Participation by invitation only Programme for workshop on China’s financial markets and internationalization of RenminbiHelsinki, 17-18 September, 2012
Organized by the Central Bank-Academia Network on the Chinese Economy
(BOFIT & CEA-Europe)
Bank of Finland, Auditorium, Rauhankatu 19
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Monday, September 17 | |
9.30 | Opening words by Member of the Board, Dr. Seppo Honkapohja |
9.40-10.40 | Invited lecture 1 on RMB internationalization Academician Yu Yongding (Chinese Academy of Social Sciences) |
10.40-12.00 Session1: Exchange rate arrangements 1 | |
- Christoph Fischer (Bundesbank): Currency blocks in the 21st century | |
- Heikki Oksanen (University of Helsinki): Re-pegging the renminbi to a basket: issues and implications | |
- Discussant: Hubert Fromlet (Linnaeus University) | |
12.00-13.00 | Lunch break |
13.30-14.20 Session2: Internationalization of RMB | |
- Yuning Gao (University of Cambridge): Renminbi internationalization as a response to the global imbalance | |
- Discussant: Mikael Mattlin (Finnish Institute of International Affairs) | |
14.25-15.45 Session 3: Exchange rate arrangements 2 | |
- 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 | |
- Yi David Wang (University of International Business and Economics, Beijing): Convertibility restriction in China's foreign exchange market and its impact on forward pricing | |
- Discussant: Iikka Korhonen (BOFIT, Bank of Finland) | |
16.00-17.00 | Invited lecture 2 on RMB internationalization Executive Director (Research), Dr. He Dong (Hong Kong Monetary Authority) |
Tuesday, September 18 | |
9.00-11.00 Session 4: Monetary policy and China's financial system | |
- 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 | |
- Pierre Siklos (Wilfrid Laurier University): Prolonged reserves accumulation, credit books, asset prices and monetary policy in Asia | |
- Aaron Mehrotra (Bank for International Settlements): Removing excess liquidity from the financial system by issuing central bank securities –The case of China | |
- Discussants: Aaron Mehrotra (Bank for International Settlements) and Pierre Siklos (Wilfrid Laurel University) | |
11.00-12.00 | Invited lecture 3 on interest rate liberalization in China Director Xuechun Zhang (Research Institute, People's Bank of China) |
12.00-13.00 | Lunch break |
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, |
14.00-15.20 Session 5: Banking sector development | |
- 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 | |
- 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 | |
- Discussant: Maggie Fu (University of Macao) | |
15.30-16.50 Session 6: China's financial markets | |
- Jeremy C. Goh, Fuwei Jiang and Jun Tu (Singapore Management University): Can US economic variables predict the Chinese stock market? | |
- 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 | |
- Discussants: Tuuli Koivu (Bank of Finland) and Helinä Laakkonen (Bank of Finland) | |
17.00 End of the Workshop |
China’s Financial Markets and Internationalization of the Renminbi
17–18 September 2012 / Helsinki
Organized by the Central Bank-Academia Network on the Chinese Economy Workshop