Journal of East China Normal University (Philosophy and Social Sciences) >

2006 , Vol. 38 >Issue 2: 113 - 118

DOI: https://doi.org/10.16382/j.cnki.1000-5579.2006.02.018

On the Appreciative Pressure on RMB and China's Capital Account Management

  • Sheng-xin RAN
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  • School of Business, East China Normal Uniersity, Shanghai 200062, China

Received date: 2005-11-25

  Online published: 2006-03-30

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Abstract

This paper develops a new analytic framework by modifying the game theory framework about currency crisis, i.e., the Metz model.With this new framework, the author puts forward some proposals in order to remove the appreciative pressure on RMB confronting China.Since the financial system in China is fragile and the pressure exists contemporaneously, China's capital account opening should be prudently managed.

Key words： the appreciative pressure on RMB; capital account management; the Metz model

Cite this article

Sheng-xin RAN . On the Appreciative Pressure on RMB and China's Capital Account Management[J]. Journal of East China Normal University (Philosophy and Social Sciences), 2006 , 38(2) : 113 -118 . DOI: 10.16382/j.cnki.1000-5579.2006.02.018

References

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2 Christina E. Metz, 2003, Private and Public Information in Self-fulfilling Currency Crises, Economics Working Paper Archive at WUSTL in ItsSeries International Finance with No. 0309006.
3 Aghion, Philippe, Philippe Bacchetta and Abhijit Banerjee, 2004, Financial Development and the Instability of Open Economies, NBERWorking Paper 10246.
4 Edison , Hali J. , Michael Klein , Luca Ricci , Torsten Slok . , 2004, "Capital Account Liberalization and Economic Performance: Survey andSynthesis", IMF Staff Paper, Vol.51 No.2, paper 220- 256.
5 冉生欣, 2005, 《人民币管理浮动后的东亚汇率协调》, 《国际金融研究》 第11期。,55-61.
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