Global turnover in non-deliverable forwards (NDFs) continues to rise in aggregate. But the paths of NDF markets have diverged across currencies: renminbi internationalisation has led to rapid displacement of NDFs by deliverable forwards, while the NDF market has retained or even gained in...

This paper studies the ongoing diffusion of renminbi trading across the globe, the first such research of an international currency. It analyses the distribution in offshore renminbi trading in 2013 and 2016, using comprehensive data from the Triennial Central Bank Survey of Foreign Exchange and...

This paper analyses various facets of the economic impact of globalisation in EMEs, focussing in particular on international trade and migration. It covers both aggregate (growth and inflation) and distributional (inequality, sectoral concentration) effects. The paper concludes with a discussion...

This paper discusses different facts and trends with regard to globalisation in emerging market economies (EMEs). It focuses primarily on the real (as opposed to financial) side of the economy over the last 2-3 decades, and highlights important similarities and differences across countries with...

This is the first book to collect academic studies examining issues related to the potential internationalization of the Renminbi. It considers policy implications, documents the rising regional importance of the Renminbi and discusses key issues in the increasing use of the Renminbi in...