Participation by invitation only
This programme was updated on 4 September, 2012. (PDF)
Programme for workshop on
China’s financial markets and internationalization of Renminbi
Helsinki, 17-18 September, 2012
Organized by the Central Bank-Academia Network on the Chinese Economy
(BOFIT & CEA-Europe)
Bank of Finland, Auditorium, Rauhankatu 19 ( map) |
| Monday, September 17 |
9.30
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Opening words by Member of the Board, Dr. Seppo Honkapohja
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| 9.40-10.40 |
Invited lecture 1 on RMB internationalization
Academician Yu Yongding (Chinese Academy of Social Sciences) |
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| 10.40-12.00 Session1: Exchange rate arrangements 1 |
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- Christoph Fischer (Bundesbank): Currency blocks in the 21st century |
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- Heikki Oksanen (University of Helsinki): Re-pegging the renminbi to a basket: issues and implications |
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- Discussant: Hubert Fromlet (Linnaeus University) |
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| 12.00-13.00 |
Lunch break |
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| 13.30-14.20 Session2: Internationalization of RMB |
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- Yuning Gao (University of Cambridge): Renminbi internationalization as a response to the global imbalance |
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- Discussant: Mikael Mattlin (Finnish Institute of International Affairs) |
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| 14.25-15.45 Session 3: Exchange rate arrangements 2 |
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- Kefei You (London Metropolitan University) and Nicolas Sarantis (Cass Business School, City University London): Structural breaks and the equilibrium real effective exchange rate of China: A NATREX approach |
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- Yi David Wang (University of International Business and Economics, Beijing): Convertibility restriction in China's foreign exchange market and its impact on forward pricing |
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- Discussant: Iikka Korhonen (BOFIT, Bank of Finland) |
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| 16.00-17.00 |
Invited lecture 2 on RMB internationalization
Executive Director (Research), Dr. He Dong (Hong Kong Monetary Authority) |
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| Tuesday, September 18 |
| 9.00-11.00 Session 4: Monetary policy and China's financial system |
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- Alicia García-Herrero (BBVA), Eric Girardin (AMSE-GREQAM, Aix-Marseille University), Sandrin Lunven (GREQUAM, Aix-Marseille): Monetary policy transmission on the yield curve in China during the financial crisis |
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- Pierre Siklos (Wilfrid Laurier University): Prolonged reserves accumulation, credit books, asset prices and monetary policy in Asia |
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- Aaron Mehrotra (Bank for International Settlements): Removing excess liquidity from the financial system by issuing central bank securities –The case of China |
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- Discussants: Aaron Mehrotra (Bank for International Settlements) and Pierre Siklos (Wilfrid Laurel University) |
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| 11.00-12.00 |
Invited lecture 3 on interest rate liberalization in China
Director Xuechun Zhang (Research Institute, People's Bank of China) |
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| 12.00-13.00 |
Lunch break |
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| 13.00-14.00 |
Invited lecture 4 on the role of Hong Kong in RMB internationalization
Prof. Yin-Wong Cheung, City University of Hong Kong, |
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| 14.00-15.20 Session 5: Banking sector development |
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- Zuzana Fungacova (BOFIT, Bank of Finland), Pierre Pessarossi (University of Strasbourg), Laurent Weill (University of Strasbourg): Is Bank Competition Detrimental to Efficiency? Evidence from China |
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- Alicia García-Herrero (BBVA), Daniel Santabarbara (Banco de España): Is China’s banking sector promoting its economic development? An assessment of an unorthodox banking reform |
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- Discussant: Maggie Fu (University of Macao) |
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| 15.30-16.50 Session 6: China's financial markets |
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- Jeremy C. Goh, Fuwei Jiang and Jun Tu (Singapore Management University): Can US economic variables predict the Chinese stock market? |
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- Eric Girardin (AMSE-GREQAM, Aix-Marseille University) and Roselyne Joyeux (Macquarie University): Macro fundamentals as a source of stock market volatility in China: a GARCH-MIDAS approach |
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- Discussants: Tuuli Koivu (Bank of Finland) and Helinä Laakkonen (Bank of Finland) |
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| 17.00 End of the Workshop |