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The People's Republic of China's Financial Markets: Are They Deep and Liquid Enough for Renminbi Internationalization?

dc.contributor.authorPrince Christian Cruz
dc.contributor.authorYuning Gao
dc.contributor.authorLei Lei Song
dc.date.accessioned2015-04-10T10:17:30Z
dc.date.available2015-04-10T10:17:30Z
dc.date.issued2014-04-15
dc.identifier.urihttp://hdl.handle.net/11540/3964
dc.description.abstractDomestic financial market development is a key determinant of a currency’s international status, and financial depth and market liquidity are two essential attributes for an international currency. This paper discusses the status of the People’s Republic of China’s (PRC) financial markets and their depth and liquidity conditions. The paper also compares the PRC’s financial markets with those in developed and emerging economies, contemporaneously and historically. The paper finds that the PRC’s financial markets are not as deep and liquid as those in developed economies, and are much less so than those with international currencies. To support the internationalization of the renminbi, the PRC needs to remove several major obstacles to deepen its financial markets and improve their liquidity conditions.
dc.languageEnglish
dc.publisherAsian Development Bank
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.titleThe People's Republic of China's Financial Markets: Are They Deep and Liquid Enough for Renminbi Internationalization?
dc.typeWorking Papers
dc.subject.expertProject Evaluation & Review Technique
dc.subject.expertOperations Evaluation
dc.subject.expertEvaluation
dc.subject.expertWorld Trade
dc.subject.expertTrade Volume
dc.subject.expertTrade Promotion
dc.subject.expertTrade Flows
dc.subject.expertTrade Development
dc.subject.expertPatterns Of Trade
dc.subject.adbResources evaluation
dc.subject.adbInput output analysis
dc.subject.adbImport volume
dc.subject.adbExport volume
dc.subject.adbExport Development
dc.subject.adbEconomic agreements
dc.subject.adbInternational market
dc.subject.adbImport policy
dc.subject.adbExport policy
dc.subject.naturalParticipatory monitoring and evaluation
dc.subject.naturalParticipative management
dc.subject.naturalForeign trade routes
dc.subject.naturalTrade routes
dc.subject.naturalForeign trade and employment
dc.title.seriesADBI Working Paper Series
dc.title.volume477
dc.contributor.imprintAsian Development Bank
oar.themeEvaluation
oar.themeTrade
oar.adminregionEast Asia Region
oar.countryPeople's Republic of China
oar.identifierOAR-004015
oar.authorCruz, Prince Christian
oar.authorGao, Yuning
oar.authorSong, Lei Lei
oar.importtrue
oar.googlescholar.linkpresenttrue


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  • ADBI Working Papers
    The Asian Development Bank Institute (ADBI) Working Paper series is a continuation of the formerly named Discussion Paper series which began in January 2003. The numbering of the papers continued without interruption or change. ADBI was established in 1997 in Tokyo, Japan, to help build capacity, skills, and knowledge related to poverty reduction and other areas that support long-term growth and competitiveness in developing economies in Asia and the Pacific.

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