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The Development Status of CBDC: A Comparative Study

Author

Listed:
  • Fengqi Xie

    (Tomsk State University)

  • Marina Ryzhkova

    (Tomsk State University)

Abstract

In recent years, the concept of central bank digital currency (CBDC) has gained significant attention in the field of monetary economics and finance. CBDC is a digital form of central bank money that can be used by the public and commercial banks for payments and other transactions. This paper provides a comparative study of the development status of CBDC in different countries and regions, including China, Sweden, the United States, and the European Union. The study examines the motivations for developing CBDC, the design features of CBDC, the legal and regulatory frameworks for CBDC, and the potential benefits and risks of CBDC. The findings suggest that while there is no one-size-fits-all approach to CBDC, there are some common themes and challenges that policymakers need to address in designing and implementing CBDC.

Suggested Citation

  • Fengqi Xie & Marina Ryzhkova, 0000. "The Development Status of CBDC: A Comparative Study," Proceedings of Economics and Finance Conferences 14115979, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iefpro:14115979
    as

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    File URL: https://iises.net/proceedings/international-conference-on-economics-finance-and-business-prague-2023-1/table-of-content/detail?cid=141&iid=027&rid=15979
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    References listed on IDEAS

    as
    1. Mr. John Kiff & Jihad Alwazir & Sonja Davidovic & Aquiles Farias & Mr. Ashraf Khan & Mr. Tanai Khiaonarong & Majid Malaika & Mr. Hunter K Monroe & Nobu Sugimoto & Hervé Tourpe & Peter Zhou, 2020. "A Survey of Research on Retail Central Bank Digital Currency," IMF Working Papers 2020/104, International Monetary Fund.
    2. Anneke Kosse & Ilaria Mattei, 2022. "Gaining momentum – Results of the 2021 BIS survey on central bank digital currencies," BIS Papers, Bank for International Settlements, number 125.
    3. Brandon Tan, 2023. "Central Bank Digital Currency Adoption: A Two-Sided Model," IMF Working Papers 2023/127, International Monetary Fund.
    4. Brandon Tan, 2023. "Central Bank Digital Currency and Financial Inclusion," IMF Working Papers 2023/069, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Central bank digital currency; Development status; Motivation; Design feature; Legal and regulatory frameworks; Potential benefits and risks;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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