The International Political Economy Of China S Exchange Rate Policy Making

Author : Zhaohui Wang
Publisher : Springer Nature
Page : 207 pages
File Size : 52,9 Mb
Release : 2021-01-21
Category : Business & Economics
ISBN : 9789813345782

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The International Political Economy of China’s Exchange Rate Policy Making by Zhaohui Wang Pdf

This book examines the international political economy of China’s exchange rate policy making from theoretical and empirical perspectives. It identifies the limitations in the existing Economics studies on the RMB exchange rate and the research gap of the Comparative Political Economy (CPE) and International Political Economy (IPE) approaches to exchange rate politics. The author develops a three-level game framework for China’s exchange rate policy making based on revision and synthesis of the existing CPE and IPE approaches, which provides a richer portrait of the dynamism and complexity of China’s exchange rate policy making. The book has applied the three-level game framework to empirically analyzing China’s exchange rate policy making under the Hu-Wen administration. The book also discusses some further exploration of China’s exchange rate policy in the Xi era and comparative case study of exchange rate policy making. It is a timely and rigorous study on the role that international and domestic politics play in forging China’s exchange rate policy making in the twenty-first century.

Author : Zhaohui Wang
Publisher : Unknown
Page : 0 pages
File Size : 42,5 Mb
Release : 2021
Category : Electronic
ISBN : 9813345799

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The International Political Economy of China's Exchange Rate Policy Making by Zhaohui Wang Pdf

This book examines the international political economy of China's exchange rate policy making from theoretical and empirical perspectives. It identifies the limitations in the existing Economics studies on the RMB exchange rate and the research gap of the Comparative Political Economy (CPE) and International Political Economy (IPE) approaches to exchange rate politics. The author develops a three-level game framework for China's exchange rate policy making based on revision and synthesis of the existing CPE and IPE approaches, which provides a richer portrait of the dynamism and complexity of China's exchange rate policy making. The book has applied the three-level game framework to empirically analyzing China's exchange rate policy making under the Hu-Wen administration. The book also discusses some further exploration of China's exchange rate policy in the Xi era and comparative case study of exchange rate policy making. It is a timely and rigorous study on the role that international and domestic politics play in forging China's exchange rate policy making in the twenty-first century.

Author : Ka Zeng
Publisher : Edward Elgar Publishing
Page : 480 pages
File Size : 42,7 Mb
Release : 2019
Category : BUSINESS & ECONOMICS
ISBN : 9781786435064

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Handbook on the International Political Economy of China by Ka Zeng Pdf

This book examines the processes, evolution and consequences of China’s rapid integration into the global economy. Through analyses of Beijing’s international economic engagement in areas such as trade, investment, finance, sustainable development and global economic governance, it highlights the forces shaping China’s increasingly prominent role in the global economic arena. Chapters explore China’s behavior in global economic governance, the interests and motivations underlying China’s international economic initiatives and the influence of politics, including both domestic politics and foreign relations, on the country’s global economic footprint.

Author : J. Jay Choi,Michael R. Powers,Xiaotian Tina Zhang
Publisher : Emerald Group Publishing
Page : 424 pages
File Size : 45,8 Mb
Release : 2016-09-02
Category : Business & Economics
ISBN : 9781785609572

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The Political Economy of Chinese Finance by J. Jay Choi,Michael R. Powers,Xiaotian Tina Zhang Pdf

Volume 17 of International Finance Review focusses on a variety of issues relating to the political economy of Chinese finance.

Author : Leong H. Liew,Harry X. Wu
Publisher : Edward Elgar Publishing
Page : 272 pages
File Size : 42,6 Mb
Release : 2007
Category : China
ISBN : UCSD:31822034446633

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The Making of China's Exchange Rate Policy by Leong H. Liew,Harry X. Wu Pdf

This book examines the major economic and political factors influencing China's exchange rate policies from the foundation of the People's Republic to the present. It considers how national economic and political priorities, international influences, domestic institutional interests and the new constraints imposed by China's rapidly globalising post-Mao economy determine exchange rate policy. The authors argue that China's exchange rate decisions were not made simply in response to external pressures, rather that they were formed on the basis of domestic assessments of domestic circumstances to serve domestic interests. They go on to illustrate that such decisions are made on the basis of what policymakers perceive are the nation's best interests, and thus constitute dynamic interplay between national priorities and the interests of institutional and non-institutional actors in the policy arena. Fulfilling the demand for further research on how China formulates exchange rate policy, this book will strongly appeal to a wide-ranging audience including: students, academics and researchers with an interest in political economy, Asian studies, international relations, comparative politics, international business and international economics and finance. Policymakers and bankers will also find much to interest them in this book.

