Influence of Renminbi Internationalization on China’s Monetary Policy Effects: A Theoretical Analysis

2021 ◽  
Vol 13 (8) ◽  
pp. 14
Author(s):  
Huiguan Ding ◽  
Asli Ogunc ◽  
Dale Funderburk ◽  
Shiyou Li ◽  
Zhebie Shi
Keyword(s):  
Monetary Policy ◽  
Open Economy ◽  
Analytical Framework ◽  
Securities Markets ◽  
Republic Of China ◽  
Policy Effects ◽  
The People ◽  
The World ◽  
The Impact ◽  
Rmb Internationalization

For more than a decade, the People’s Republic of China has sought to expand the degree of internationalization of its official currency. In recent decades, China has become the world’s second largest economy, as well as the world’s largest trading nation, and its securities markets are among the largest in the world. Today, the RMB is among the top five as a world payments currency. One of the significant costs of achieving higher degrees of internationalization of a country’s currency is the complicating impact it has on the efficacy and effect of that country’s domestic monetary policy.  However, what is the nature and extent of that complicating impact? This paper employs an IS-LM model of an open economy as an analytical framework, embeds an RMB internationalization factor into that model. Specifically, with this model we examine the impact of RMB internationalization on the effects of China’s monetary policy. 

scholarly journals PERANAN KEBIJAKAN MONETER DALAM MENJAGA STABILITAS PEREKONOMIAN INDONESIA SEBAGAI RESPON TERHADAP FLUKTUASI PEREKONOMIAN DUNIA

2007 ◽  
Vol 9 (2) ◽  
pp. 145-177
Author(s):  
M. Maulana Al Arif ◽  
Achmad Tohari
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Interest Rate ◽  
Open Economy ◽  
Small Open Economy ◽  
Monthly Data ◽  
Vector Autoregressive ◽  
The World ◽  
The Exchange Rate ◽  
The Impact

This paper analyzes the impact of the inflation and the world interest rate on the Indonesian economy and the effectiveness of the Indonesian central bank policy to adopt the domestic macroeconomic fluctuation.Assuming Indonesia as a small-open economy, the Stuctural Vector Autoregressive Model is utilized on the monthly data during the periode of 1999: 1 – 2004: 12 covering the main domestic macroeconomic indicator (output, price, money supply, interest rate and the exchange rate) and the world oil price and world interest rate as the disturbance source.The analysis provides 2 main results, first, the international variables do have impacts on the domestic variables fluctuation, implying the fragility of the domestic economy due to the external shock, second, the monetary policy is effective on supporting the economic growth and stabilizing the price level. However, the Bank Indonesia policy to stabilize the international shock via the exchange rate channel, contributes to a higher impact of the international shock on domestic interest rate.Keywords: monetary policy, business cycle, SVARJEL Classification: E52, E32, C32, F41

scholarly journals Does Demographic Change Affect the Current Account? A Reconsideration

2012 ◽  
Vol 12 (4) ◽  
pp. 1850272
Author(s):  
Michael Graff ◽  
Kam Ki Tang ◽  
Jie Zhang
Keyword(s):  
Current Account ◽  
Open Economy ◽  
Analytical Framework ◽  
Population Ageing ◽  
Current Account Balance ◽  
The World ◽  
The One ◽  
The Impact ◽  
New Framework ◽  
The Current Account

This paper re-examines the impact of demographic factors on the current account balance. To this end, we develop an analytical framework that is more general than the one commonly used in the literature in three aspects. First, it accounts for the facts that the world current account balance must be equal to zero. Second, a bigger economy will have greater impacts on others, but be influenced less by them. Third, a more open economy will have greater impacts on others and at the same time be more readily influenced by them. We then confront two alternative empirical specifications based on both the new and the conventional framework with a panel of data. In contrast to the findings based on the conventional framework, our results with the new framework indicate that population ageing does not appear to have discernible impacts on the current account balance.

