The model of a shared interest rate for a group of countries to circulate a digital currency: Featuring the BRICS
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.
Year of publication: |
2022
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Authors: | Zharikov, Mikhail V. |
Published in: |
Journal of Central Banking Theory and Practice. - ISSN 2336-9205. - Vol. 11.2022, 2, p. 187-208
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Publisher: |
Warsaw : Sciendo |
Subject: | BRICS | digital currency | virtual money market | shared interest rate | liberal and gradualist approaches | credit surplus | digital money revenue |
Saved in:
freely available
Type of publication: | Article |
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Type of publication (narrower categories): | Article |
Language: | English |
Other identifiers: | 10.2478/jcbtp-2022-0019 [DOI] 1815234296 [GVK] |
Classification: | F14 - Country and Industry Studies of Trade ; F17 - Trade Forecasting and Simulation |
Source: |
Persistent link: https://www.econbiz.de/10014558457
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