厦门大学王亚南经济研究院、经济学院博士招生交流会暨讲座

题目：厦门大学王亚南经济研究院、经济学院博士招生交流会暨讲座

时间：2016年4月21日，上午9:00-10:30

地点：25楼A816

主讲人：周颖刚

主讲人简介：

周颖刚，2001年获厦门大学金融学博士，2007年获美国康奈尔大学经济学博士，现任厦门大学经济学院金融系和王亚南经济研究院教授，曾担任美国股息资本投资公司经济学家，从事共同基金、对冲基金的全球资产配置工作；曾长期任教于香港中文大学商学院，担任旅游与不动产研究中心主任等职务；主要从事金融与房地产市场、国际金融和贸易、中国金融开放与创新等研究，在Management Science, Journal of Banking and Finance, Journal of Futures Markets, Journal of Real Estate Finance and Economics, 《经济研究》、《经济学（季刊）》、《管理世界》、《金融研究》等国内外权威和核心刊物发表30多篇学术论文，荣获纽约证券交易所与泛欧交易所金融市场最优论文奖、芝加哥数量化联盟学术优胜奖、亚太衍生品协会最优论文奖及世界华人不动产学会最优论文奖等重要奖项。

Is RMB increasingly important? A Network Approach

Yiming Wang and Yinggang Zhou* (Xiamen University)

Abstract

With an innovative network approach, this study presents strong evidence of Renminbi (RMB)'s growing influence globally and regionally. We identify networks of exchange rate spillovers and examine time-varying spillover intensities among RMB and major global and Asian currencies. Shocks from RMB, especially the offshore RMB exchange rate known as the CNH, generate intensifying spillovers across global currencies in general and Asian currencies in particular. The centrality of RMB in the network has increased steadily over time. Our findings highlight that RMB is increasingly important as China initiates market reforms of its currency .

Keywords: RMB ; spillover; financial network; generalized VAR

JEL Classifications: G01, G15, G32

*Corresponding author: Yinggang Zhou, Professor of Finance, Department of Finance, School of Economics, and Wang Yanan Institute for Studies in Economics, Xiamen University, Xiamen, 361005, China.