Author : Eric Helleiner,Jonathan Kirshner
Publisher : Cornell University Press
Page : 289 pages
File Size : 51,6 Mb
Release : 2014-09-08
Category : Political Science
ISBN : 9780801454660

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The Great Wall of Money by Eric Helleiner,Jonathan Kirshner Pdf

As an economic superpower, China has become an increasingly important player in the international monetary system. Its foreign exchange reserves are the largest in the world and its exchange rate policy has become a major subject of international economic diplomacy. The internationalization of the renminbi (RMB) raises critical questions in international policy circles: What kinds of power is China acquiring in international monetary relations? What are the priorities of the Chinese government? What explains its preferences? In The Great Wall of Money, a distinguished group of contributors addresses these questions from distinct perspectives, revealing the extent to which China’s choices, and global monetary affairs, will be shaped by internal political factors and affect world politics. The RMB is a likely competitor for the dollar in the next couple of decades; its emergence as an important international currency would have substantial effects on the balance of power between the United States and China. By illuminating the politics of China’s international monetary relations, this book provides a timely account of the global economy, the role of the renminbi in international relations, and the trajectory of China’s continuing ascendency in the coming decades.

Author : David A. Steinberg
Publisher : Cornell University Press
Page : 320 pages
File Size : 50,6 Mb
Release : 2015-11-16
Category : Political Science
ISBN : 9780801456497

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Demanding Devaluation by David A. Steinberg Pdf

Exchange rate policy has profound consequences for economic development, financial crises, and international political conflict. Some governments in the developing world maintain excessively weak and "undervalued" exchange rates, a policy that promotes export-led development but often heightens tensions with foreign governments. Many other developing countries "overvalue" their exchange rates, which increases consumers' purchasing power but often reduces economic growth. In Demanding Devaluation, David Steinberg argues that the demands of powerful interest groups often dictate government decisions about the level of the exchange rate.Combining rich qualitative case studies of China, Argentina, South Korea, Mexico, and Iran with cross-national statistical analyses, Steinberg reveals that exchange rate policy is heavily influenced by a country's domestic political arrangements. Interest group demands influence exchange rate policy, and national institutional structures shape whether interest groups lobby for an undervalued or an overvalued rate. A country's domestic political system helps determine whether it undervalues its exchange rate and experiences explosive economic growth or if it overvalues its exchange rate and sees its economy stagnate as a result.

Author : Morris Goldstein
Publisher : Peterson Institute
Page : 125 pages
File Size : 40,6 Mb
Release : 2009
Category : China
ISBN : 9780881325409

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The Future of China's Exchange Rate Policy by Morris Goldstein Pdf

Author : Yin-Wong Cheung,Kenneth K Chow,Fengming Qin
Publisher : World Scientific
Page : 276 pages
File Size : 49,5 Mb
Release : 2016-11-22
Category : Business & Economics
ISBN : 9789814675512

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The RMB Exchange Rate by Yin-Wong Cheung,Kenneth K Chow,Fengming Qin Pdf

Over the past two decades, China's robust economic performance has propelled it to the world stage. At the same time, the world has increasingly scrutinized China's economic policies and activities. One of the hotly contested issues is China's foreign exchange rate policy. China's current reform and modernization policies to convert its centrally planned economy towards a market-driven one could hardly draw on experiences of other countries. This book provides a succinct and up-to-date account of China's exchange rate policy including the currency undervaluation debate and the internationalization of its currency. It begins with a brief history of the modern China's foreign exchange rate policy. In particular, it highlights the three Chinese policy characteristics; namely, independence, controllability and practicability, and graduality. This prologue helps to interpret China's policy on its currency, the renminbi (RMB); including its recent initiatives to promote the international use of its currency. The book covers the basic theoretical and empirical issues that are relevant for determining the equilibrium value of the RMB exchange rate and, hence, its degree of misalignment. Then it evaluates the controversy surrounding the RMB valuation debate, and highlights the sensitivity of empirical estimates of the degree of misalignment to alternative presumptions. The book also examines the timely issues related to China's recent efforts in promoting the use of its currency in the global financial market. After describing the background of China's recent efforts to internationalize the RMB, the book a) discusses the main promotional policies, including the recent Qianhai project and Shanghai Free Trade Zone initiative, b) evaluates the current status of the offshore RMB market, the level of international use of the RMB and the admission to the SDR basket, and c) assesses the future prospects of the RMB to be a global currency.

