China’s central bank digital currency (CBDC): an assessment of money and power relations

Peruffo, Luiza; Cunha, André Moreira; Haines, Andrés Ferrari

doi:10.1080/13563467.2023.2196064

Cited by 3 publications

(1 citation statement)

References 56 publications

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“…(2022), Son et al . (2023) and Peruffo et al . (2023), utilize theoretical models, case studies and interviews with executives from financial institutions.…”

Section: Resultsmentioning

confidence: 96%

Central bank digital currencies: a comprehensive systematic literature review on worldwide research emergence and methods used

Fahad,

Bulut

2024

AJB

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PurposeThe purpose of this paper is to review the literature on Central Bank Digital Currencies (CBDCs) in light of the increasing demand for digital payments globally. It aims to assess the global research landscape, methodologies and data utilized in CBDC studies as their popularity grows.Design/methodology/approachThe paper employs a systematic literature review (SLR) framework, utilizing the Scopus database to identify 323 studies related to Central Bank Digital Currency or CBDC. Through a thorough manual screening process, 169 studies were selected for inclusion. The research employs R, Biblioshiny and Excel for data evaluation, classifying the studies into three methodological categories: quantitative, qualitative and mixed approaches. This classification allows for a detailed assessment of the research techniques and data used in the literature on CBDCs.FindingsThe findings include a diverse range of research methodologies and data employed in CBDCs literature, highlighting the growing interest and depth of academic investigation into this area. By categorizing papers according to research technique, the study provides a comprehensive evaluation of the academic landscape regarding CBDC research. It offers valuable insights for researchers, policymakers and stakeholders, contributing to an enhanced understanding of the complexities and opportunities presented by the development and implementation of CBDCs.Originality/valueThis study’s originality lies in its rigorous and transparent methodology for data from CBDC studies, offering a solid framework for future research. By evaluating global research growth within an SLR framework and categorizing studies by research technique, it contributes uniquely to the academic discourse on digital currencies. The paper provides a critical resource for researchers, lawmakers and stakeholders, enriching the knowledge base on CBDCs and supporting informed decision-making in the context of digital financial innovation.

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“…(2022), Son et al . (2023) and Peruffo et al . (2023), utilize theoretical models, case studies and interviews with executives from financial institutions.…”

Section: Resultsmentioning

confidence: 96%

Central bank digital currencies: a comprehensive systematic literature review on worldwide research emergence and methods used

Fahad,

Bulut

2024

AJB

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Digital RMB vs. Dollar Hegemony? Friendly Foes in China-US Currency Competition

Zhang,

Cui,

Campbell-Verduyn

2023

J OF CHIN POLIT SCI

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Digital transformations are impacting inter-state currency politics in strategically important ways. This article contributes to growing debates over the nature of US-China competition as the Chinese RMB rapidly digitizes in ways said to challenge the hegemony of a slower digitizing greenback. We categorize existing views of currency competition in the digital age into two categories: ‘conventional transformation’ and ‘transformative continuity’. Both these presently dominant perspectives, we argue, are overly techno-deterministic and stand in contrast to a third perspective we propose called ‘probabilistic flux’. Emphasizing the unanticipated and error-prone nature of technological change through Social Construction of Technology theory and informed by the IPE of monetary relations, we provide a more nuanced assessment of digital RMB’s challenges to dollar dominance stressing the functions, benefits and powers of international currency hegemony. Our conclusions are three-fold. First, wider digital currency alternatives to both the dollar and RMB have enriched the international currency functions of the former over the latter. Second, this broader array of digital currency alternatives combines with Chinese RMB digitization to gradually erode the functional base and benefits of dollar dominance position, as well as diminish the US’s international monetary power in both Asia and beyond. Third, what we see as largely friendly digital currency competition focused on domestic imperatives currently remains unpredictable. These findings pose present possibilities for greater international cooperation but equally for less friendly competition and flux particularly as US dollar digitization also unfolds in ways that are difficult to anticipate.

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Public regulation urgency in cryptocurrency based on administrative reform for Bali sustainable tourism

Widhiasthini,

Subawa,

Fong Emmerson

et al. 2024

Cogent Social Sciences

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China’s central bank digital currency (CBDC): an assessment of money and power relations

Cited by 3 publications

References 56 publications

Central bank digital currencies: a comprehensive systematic literature review on worldwide research emergence and methods used

Central bank digital currencies: a comprehensive systematic literature review on worldwide research emergence and methods used

Digital RMB vs. Dollar Hegemony? Friendly Foes in China-US Currency Competition

Public regulation urgency in cryptocurrency based on administrative reform for Bali sustainable tourism

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