{"title":"中央银行数字货币、金融技术水平和地区金融稳定","authors":"","doi":"10.1016/j.iref.2024.103598","DOIUrl":null,"url":null,"abstract":"<div><p>This study delves into the relationship between the issuance of central bank digital currencies (CBDCs) and regional financial stability. Through empirical analysis, we find that the pilot policy of digital yuan has a significant positive impact on financial stability. Further analysis of regional heterogeneity reveals that cities in central and western China, which have a weaker financial foundation, experience more pronounced improvements in financial stability under the digital yuan pilot compared to eastern regions. Additionally, the level of financial technology plays a crucial moderating role in enhancing the effects of the digital yuan pilot policy, particularly in central and western regions. These findings provide valuable insights for policymakers, aiding in the more precise and efficient promotion of digital currency pilots and related financial technology development.</p></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":null,"pages":null},"PeriodicalIF":4.8000,"publicationDate":"2024-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Central bank digital currency, financial technology level and regional financial stability\",\"authors\":\"\",\"doi\":\"10.1016/j.iref.2024.103598\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>This study delves into the relationship between the issuance of central bank digital currencies (CBDCs) and regional financial stability. Through empirical analysis, we find that the pilot policy of digital yuan has a significant positive impact on financial stability. Further analysis of regional heterogeneity reveals that cities in central and western China, which have a weaker financial foundation, experience more pronounced improvements in financial stability under the digital yuan pilot compared to eastern regions. Additionally, the level of financial technology plays a crucial moderating role in enhancing the effects of the digital yuan pilot policy, particularly in central and western regions. These findings provide valuable insights for policymakers, aiding in the more precise and efficient promotion of digital currency pilots and related financial technology development.</p></div>\",\"PeriodicalId\":14444,\"journal\":{\"name\":\"International Review of Economics & Finance\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":4.8000,\"publicationDate\":\"2024-09-05\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Review of Economics & Finance\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1059056024005902\",\"RegionNum\":2,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Review of Economics & Finance","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1059056024005902","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
Central bank digital currency, financial technology level and regional financial stability
This study delves into the relationship between the issuance of central bank digital currencies (CBDCs) and regional financial stability. Through empirical analysis, we find that the pilot policy of digital yuan has a significant positive impact on financial stability. Further analysis of regional heterogeneity reveals that cities in central and western China, which have a weaker financial foundation, experience more pronounced improvements in financial stability under the digital yuan pilot compared to eastern regions. Additionally, the level of financial technology plays a crucial moderating role in enhancing the effects of the digital yuan pilot policy, particularly in central and western regions. These findings provide valuable insights for policymakers, aiding in the more precise and efficient promotion of digital currency pilots and related financial technology development.
期刊介绍:
The International Review of Economics & Finance (IREF) is a scholarly journal devoted to the publication of high quality theoretical and empirical articles in all areas of international economics, macroeconomics and financial economics. Contributions that facilitate the communications between the real and the financial sectors of the economy are of particular interest.