Demand for China RMB Currency
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Demand for China RMB currency, and will specifically focus on demand for RMB bonds.
1) What should be my research approach?
What are the advantage and disadvantages of such approach?
2) What should be my research philosopy?
What are the advantage and disadvantages of such philosophy?
3) What should be my research methods?
What are the advantage and disadvantages of the chosen methods?
Please use at least 10 references to support your solutions.
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Solution Summary
This solution provides assistance with the research methodology regarding the demand for China RMB currency.
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1. There are four main approaches to research:
i. Quantitative approach
ii. Qualitative approach
iii. Mixed method
iv. Advocacy/participatory approach
For the purpose of research involving "demand for China RMB currency", we would use quantitative approach. The first step would be to form one or more hypotheses. These are questions about possible relationships between variables which we want to test. Quantitative research involves collecting data by various means following a strict procedure and preparing for statistical analysis. The analysis would enable us to determine to what extent there is a relationship between two or more variables.
The quantitative method has following advantages:
- The results are statistically reliable. This means that quantitative research can reliably determine if one idea, concept is better than other or not.
- Quantitative method allows researcher to identify a cause and effect relationship
- The numbers and statistics allows researcher to make inferences and evaluations about the subject of study
- Replication of results is easier because of the fact that there is an isolation and control of the variables being studied
- The results of analysis are projectable to the entire population. This means that the proportion of respondents answering a certain way is similar to the proportion of the total population that would have answered that way if they had been asked the same question.
The method has following disadvantages:
- Results of quantitative research are not necessarily applicable to similar phenomenon in the real world. Therefore, generalizability of results is ...
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