Arbeitspapier
Bilateral swap agreement and Renminbi settlement in cross-border trade
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.
- ISBN
-
978-952-323-298-3
- Sprache
-
Englisch
- Erschienen in
-
Series: BOFIT Discussion Papers ; No. 19/2019
- Klassifikation
-
Wirtschaft
International Monetary Arrangements and Institutions
Financial Aspects of Economic Integration
International Policy Coordination and Transmission
- Thema
-
RMB
Bilateral Swap Agreement
Cross-Border Trade
SWIFT
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Song, Ke
Xia, Le
- Ereignis
-
Veröffentlichung
- (wer)
-
Bank of Finland, Institute for Economies in Transition (BOFIT)
- (wo)
-
Helsinki
- (wann)
-
2019
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Song, Ke
- Xia, Le
- Bank of Finland, Institute for Economies in Transition (BOFIT)
Entstanden
- 2019
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