From petrodollar to energy-yuan: currency internationalization in the light of network effects
Brics Seminar | Wednesday December 1st, 2021
The next session of the BRICs seminar will be held Wednesday, December 1st 2021, 6pm (online)
Speaker: Natalia De Lima Bracarense, (Associate Professor of Economics, North Central College, Visiting scholar at University of Paris).
Moderator: Thibaud Deguilhem (UdP)
The present paper argues that contrary to what is generally maintained in international relations literature, China’s effort to internationalize the renminbi has not stall after its inclusion in the International Monetary Fund’s (IMF) Special Drawing Rights in 2015. From 2015 onward, RMB internationalization strategies have instead shifted towards network and institutional building to support the potential expansion of its international role. This argument rests upon a historical institutionalist approach of network externalities applied specifically to the energy-yuan strategy, through which China both fosters renminbi internationalization and secures energy provision.
Natalia De Lima Bracarense is a spectialist in development economics and history of economic thought. Her PhD Thesis was focused on Latin America and her current researches deal with China in an institutionnalist perspective. During the past few years, she published articles in history of economic thought and economic methodology. Natalia Bracarense published in Cambridge Journal of Ecoonmics, Review of Social Economy, Review of Political Economy, Journal of Economic Issues and Review of Radical Political Economy.