The Research Of Currency Internationalization Determinants Based On Yen And Euro Empirical Analysis

In current world political and economic environment, the competition between the countries are more and more reflected in the field of economic and financial competition, especially competition between the currency. The higher the degree of internationalization of the currency of a country, it more enjoys the benefits of an international currency. The United States use dollar international advantage to receive the "seigniorage".In addition, The United States output its domestic inflation to the world in order to achieve its own economic growth and price stability for the purpose. Historically, the German mark, the yen and the euro has initiated a challenge to the U.S., but so far no one currency to replace the dollar. Therefore, people are increasingly interested in what is international currency and what are the determinants of international currency. Especially the most recent period, the pattern of international financial tremendous changes.Subprime mortgage crisis, the European debt crisis and the U.S. debt crisis have occurred. Meanwhile, the U.S. dollar continued to weaken, the euro suffered an important blow and the yen is still in the doldrums. All these ushered in a new opportunity in this context the development of internationalization of the RMB, and also to further empower a determining factor in the study of currency internationalization practical significance. The internationalization of the RMB ushered in new opportunities for development in this context, given the practical significance of the determinants of currency internationalization.This article starts from the definition of the International Monetary then combed economist’s different statements of the International Monetary’concept. In the historical perspective and realistic perspective, summarizes the various theories of the currency internationalization of influencing factors. After Compare different views, come to the most important five factors of currency internationalization:(1) the country’s economic strength (2) the stability of monetary value (3) well-developed financial markets (4) the reign International Monetary viscous (5) the support of the gold reserves. At last article gives policy recommendations to promote the RMB further international...