Author : C. Randall Henning
Publisher : Columbia University Press
Page : 122 pages
File Size : 49,5 Mb
Release : 2008-06-01
Category : Business & Economics
ISBN : 9780881324891

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Accountability and Oversight of US Exchange Rate Policy by C. Randall Henning Pdf

The dispute over Chinese exchange rate policy within the United States has generated a series of legislative proposals to restrict the discretion of the US Treasury Department in determining currency manipulation and to reform the department's accountability to the Congress. This study reviews the Treasury's reports to the Congress on exchange rate policy—introduced by the 1988 trade act—and Congress's treatment of them. It finds that the accountability process has often not worked well in practice: The coverage of the reports has sometimes been incomplete and not provided a sufficient basis for congressional oversight. Nor has Congress always performed its own role well, holding hearings on less than half of the reports and overlooking important substantive issues. Several recommendations can improve guidance to the Treasury, standards for assessment, and congressional oversight. These include (1) refining the criteria used to determine currency manipulation and writing them into law; (2) explicitly harnessing US decisions on manipulation to the IMF's rules on exchange rates; (3) clarifying the general objectives of US exchange rate policy; (4) reaffirming the mandate to seek international macroeconomic and currency cooperation; and (5) institutionalizing multicommittee oversight of exchange rate policy by Congress. As they develop legislation targeting manipulation, furthermore, legislators should not lose sight of the broader purposes of the 1988 act relating to the effective valuation of the dollar, the current account, and their ramifications for the US economy overall.

Author : Domenico Lombardi,Hongying Wang
Publisher : McGill-Queen's Press - MQUP
Page : 442 pages
File Size : 44,9 Mb
Release : 2016-10-17
Category : Political Science
ISBN : 9781928096160

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Enter the Dragon by Domenico Lombardi,Hongying Wang Pdf

China has experienced a remarkable transformation since the 1990s. It now boasts the second-largest — some would argue the largest — economy in the world, having evolved from a closed economy into the leading goods-trading nation. China’s economic rise has given it increasing prominence in international monetary and financial governance, but it also exposes China to new risks associated with its integration into the global financial system. Drawing insights from economics and political science, Enter the Dragon: China in the International Financial System takes a broad conceptual approach and tackles the questions that accompany China’s ascendance in international finance: What are the motivations and consequences of China’s effort to internationalize the renminbi? What is the political logic underlying China’s foreign financial policy? What forces have shaped China’s preferences and capacities in global financial governance? Enter the Dragon contributes to the ongoing debate over China’s political interests, its agenda for economic and financial cooperation, and the domestic and international implications of its economic rise. Bringing together experts from both inside and outside of China, this volume argues that China’s rise in the international financial system is a highly complex and political process, and can only be understood by incorporating analysis of domestic and international political economy.

Author : Jeffry A. Frieden
Publisher : Princeton University Press
Page : 318 pages
File Size : 51,8 Mb
Release : 2014-12-28
Category : Business & Economics
ISBN : 9781400865345

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Currency Politics by Jeffry A. Frieden Pdf

The politics surrounding exchange rate policies in the global economy The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates. Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil. With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.

Author : Sujian Guo,Baogang Guo
Publisher : Challenges Facing Chinese Political Development
Page : 258 pages
File Size : 48,5 Mb
Release : 2007
Category : Political Science
ISBN : UOM:39015070747525

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Challenges Facing Chinese Political Development by Sujian Guo,Baogang Guo Pdf

Examining the challenges of Chinese political development from a holistic perspective, each of the authors emphasizes a particular dimension of political culture, political economy, foreign policy, and environmental and social challenges.

Author : Stephen Bell,Hui Feng
Publisher : Harvard University Press
Page : 360 pages
File Size : 51,7 Mb
Release : 2013-06-10
Category : Business & Economics
ISBN : 9780674073616

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The Rise of the People’s Bank of China by Stephen Bell,Hui Feng Pdf

With $4.5 trillion in total assets, the People’s Bank of China now surpasses the U.S. Federal Reserve as the world’s biggest central bank. The Rise of the People’s Bank of China investigates how this increasingly authoritative institution grew from a Leninist party-state that once jealously guarded control of banking and macroeconomic policy. Relying on interviews with key players, this book is the first comprehensive and up-to-date account of the evolution of the central banking and monetary policy system in reform China. Stephen Bell and Hui Feng trace the bank’s ascent to Beijing’s policy circle, and explore the political and institutional dynamics behind its rise. In the early 1990s, the PBC—benefitting from political patronage and perceptions of its unique professional competency—found itself positioned to help steer the Chinese economy toward a more liberal, market-oriented system. Over the following decades, the PBC has assumed a prominent role in policy deliberations and financial reforms, such as fighting inflation, relaxing China’s exchange rate regime, managing reserves, reforming banking, and internationalizing the renminbi. Today, the People’s Bank of China confronts significant challenges in controlling inflation on the back of runaway growth, but it has established a strong track record in setting policy for both domestic reform and integration into the global economy.

Author : Thomas Oatley,W. Kindred Winecoff
Publisher : Edward Elgar Publishing
Page : 507 pages
File Size : 40,5 Mb
Release : 2014-06-27
Category : Business & Economics
ISBN : 9780857938374

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Handbook of the International Political Economy of Monetary Relations by Thomas Oatley,W. Kindred Winecoff Pdf

This extensive Handbook provides an in-depth exploration of the political economy dynamics associated with the international monetary and financial systems. Leading experts offer a fresh take on research into the interaction between system structure, t