Financial inclusion continues to be a significant challenge in Nigeria since many Nigerians are excluded from the financial ecosystem. This article investigates the impact of the Central Bank Digital Currency (CBDC) on digital financial inclusion using a quantitative research design and data...

The recent wave of financial innovation that has followed the financial inclusion strategy adopted by the Reserve Bank of Zimbabwe in 2015 poses a serious challenge to the national payments system and the conduct of effective monetary policy in the country. Despite the resultant reduction in...

Should a central bank digital currency (CBDC) be issued? Should its design be cash- or depositlike? To answer these questions, we theoretically and quantitatively assess the effects of a CBDC on consumption, banking and welfare. Our model introduces new general equilibrium linkages across...

This paper predicts households' demand for a central bank digital currency (CBDC) with different design attributes by applying a structural demand model to a unique Canadian survey dataset. CBDC and its close alternatives, cash and demand deposits, are viewed as product bundles of different...

Fintech presents unique opportunities for central banks. The rapid changes in technology that are transforming the financial system will allow central banks to enhance the execution of various of their core functions, such as currency issuance and payment systems. But some aspects of fintech...