Finnish paper looks at Chinese currency swap agreements
Bilateral swap agreements increase settlement of trade transactions in renminbi – researchers
A working paper published by the Bank of Finland looks at how China’s renminbi bilateral swap agreements affect cross-border trade transactions.
In Bilateral swap agreement and renminbi settlement in cross-border trade, Ke Song and Le Xia use data from the payments system consortium Swift. This includes cross-border settlement messages of 91 countries or regions from October 2010 to November 2015.
The authors examine the data using a range of different models. They find that the signing of a
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