{"title":"新时代的数字货币与货币政策","authors":"Bilal Bağış","doi":"10.25253/99.2022243.12","DOIUrl":null,"url":null,"abstract":"The centuries-old financial structure and the modern financial system are built on physical currencies. After the global financial crisis of 2008-2009 and the COVID-19 pandemic of 2020, along with the introduction of all-new cryptocurrencies and stable coins, even many central banks have voiced an interest in the introduction of digital currencies. Hence, the pros and cons of the new central bank digital currencies (CBDC) are the newest widely discussed topic. This paper focuses on the ways a new instrument, central bank digital currency (CBDC), is expected to improve the modern payment systems, increase the efficacy of monetary policy and ensure financial stability in the new era. The study concludes that although CBDCs might boost monetary policy effectiveness and financial stability, it is vital to reevaluate and thoroughly analyse the geopolitical, geoeconomic, and geostrategic implications and effects of having a CBDC.","PeriodicalId":44871,"journal":{"name":"Insight Turkey","volume":" ","pages":""},"PeriodicalIF":0.6000,"publicationDate":"2022-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Digital Currencies and Monetary Policy in the New Era\",\"authors\":\"Bilal Bağış\",\"doi\":\"10.25253/99.2022243.12\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"The centuries-old financial structure and the modern financial system are built on physical currencies. After the global financial crisis of 2008-2009 and the COVID-19 pandemic of 2020, along with the introduction of all-new cryptocurrencies and stable coins, even many central banks have voiced an interest in the introduction of digital currencies. Hence, the pros and cons of the new central bank digital currencies (CBDC) are the newest widely discussed topic. This paper focuses on the ways a new instrument, central bank digital currency (CBDC), is expected to improve the modern payment systems, increase the efficacy of monetary policy and ensure financial stability in the new era. The study concludes that although CBDCs might boost monetary policy effectiveness and financial stability, it is vital to reevaluate and thoroughly analyse the geopolitical, geoeconomic, and geostrategic implications and effects of having a CBDC.\",\"PeriodicalId\":44871,\"journal\":{\"name\":\"Insight Turkey\",\"volume\":\" \",\"pages\":\"\"},\"PeriodicalIF\":0.6000,\"publicationDate\":\"2022-08-26\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Insight Turkey\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.25253/99.2022243.12\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q3\",\"JCRName\":\"POLITICAL SCIENCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Insight Turkey","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.25253/99.2022243.12","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"POLITICAL SCIENCE","Score":null,"Total":0}
Digital Currencies and Monetary Policy in the New Era
The centuries-old financial structure and the modern financial system are built on physical currencies. After the global financial crisis of 2008-2009 and the COVID-19 pandemic of 2020, along with the introduction of all-new cryptocurrencies and stable coins, even many central banks have voiced an interest in the introduction of digital currencies. Hence, the pros and cons of the new central bank digital currencies (CBDC) are the newest widely discussed topic. This paper focuses on the ways a new instrument, central bank digital currency (CBDC), is expected to improve the modern payment systems, increase the efficacy of monetary policy and ensure financial stability in the new era. The study concludes that although CBDCs might boost monetary policy effectiveness and financial stability, it is vital to reevaluate and thoroughly analyse the geopolitical, geoeconomic, and geostrategic implications and effects of having a CBDC.
期刊介绍:
Insight Turkey, a quarterly journal in circulation since 1999, is published by SETA Foundation for Political, Economic and Social Research under the editorship of Ihsan Dagi from the Middle East Technical University. Currently in its 12th volume, Insight Turkey covers a broad range of topics related to Turkish domestic and foreign policy, as well as its adjacent regions such as the Middle East, the Caucasus, the Balkans and Europe. As a peer-reviewed policy-oriented journal, Insight Turkey intends to present original thinking by knowledgeable observers both from Turkey and abroad and provide a forum for informed discussion on Turkish politics and foreign policy.