The advent of digital stablecoins and the continuing decline of cash are prompting central banks across the world to explore developing their own digital currencies. Although few have launched so far, the potential for central bank digital currency (CBDC) promises a revolution in banking.Michael...

It is generally agreed that economic growth and the level of investment are linked: but how? Using growth models, this study assesses the extent to which investment, both private and public, can contribute to growth and employment. It also examines the role of investment quality in inducing...