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SUMMARY:Local Currency Pricing by Firms: Evidence from China’s Renminbi (RMB) Reforms
DESCRIPTION:11:30 - 12:30Francine D. Blau Room 3.3.002B + 3.3.002C // This paper examines the impact of RMB internationalization reforms on invoicing currency choices of firms exporting to China. Using detailed French customs data spanning 2011-2017, it documents three novel stylized facts on RMB adoption and suggests a novel mechanism that drives the self-selection of firms into RMB invoicing. Additionally, it provides causal estimates of the impact of RMB use on firms’ export performance in China.
DTSTART;VALUE=DATE:20230920
DTEND;VALUE=DATE:20230920
DTSTAMP:20230807T220000Z
URL:https://www.diw.de/en/diw_01.c.879295.en/events/local_currency_pricing_by_firms__evidence_from_china___s_renminbi__rmb__reforms.html
ORGANIZER;CN=Jonas Hannane:mailto:jhannane@diw.de
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