2018 Fiscal Year Final Research Report
Internationalization of the Chinese Renminbi: A Political Study of Currency Internationalization
| Project/Area Number |
26380206
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Research Field |
International relations
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| Research Institution | National Graduate Institute for Policy Studies |
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Principal Investigator |
CHEY Hyoung-kyu 政策研究大学院大学, 政策研究科, 准教授 (20626999)
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| Project Period (FY) |
2014-04-01 – 2019-03-31
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| Keywords | international currency / renminbi / yuan / internationalization / China / political economy / international money / international finance |
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| Outline of Final Research Achievements |
This research project has carried out a systematic political economy study of currency internationalization, focusing on the case of the Chinese renminbi. It has several significant findings with regard to both the domestic and the international politics surrounding renminbi internationalization. As to the domestic politics, this research project has examined the issues of who has been in the driving seat promoting internationalization of the renminbi, why this actor has been pushing it, and how it has managed to acquire support from other domestic actors. With regard to the international politics, this research project has addressed how foreign actors have coped with renminbi internationalization, through in-depth qualitative analysis focusing largely on major countries - including the United States, Japan, the United Kingdom and South Korea - as well as quantitative cross-country research. The research outcomes have been published in major journals in international political economy.
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| Free Research Field |
International political economy
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| Academic Significance and Societal Importance of the Research Achievements |
The research outcomes have made substantial contributions to the literature on currency internationalization, in particular by shedding new light on the roles of foreign actors in the internationalization of a currency and by reassessing the benefits and costs of currency internationalization.
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