The internationalization of local currencies of emerging countries: the experience of the Mexican peso and the Chinese renminbi

Autores

DOI:

https://doi.org/10.33834/bkr.v4i1.146

Palavras-chave:

Emerging economies, international monetary system, currency internationalization

Resumo

Globalization introduced private and structural endogenous money (private monetary debts) as the main instrument of financial capital mobilization in the international financial system. A main consequence of this feature was the internalization of emerging economies currencies unfolding two successful experiences: the foreign exchange transactions related to the Mexican peso and the Chinese renminbi. The former currency internationalized as a result of the institutional changes unfolded in the Mexican economy and it’s insertion to the North American region (NAFTA); while the latter stemmed from a government strategy to influence the worldwide economy as a result of its accelerated economic growth and increased importance in the world economy. In this paper are discussed three main themes:  the way in which emerging economies currencies internationalized; the insertion of these economies in the international market, and the divergent developments of successful currency internationalization.

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Biografia do Autor

Noemi Levy, National Autonomous University of Mexico

Economic Faculty, Full-time professor

Referências

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Publicado

2018-09-17

Como Citar

Levy, N. (2018). The internationalization of local currencies of emerging countries: the experience of the Mexican peso and the Chinese renminbi. Brazilian Keynesian Review, 4(1), 14–34. https://doi.org/10.33834/bkr.v4i1.146

Edição

v. 4 n. 1 (2018)

Seção

Artigos

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