The impact of humanitarian aid on conflict development

1998 ◽  
Vol 38 (323) ◽  
pp. 319-333 ◽  
Author(s):  
Pierre Perrin
Keyword(s):  
Medical Care ◽  
Sharp Increase ◽  
Humanitarian Aid ◽  
Humanitarian Organizations ◽  
The People ◽  
The World ◽  
Local Services ◽  
The Impact

The proliferation of crises around the world has led to a sharp increase in the scale of humanitarian aid required to meet the vital needs of the people affected by them for food, water, medical care and shelter. Humanitarian organizations can either meet those needs directly or support local services engaged in the same work. In most cases, both approaches are used.

scholarly journals RIGHT TO FOOD FOR ALL IN INDIA: MYTH OR REALITY

2018 ◽  
pp. 178-189
Author(s):  
Grishma Soni ◽  
Prachi V. Motiyani
Keyword(s):  
Carbon Dioxide Emission ◽  
Right To Life ◽  
Human Right ◽  
Right To Food ◽  
Complex Issue ◽  
The People ◽  
The World ◽  
The Government ◽  
The Right ◽  
The Impact

As we all know that food is the basic Human necessity, without which no one can survive. Making food available for all the people in the world is now days becoming a complex issue. The availability food is decreasing as a result of increase in population that will result in food insecurity or malnutrition. Indian constitution interprets the right to food as part of right to life, which is fundamental human right. Change in climate, the impact of globalization, Global Warming, Carbon dioxide emission from fuel etc. also affects the right to food of many people. This paper examines the situation prevailing in India and looks into the obligations and initiatives by the government of India to ensure Right to Food and make suggestions for addressing the issue and examines the possible way to make the scheme workable to achieve food security.

Impact of Information and Communication Readiness on the Tourism Industry

2021 ◽  
pp. 186-201
Author(s):  
Woon Leong Lin ◽  
Bee Lian Song
Keyword(s):  
Fixed Effects ◽  
Panel Data Analysis ◽  
Tourism Industry ◽  
Policy Effects ◽  
Travel And Tourism ◽  
Economic Progress ◽  
The World ◽  
Information And Communication ◽  
World Economic ◽  
The Impact

This study examines the impact of ICT readiness on the tourism industry and how it leads to growing competitiveness by deploying three-panel data analysis techniques (pooled OLS, fixed effects, dynamic GMM) with 177 nations for the period 2011 to 2019. ICT readiness is gauged using the World Economic Forum's Travel and Tourism Competitiveness Index, whereas tourism's contribution towards economic progress is gauged by overall international traveler arrival. The observations indicate that ICT readiness causes a statistically significant effect on tourism's role in economic progress. Tourism policy effects and guidelines for future works are discussed as well.

Coping with Firms

2020 ◽  
pp. 293-326
Author(s):  
Jean-Philippe Robé
Keyword(s):  
Climate Change ◽  
Open Economy ◽  
Negative Externalities ◽  
Firm Level ◽  
Economic Decisions ◽  
World Power ◽  
The World ◽  
Full Picture ◽  
Accounting Rules ◽  
The Impact

The Chapter addresses the need to cope with firms as participants in the World Power System. « Agency theory » has led to biased firm governance. The bias extends to accounting rules which do not provide a full picture of the impact of a firm’s operations and actually prevents firms from adapting their ways to the requirements of today’s predicament. Addressing world issues such as climate change requires the making of decisions to change our ways of producing, travelling and consuming. In an open economy, the competition among large business firms derivatively leads to a race to the bottom among States to offer firms accommodating legal environments. This limits the States’ ability to internalize negative externalities and to redistribute income. Given the inherent defects of our divided State System, it is at the firm level that governmental rules must be developed so that firms consider the consequences of their activities to a larger extend than they do today. Economic decisions within organizations are made on the basis of the accounting of their operations. To change the decisions they make, we need to amend the ways organizations account for their operations.

