For decades, science and technology (sci-tech) have influenced world trade, world economy, and international finance. However, their specific impacts are seldom known and related empirical studies are rare. Thus, we must quantify and empirically explore how sci-tech influences such areas as mentioned above. The purpose of this book is to explore how sci-tech influences world trade, foreign exchange, and currency internationalization in various ways through first quantifying science & technology. This book empirically explores how major world currencies might change their relative international positions with continuous innovation and diffusion of sci-tech.
Currency internationalization is measured by the percentage share of the average daily turnover of a particular currency in the global foreign exchange market over the corresponding overall daily turnover of the global foreign exchange market over the corresponding overall daily turnover of the global foreign exchange market. Sci-tech as a commodity is borderless, yet its inventors and related businesses are bound by the intellectual property laws of their own countries. Patents, especially international patents, are useful representations of sci-tech. They cannot be compared directly because of different criteria of patent regulators worldwide, and thus the quality of patents varies across patent regulators. Based on patent data from annual IP 5 Statistics Reports and charges for the use of IP of major currency issuers released by the WTO, this book quantifies sci-tech internationalization using weighted patent families first, and proceeds to study how sci-tech internationalization affects currency internationalization.
Contents:
Part I:
Major Factors Affecting Currency Internationalization
Science and Technology: The Cornerstones for Currency Internationalization
Part II:
Global Trade and Cross-Border Payment and Settlement
Currency Internationalization
PCT Patents: The Backbone of International Technology
Development of Global Trade in Services and Charges for Use of Intellectual Property
Science and Technology Originality Capability and Internationalization Measures
Impacts of Science and Technology on Trade, Current Accounts, and Others
Part III:
Development and Current Status of Offshore CNY Centers
Offshore CNY Markets
Overseas Assets and Bank Internationalization of Major Currency Issuers
Current Status of Major International Currencies
Part IV:
Mutually Supportive Relationship between Science & Technology Internationalization and Currency Internationalization and Better Currency Internationalization Measure
Mutual Impacts of Sci-tech Internationalization and Currency Internationalization
Currency Originating Capability and Relationships among Currency Originality Capability, Currency Internationalization, and Sci-tech Originality Capability
Future Changes of Major Currency Internationalization and Market Development
Readership: Academics, undergraduate and graduate students, professionals, and policymakers interested in currency internationalization and the impact of science and technology innovation on currency internationlization.