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2006•ForecastingOpen access

Currency Substitution: The Research of Economic Transition in China

Cheng Li

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Abstract

This paper taking the actual economy of China into account,according to the annual data of our country's main macroeconomic data during 1990～2003.The result shows that,at present,individuals of China have more conspicuous motives to convert RMB into foreign currency;the effect which the motive of investment has on the currency substitution is not very remarkable;At the same time,with the trend of open capital account,the rise of the currency substitution is possible.

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What this paper is about

This paper taking the actual economy of China into account,according to the annual data of our country's main macroeconomic data during 1990～2003.The result shows that,at present,individuals of China have more conspicuous motives to convert RMB into foreign currency;the effect which the motive of investment has on the currency substitution is not very remarkable;At the same time,with the trend of open capital account,the rise of the currency substitution is possible.

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Available abstract

This paper taking the actual economy of China into account,according to the annual data of our country's main macroeconomic data during 1990～2003.The result shows that,at present,individuals of China have more conspicuous motives to convert RMB into foreign currency;the effect which the motive of investment has on the currency substitution is not very remarkable;At the same time,with the trend of open capital account,the rise of the currency substitution is possible.

Key concepts: Currency substitution, Renminbi, Economics, Currency, China, Substitution (logic), Investment (military), International economics

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