The Model of a Shared Interest Rate for a Group of Countries to Circulate a Digital Currency: Featuring the BRICS

IF 1.7 Q3 BUSINESS, FINANCE

Journal of Central Banking Theory and Practice Pub Date : 2022-04-30 DOI:10.2478/jcbtp-2022-0019

M. Zharikov

{"title":"The Model of a Shared Interest Rate for a Group of Countries to Circulate a Digital Currency: Featuring the BRICS","authors":"M. Zharikov","doi":"10.2478/jcbtp-2022-0019","DOIUrl":null,"url":null,"abstract":"Abstract The purpose of the research is to offer a comparative analysis of a libertarian and gradual approach to introducing a market interest rate. The topic is time-relevant since the economies of the emerging markets today face difficult challenges posed by economic, financial and health-care crises, impending price stability, future growth and money market equilibrium. A digital currency is a special issue today due to the outbreak of covid-19, which has made many central banks think about contactless means of payment. The author revealed policy tools to circulate a hypothetical digital currency for the BRICS, including a shared interest rate and the quantity of digital money in circulation needed for the penta-lateral use. The theoretical significance is that the research tries to lay the foundation for a model to launch a virtual regional money market for the countries of the BRICS as well as their partners in wider parts of Europe and Asia. In practical terms, the article recommends a number of tools for monetary policy to deal with the coronavirus crisis of 2020.","PeriodicalId":44101,"journal":{"name":"Journal of Central Banking Theory and Practice","volume":null,"pages":null},"PeriodicalIF":1.7000,"publicationDate":"2022-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Central Banking Theory and Practice","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2478/jcbtp-2022-0019","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}

引用次数: 1

Abstract

Abstract The purpose of the research is to offer a comparative analysis of a libertarian and gradual approach to introducing a market interest rate. The topic is time-relevant since the economies of the emerging markets today face difficult challenges posed by economic, financial and health-care crises, impending price stability, future growth and money market equilibrium. A digital currency is a special issue today due to the outbreak of covid-19, which has made many central banks think about contactless means of payment. The author revealed policy tools to circulate a hypothetical digital currency for the BRICS, including a shared interest rate and the quantity of digital money in circulation needed for the penta-lateral use. The theoretical significance is that the research tries to lay the foundation for a model to launch a virtual regional money market for the countries of the BRICS as well as their partners in wider parts of Europe and Asia. In practical terms, the article recommends a number of tools for monetary policy to deal with the coronavirus crisis of 2020.

查看原文本刊更多论文

一组国家共同利率的数字货币流通模式:以金砖国家为例

摘要本研究的目的是对引入市场利率的自由主义和渐进方法进行比较分析。由于新兴市场经济体今天面临着经济、金融和保健危机、即将到来的价格稳定、未来的增长和货币市场平衡所带来的困难挑战，因此，本专题具有时势性。由于新冠肺炎疫情的爆发，数字货币成为当今的一个特殊问题，这使得许多央行开始考虑非接触式支付方式。作者揭示了为金砖国家流通一种假想数字货币的政策工具，包括共同利率和五边使用所需的数字货币流通数量。理论意义在于，本研究试图为金砖国家及其在欧洲和亚洲更广泛地区的合作伙伴推出虚拟区域货币市场的模型奠定基础。实际上，这篇文章推荐了一些货币政策工具来应对2020年的冠状病毒危机。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Journal of Central Banking Theory and Practice BUSINESS, FINANCE-

CiteScore

2.80

自引率

57.10%

发文量

审稿时长

7 weeks

期刊介绍： Journal of Central Banking Theory and Practice is a scientific journal dedicated to publishing quality papers and disseminating original, relevant and applicable economic research. Scientific and professional papers that are published in the Journal of Central Banking Theory and Practice cover theoretical and practical aspects of central banking, monetary policy, including the supervision issues, as well as banking and management in central banks. The purpose of the journal is to educate the general public about the key issues that the central bankers globally face, as well as about contemporary research and achievements in the field of central banking theory and practice.