A comparative study of the foreign uses of the Chinese renminbi as an international currency(Fostering Joint International Research)

• Project/Area Number: 16KK0076
• Research Category: Fund for the Promotion of Joint International Research (Fostering Joint International Research)
• Allocation Type: Multi-year Fund
• Research Field: International relations
• Research Institution: National Graduate Institute for Policy Studies
• Principal Investigator: CHEY Hyoung-kyu 政策研究大学院大学, 政策研究科, 准教授 (20626999)
• Research Collaborator: Katada Saori University of Southern California, School of International Relations, Associate Professor
• Project Period (FY): 2016 – 2017
• Project Status: Completed (Fiscal Year 2017)
• Budget Amount: ¥10,140,000 (Direct Cost: ¥7,800,000、Indirect Cost: ¥2,340,000)
• Keywords: international currency / internationalization / renminbi / currency statecraft / Japan / the United States / the United Kingdom / currency / yuan / RMB internationalization / International Currency / Yuan / Renminbi

Outline of Final Research Achievements

This research project has produced four papers to date. The first one addresses Japan’s reaction to the international rise of the Chinese renminbi, and it has been published by New Political Economy, a prestigious journal in international political economy. A second paper analyzes the response of the United States to the internationalization of the renminbi, and it was presented at the international conference on Political Economy of Asia’s Monetary and Financial Landscape. A third paper compares the reactions of the US and Japan to renminbi internationalization, and was presented at the international conference on Monetary Conflict and Disorder in the New Age of Uncertainty. The final one conducts cross-country analysis of the impacts of policy infrastructures on the international use of the renminbi, and is currently under review by a major economics journal.

Research Products

• [Int'l Joint Research] University of Southern California(米国) (2017)
  • Year and Date: 2017-03-27
• [Journal Article] The International Politics of Reactive Currency Statecraft: Japan’s Reaction to the Rise of the Chinese Renminbi (2018)
  • Author(s): Chey Hyoung-kyu
  • Journal Title: New Political Economy Volume: 印刷中 Pages: 1-20
  • DOI: 10.1080/13563467.2018.1461820
  • Peer Reviewed
• [Presentation] Chey, Hyoung-kyuHow Does a Monetary Hegemon React to the Emergence of a New International Currency? The United States and the Chinese Renminbi (2018)
  • Author(s): Chey, Hyoung-kyu
  • Organizer: Political Economy of Asia’s Monetary and Financial Landscape
  • Int'l Joint Research / Invited
• [Presentation] The Chinese Renminbi and Japan: Suppressing the International Rise of a Rival’s Money? (2017)
  • Author(s): Chey, Hyoung-kyu
  • Organizer: International Studies Association International Conference
  • Int'l Joint Research
• [Funded Workshop] Political Economy of Asia’s Monetary and Financial Landscape (2018)