央行数字货币对银行金融稳定性的影响：动态面板估计

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-06-17 DOI:10.1016/j.frl.2025.107791

Dennis Heitmann , Jascha-Alexander Koch , Mohammad Saiful Islam , Sharmin Akter Eva

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引用次数: 0

摘要

全球约90%的中央银行目前正在开展探索央行数字货币（cbdc）的举措。令人惊讶的是，只有四个国家——巴哈马、尼日利亚、津巴布韦和牙买加——已经推出并正在使用零售cbdc。然而，人们对它们对银行体系的影响知之甚少。我们研究了推出CBDC对银行金融稳定的影响。应用动态面板估计的两步系统广义矩量方法（GMM），我们发现推出cbdc增加了银行的财务稳定性，为这一主题提供了新的经验证据。

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The impact of central bank digital currencies on the financial stability of banks: Dynamic panel estimation

Around ninety percent of central banks worldwide are currently running initiatives to explore central bank digital currencies (CBDCs). Surprisingly, only four countries—the Bahamas, Nigeria, Zimbabwe, and Jamaica—have launched and are currently using retail CBDCs. However, little is known about their impact on the banking system. We investigate the impact of launching a CBDC on banks’ financial stability. Applying two-step system generalized method of moments (GMM) with dynamic panel estimation, we reveal that launching CBDCs increases banks’ financial stability, offering novel empirical evidence on this topic.

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance