Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/212927 
Autor:innen: 
Erscheinungsjahr: 
2019
Schriftenreihe/Nr.: 
BOFIT Discussion Papers No. 19/2019
Verlag: 
Bank of Finland, Institute for Economies in Transition (BOFIT), Helsinki
Zusammenfassung: 
This research empirically examines the impact of China's Renminbi (RMB) bilateral swap agree-ments (BSAs) on the usage of the currency in cross-border trade transactions. By using a unique dataset from SWIFT including cross-border settlement messages of 91 countries/regions between October 2010 and November 2015, we confirm that the signing of a RMB BSA helps to increase the number, the value and the proportion of RMB settlement in cross-border trade. Our results are robust with respect to the choice of different models, including multi-level mixed model, two-stage regression model, and difference-in-difference model. In addition to justifying the effectiveness of China's BSA-signing strategy to promote the RMB usage in trade settlement, our results clarify that the signing of those RMB BSAs is not purely for China's political ends as some scholars claim.
Schlagwörter: 
RMB
Bilateral Swap Agreement
Cross-Border Trade
SWIFT
JEL: 
F33
F36
F42
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
978-952-323-298-3
Dokumentart: 
Working Paper

Datei(en):
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