Offshore Renminbi Trading: Findings from the 2013 Triennial Central Bank Survey
Offshore Renminbi Trading: Findings from the 2013 Triennial Central Bank Survey
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离岸人民币交易：2013 年三年一度的央行调查结果
DOI：
10.2139/ssrn.2819936
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发表时间：
2016
期刊：
影响因子：
--
通讯作者：
Y. Cheung
中科院分区：
文献类型：
--
作者：
M. Yiu;Y. Cheung
根据国际清算银行（Bank for International Settlements）发布的“三年一次的央行调查”（Thirty-Annual Central Bank Survey）的外汇交易数据，我们发现离岸人民币（RMB）交易活动受到东道国经济特征和与中国的联系的影响。例如，离岸人民币交易的发生取决于经济的GDP，金融发展阶段，股票市值和与中国的自由贸易协定。当一个经济体进行离岸人民币交易时，交易量受到其外汇市场规模、股票市值以及通过FDI流动与中国的双边联系的影响。
Using foreign exchange transaction data reported in the Triennial Central Bank Survey by the Bank for International Settlements, we find that offshore renminbi (RMB) trading activity is affected by both the host economy's characteristics and links with China. For instance, the occurrence of offshore RMB trading is determined by the economy's GDP, stage of financial development, equity market capitalization and free trade agreement with China. When an economy hosts offshore RMB trading, the trading volume is affected by the size of its foreign exchange market, equity market capitalization, as well as the bilateral link with China through FDI flows.