggie Ma
, Ke Liu
, Kin Keung Lai

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review

Abstract

Existent indices for measuring RMB internationalization degree only reflect past and current situation of RMB's international use, and don't consider the fact that the financial openness of China is still considerably restricted. This paper aims at building a forward-looking index to measure RMB's potential in becoming internationalized currency, under the assumption that China will eventually unleash its control over financial openness. The compilation methodology relies on information provided by precedent currencies that have experienced an internationalization process historically to extract the relationship between underlying factors and internationalization potential. Calculation results show that RMB's internationalization potential surpassed Yen's in 2006, and has in 2012 attained the peak value Yen reached in 1991.

Original language	English
Title of host publication	Proceedings - 2014 7th International Joint Conference on Computational Sciences and Optimization, CSO 2014
Publisher	IEEE
Pages	459-463
ISBN (Print)	9781479953721
DOIs	https://doi.org/10.1109/CSO.2014.155
Publication status	Published - 14 Oct 2014
Event	7th International Joint Conference on Computational Sciences and Optimization, CSO 2014 - Beijing, China Duration: 4 Jul 2014 → 6 Jul 2014

Conference

Conference	7th International Joint Conference on Computational Sciences and Optimization, CSO 2014
Place	China
City	Beijing
Period	4/07/14 → 6/07/14

Research Keywords

Currency Internationalization Index
Financial Openness
RMB Internationalization

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10.1109/CSO.2014.155

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title = "The development of a RMB internationalization potential index",

abstract = "Existent indices for measuring RMB internationalization degree only reflect past and current situation of RMB's international use, and don't consider the fact that the financial openness of China is still considerably restricted. This paper aims at building a forward-looking index to measure RMB's potential in becoming internationalized currency, under the assumption that China will eventually unleash its control over financial openness. The compilation methodology relies on information provided by precedent currencies that have experienced an internationalization process historically to extract the relationship between underlying factors and internationalization potential. Calculation results show that RMB's internationalization potential surpassed Yen's in 2006, and has in 2012 attained the peak value Yen reached in 1991.",

keywords = "Currency Internationalization Index, Financial Openness, RMB Internationalization",

author = "Marggie Ma and Ke Liu and Lai, \{Kin Keung\}",

year = "2014",

month = oct,

day = "14",

doi = "10.1109/CSO.2014.155",

language = "English",

isbn = "9781479953721",

pages = "459--463",

booktitle = "Proceedings - 2014 7th International Joint Conference on Computational Sciences and Optimization, CSO 2014",

publisher = "IEEE",

address = "United States",

note = "7th International Joint Conference on Computational Sciences and Optimization, CSO 2014 ; Conference date: 04-07-2014 Through 06-07-2014",

}

Ma, M, Liu, K & Lai, KK 2014, The development of a RMB internationalization potential index. in Proceedings - 2014 7th International Joint Conference on Computational Sciences and Optimization, CSO 2014., 6923725, IEEE, pp. 459-463, 7th International Joint Conference on Computational Sciences and Optimization, CSO 2014, Beijing, China, 4/07/14. https://doi.org/10.1109/CSO.2014.155

The development of a RMB internationalization potential index. / Ma, Marggie; Liu, Ke; Lai, Kin Keung.
Proceedings - 2014 7th International Joint Conference on Computational Sciences and Optimization, CSO 2014. IEEE, 2014. p. 459-463 6923725.

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review

TY - GEN

T1 - The development of a RMB internationalization potential index

AU - Ma, Marggie

AU - Liu, Ke

AU - Lai, Kin Keung

PY - 2014/10/14

Y1 - 2014/10/14

N2 - Existent indices for measuring RMB internationalization degree only reflect past and current situation of RMB's international use, and don't consider the fact that the financial openness of China is still considerably restricted. This paper aims at building a forward-looking index to measure RMB's potential in becoming internationalized currency, under the assumption that China will eventually unleash its control over financial openness. The compilation methodology relies on information provided by precedent currencies that have experienced an internationalization process historically to extract the relationship between underlying factors and internationalization potential. Calculation results show that RMB's internationalization potential surpassed Yen's in 2006, and has in 2012 attained the peak value Yen reached in 1991.

AB - Existent indices for measuring RMB internationalization degree only reflect past and current situation of RMB's international use, and don't consider the fact that the financial openness of China is still considerably restricted. This paper aims at building a forward-looking index to measure RMB's potential in becoming internationalized currency, under the assumption that China will eventually unleash its control over financial openness. The compilation methodology relies on information provided by precedent currencies that have experienced an internationalization process historically to extract the relationship between underlying factors and internationalization potential. Calculation results show that RMB's internationalization potential surpassed Yen's in 2006, and has in 2012 attained the peak value Yen reached in 1991.

KW - Currency Internationalization Index

KW - Financial Openness

KW - RMB Internationalization

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DO - 10.1109/CSO.2014.155

M3 - RGC 32 - Refereed conference paper (with host publication)

SN - 9781479953721

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EP - 463

BT - Proceedings - 2014 7th International Joint Conference on Computational Sciences and Optimization, CSO 2014

PB - IEEE

T2 - 7th International Joint Conference on Computational Sciences and Optimization, CSO 2014

Y2 - 4 July 2014 through 6 July 2014

ER -

The development of a RMB internationalization potential index

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