Detection and monitoring of the asymptotic COVID-19 patients using IoT devices and sensors

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Rajeesh Kumar N.V. ◽  
Arun M. ◽  
Baraneetharan E. ◽  
Stanly Jaya Prakash J. ◽  
Kanchana A. ◽  
...  
Keyword(s):  
New Technologies ◽  
Specific Treatment ◽  
Lung Damage ◽  
World Health ◽  
Smart Devices ◽  
The Internet ◽  
Content Type ◽  
The People ◽  
The World ◽  
The Impact

Purpose Many investigations are going on in monitoring, contact tracing, predicting and diagnosing the COVID-19 disease and many virologists are urgently seeking to create a vaccine as early as possible. Even though there is no specific treatment for the pandemic disease, the world is now struggling to control the spread by implementing the lockdown worldwide and giving awareness to the people to wear masks and use sanitizers. The new technologies, including the Internet of things (IoT), are gaining global attention towards the increasing technical support in health-care systems, particularly in predicting, detecting, preventing and monitoring of most of the infectious diseases. Similarly, it also helps in fighting against COVID-19 by monitoring, contract tracing and detecting the COVID-19 pandemic by connection with the IoT-based smart solutions. IoT is the interconnected Web of smart devices, sensors, actuators and data, which are collected in the raw form and transmitted through the internet. The purpose of this paper is to propose the concept to detect and monitor the asymptotic patients using IoT-based sensors. Design/methodology/approach In recent days, the surge of the COVID-19 contagion has infected all over the world and it has ruined our day-to-day life. The extraordinary eruption of this pandemic virus placed the World Health Organization (WHO) in a hazardous position. The impact of this contagious virus and scarcity among the people has forced the world to get into complete lockdown, as the number of laboratory-confirmed cases is increasing in millions all over the world as per the records of the government. Findings COVID-19 patients are either symptomatic or asymptotic. Symptomatic patients have symptoms such as fever, cough and difficulty in breathing. But patients are also asymptotic, which is very difficult to detect and monitor by isolating them. Originality/value Asymptotic patients are very hazardous because without knowing that they are infected, they might spread the infection to others, also asymptotic patients might be having very serious lung damage. So, earlier prediction and monitoring of asymptotic patients are mandatory to save their life and prevent them from spreading.

Does Culture Matter? A Cross-Cultural Study of Executives’ Choice, Decisiveness, and Risk Adjustment in International Marketing

1988 ◽  
Vol 52 (4) ◽  
pp. 81-95 ◽  
Author(s):  
David K. Tse ◽  
Kam-hon Lee ◽  
Ilan Vertinsky ◽  
Donald A. Wehrung
Keyword(s):  
Decision Making ◽  
Hong Kong ◽  
Open Economy ◽  
International Marketing ◽  
International Markets ◽  
People’S Republic Of China ◽  
People's Republic Of China ◽  
Home Culture ◽  
Republic Of China ◽  
The Impact

The authors investigate whether a manager's home culture significantly influences his or her international marketing decisions. They also examine whether the impact of home culture diminishes in an open economy with intense exposure to international markets, giving way to a process of “globalization.” Decision making in four simulated international marketing situations was studied with executives from the People's Republic of China, Hong Kong, and Canada. The findings confirm that home culture has predictable, significant effects on the decision making of the executives from the People's Republic of China and Canada. Chinese executives from Hong Kong were influenced by a combination of Western and Chinese cultural norms.

Monetary Policy in the Conditions of Influence of Negative Factors of the World Economy

2019 ◽  
Vol 7 (1) ◽  
pp. 8-13 ◽  
Author(s):  
Ольга Николайчук ◽  
Olga Nikolaychuk ◽  
Д. Кадырова ◽  
D. Kadyrova
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
World Economy ◽  
Exchange Rate Regime ◽  
Global Market ◽  
Energy Prices ◽  
Consumer Prices ◽  
The World ◽  
The Impact ◽  
Negative Factors

The article analyzes the monetary policy in the context of exogenous shocks of the external sector. The Bank of Russia and Rosstat use official statistics for 2000–2018. The parameters of the action of negative factors of the world economy apply the conditions of world trade and changes in the exchange rate of national currencies. The graphic form analyzes the susceptibility of macroeconomic indicators to changes in the external market and their dependence on fluctuations in energy prices. The influence of consumer prices and inflation on the monetary policy of the Central Bank is considered. The analysis allows us to conclude about the relationship of the effect of events from processes in the global market. It was concluded that, despite these risks, there are optimal ways of conducting monetary policy, which remain the targeting of inflation and the effect of the floating exchange rate regime of the national currency. For effective results in reducing the dependence of macroeconomic processes on the impact of external shocks, coordinated activities of all branches of economic power, and their effective macro-prudential and fiscal policies are important.

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