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September 20, 2023

Brown Bag Seminar Industrial Economics

Local Currency Pricing by Firms: Evidence from China’s Renminbi (RMB) Reforms

Date

September 20, 2023
11:30 - 12:30
Francine D. Blau Room 3.3.002B + 3.3.002C

Speakers

Sonali Chowdhry, DIW Berlin

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.

Speaker

Sonali Chowdhry, DIW Berlin

Topics: Firms

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