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Central bank digital currencies: An assessment of their adoption in Latin America

Author

Listed:
  • Noelia Camara
  • Enestor Dos Santos
  • Francisco Grippa
  • Javier Sebastian
  • Fernando Soto
  • Cristina Varela

Abstract

This document focuses on identifying factors affecting the implementation of a Central Bank digital currency (CBDC) in Latin American countries. The adoption of a CBDC (non-universal) for the interbank and wholesale payment system would lead to a relatively minor level of disruption in the economy. In this case, the implementation costs is an important issue.

Suggested Citation

  • Noelia Camara & Enestor Dos Santos & Francisco Grippa & Javier Sebastian & Fernando Soto & Cristina Varela, 2018. "Central bank digital currencies: An assessment of their adoption in Latin America," Working Papers 18/13, BBVA Bank, Economic Research Department.
    • Handle: RePEc:bbv:wpaper:1813
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    File URL: https://www.bbvaresearch.com/wp-content/uploads/2018/10/CBDCs-in-LATAM.pdf
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    References listed on IDEAS

    as
    1. Noelia Camara & David Tuesta, 2017. "DiGiX: The Digitization Index," Working Papers 17/03, BBVA Bank, Economic Research Department.
    2. Barrdear, John & Kumhof, Michael, 2016. "The macroeconomics of central bank issued digital currencies," Bank of England working papers 605, Bank of England.
    3. Leandro Medina & Mr. Friedrich Schneider, 2018. "Shadow Economies Around the World: What Did We Learn Over the Last 20 Years?," IMF Working Papers 2018/017, International Monetary Fund.
    4. Demirguc-Kunt,Asli & Klapper,Leora & Singer,Dorothe & Van Oudheusden,Peter, 2015. "The Global Findex Database 2014 : measuring financial inclusion around the world," Policy Research Working Paper Series 7255, The World Bank.
    5. Olga Gouveia & Enestor Dos Santos & Santiago Fernandez de Lis & Alejandro Neut & Javier Sebastian, 2017. "Monedas digitales emitidas por los bancos centrales: adopcion y repercusiones," Working Papers 17/05, BBVA Bank, Economic Research Department.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Donato Masciandaro, 2018. "Central Bank Digital Cash and Cryptocurrencies: Insights from a New Baumol–Friedman Demand for Money," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 51(4), pages 540-550, December.
    2. Ozili, Peterson K, 2024. "Central bank digital currency: what it can achieve and cannot achieve in Africa," MPRA Paper 120966, University Library of Munich, Germany.
    3. Eswar Prasad, 2020. "New and evolving financial technologies implications for monetary policy and financial stability in Latin America," Documentos de trabajo 19463, FLAR.
    4. Gronwald, Marc, 2019. "Is Bitcoin a Commodity? On price jumps, demand shocks, and certainty of supply," Journal of International Money and Finance, Elsevier, vol. 97(C), pages 86-92.

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    More about this item

    Keywords

    Working Paper ; Digital Regulation ; Central Banks ; Digital economy ; Financial Markets ; Financial Inclusion ; Latin America;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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