IMPACTS SCIENCE & TECHNOLOGY CURRENCY INTERNATIONALIZATION

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.

'This book is a valuable and rare work that imparts a wealth of information and knowledge concerning the international development of science and technology and its relationship to currency internationalization. It is a must-read for those who are contemplating the future of the internationalization of the world's major currencies. This book is one that I recommend all to read attentively.' - Professor Yosuke TsuyuguchiFaculty of Economics, Teikyo University, Japan

'This book is not only a masterpiece for professionals in businesses and financial areas, but also very useful for professionals in science and technology fields, as the author has built a beautiful bridge that connects the two fields based on his solid knowledge of these fields.' - Dr Zhong Lin WangRegents' Professor and Hightower Chair at Georgia Institute of TechnologyWinner of the 2019 Albert Einstein World Award of Science and 2018 ENI Award in Energy Frontiers