INTERNATIONAL RESERVE CURRENCIES AND THE FUTURE OF THE CHINESE YUAN-Reference-Cited by-同舟云学术

INTERNATIONAL RESERVE CURRENCIES AND THE FUTURE OF THE CHINESE YUAN

Published:2023-12-29 Issue:28 Volume:14 Page:812-846
ISSN:1309-4289
Container-title:Kafkas Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
language:
Short-container-title:

Author:

BARTİK Ayvaz^ORCID,KARABULUT Kerem¹^ORCID

Affiliation:

1. ATATÜRK ÜNİVERSİTESİ

Abstract

The purpose of this study is to explore has the possibility of the Chinese Yuan to becoming a dominant currency among countries with reserve currencies. The study examines GDP (world share), the share of total reserves in a country’s GDP, and the Consumer Price Index (CPI). Only countries that possess reserve currencies were analyzed. In this study, an Artificial Neural Network (ANN) prediction model was employed. According to the study results, it is estimated that Chinese Yuan meets the specified criteria and has the potential to become a strong currency in the future. Additionally, the study predicts that the United States will maintain its status as a strong reserve currency in the future but could lose its strength based on the specified criteria. Germany and the United Kingdom are expected to perform weakly according to the specified criteria.

Funder

yok

Publisher

Kafkas Universitesi Iktisadi ve Idari Bilimler Fakultesi Dergisi

Subject

Education,Cultural Studies

Reference35 articles.

1. Alp, A., Kılıç, S., & Gönülalçak, H. (2020). An empirical study on the future of reserve currencies. Journal of Social Sciences, 5(1).

2. Aydın, Ö. (2019). Inflation forecasting with artificial neural networks. Master's thesis, Beykent University, Institute of Science and Technology, Istanbul.

3. Bonpasse, M. (2008). The single global currency common cents for the world. September 9, 2023 http://www.singleglobalcurrency.org/documents/ecopyno15forfreeunlimiteddistribnpdf accessed from the address.

4. Chin, M., & Frankel, J. (2005). Will the euro eventually surpass the dollar as a leading international reserve currency. NBER Bureau Economic Research Working Papers, 11 (2), 11-12.

5. Chinn, M., & Frankel, J. (2005). Will the euro eventually surpass the dollars leading international reserve currency?. NBER Working Paper Series, 2(4), 18.