Capital Flow Management Measures In The Digital Age 2
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Capital Flow Management Measures In The Digital Age 2
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Author : Mr. Dong He
language : en
Publisher: International Monetary Fund
Release Date : 2023-09-15
Capital Flow Management Measures In The Digital Age 2 written by Mr. Dong He and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-09-15 with Business & Economics categories.
This fintech note looks at how capital flow measures (CFMs) could be implemented with central bank digital currency (CBDC), and what benefits, risks and complexities could arise. There are several implications of the analysis. First, CBDC ecosystems should generally be designed such that they can accommodate the introduction of CFMs. Second, thanks to the programmability of the payment infrastructure given by the new digital technologies, certain CFMs could likely be implemented more efficiently and effectively with CBDC compared to the traditional system. Third, implementing CFMs requires central banks to collaborate on practices and standards. Finally, CFMs on CBDC need to operate alongside traditional CFMs.
Capital Flow Management Measures In The Digital Age
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Author : Mr. Dong He
language : en
Publisher: International Monetary Fund
Release Date : 2022-05-10
Capital Flow Management Measures In The Digital Age written by Mr. Dong He and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-05-10 with Business & Economics categories.
Capital flow management measures (CFMs) can be part of the broader policy toolkit to help countries reap the benefits of capital flows while managing the associated risks. Their implementation typically requires that financial intermediaries verify the nature of transactions and the identities of transacting parties but is facing the rising challenge of crypto assets. Indeed, crypto assets have become a significant instrument for payments and speculative investments in some countries. They can be traded pseudonymously and held without identification of the residency of the asset holder. Many crypto service providers operate across borders, making supervision and enforcement by national authorities more difficult. The challenges posed by the attributes of crypto assets are compounded by gaps in the legal and regulatory frameworks. This paper aims to discuss how crypto assets could impact the effectiveness of CFMs from a structural and longer-term perspective. To preserve the effectiveness of CFMs against crypto-related challenges, policymakers need to consider a multifaceted strategy whose essential elements include clarifying the legal status of crypto assets and ensuring that CFM laws and regulations cover them; devising a comprehensive, consistent, and coordinated regulatory approach to crypto assets and applying it effectively to CFMs; establishing international collaborative arrangements for supervision of crypto assets; addressing data gaps and leveraging technology (regtech and suptech) to create anomaly-detection models and red-flag indicators that will allow for timely risk monitoring and CFM implementation.
Business And Management In Asia Finance And Investments In The Digital Age
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Author : Tobias Endress
language : en
Publisher: Springer Nature
Release Date : 2025-05-28
Business And Management In Asia Finance And Investments In The Digital Age written by Tobias Endress and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-05-28 with Business & Economics categories.
This book presents an examination of the relationship between finance, investment, and digital transformation in the context of Asian business environment. It offers a comprehensive and in-depth exploration of these critical themes, providing a foundation for a profound understanding of the evolving digital business ecosystem. Grounded in research, this work offers a wealth of practical insights and draws on empirical evidence from real-world case studies involving Asian startups. It equips readers with actionable knowledge, making it an invaluable resource for researchers, academics, and professionals seeking to navigate the complex landscape of digital finance. The book delves into topics such as application of AI in investment, finance, and its trustworthiness, the impact of digital cashless payments , and the role of academics in building the future of finance. Additionally, it explores the cooperative approach to fintech development, the future structure of banking in the digital age, and navigating the digital frontier: Central Bank Digital Currencies . With a forward-looking perspective, the book examines emerging trends and technological advancements that will reshape the financial services industry. It scrutinizes the impact of AI and deep learning-based business models, the empowerment potential of digital microfinance, and regulation and taxation of crypto income within Asian markets. It offers a solid foundation for those seeking to make informed decisions and conduct rigorous research in this rapidly evolving field.
Cross Border Payments With Retail Central Bank Digital Currencies
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Author : Andre Reslow
language : en
Publisher: International Monetary Fund
Release Date : 2024-05-15
Cross Border Payments With Retail Central Bank Digital Currencies written by Andre Reslow and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-05-15 with Business & Economics categories.
Many central banks are currently exploring the possibility of issuing retail central bank digital currency (CBDC). While the primary objective varies between jurisdictions, many central banks consider improved cross-border payments as a potential benefit and previous work has shown that CBDC can help overcome some of the frictions in cross-border payments. CBDC is a safe and liquid asset reducing the number of financial intermediaries and the settlement risk. Designing CBDC systems for cross-border payments is not fundamentally different from tailoring other payment systems. However, the roles and responsibilities might be slightly different in a CBDC system, and the central bank may play a more pivotal role given CBDC’s nature as public money as opposed to commercial bank money. This note draws lessons from ongoing experimentation and research to identify design and policy considerations when developing retail CBDC systems so it may be compatible for cross-border payments. The note focuses on retail CBDC—a CBDC primarily targeting households and non-financial firms—and leaves wholesale CBDC considerations for future work, although many of the discussions are applicable to wholesale CBDC and other forms of money as well.
A Research Agenda For Global Power Shifts And International Economic Law
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Author : Joel Slawotsky
language : en
Publisher: Edward Elgar Publishing
Release Date : 2025-06-09
A Research Agenda For Global Power Shifts And International Economic Law written by Joel Slawotsky and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-06-09 with Law categories.
This innovative Research Agenda examines the transformational changes affecting the global economic architecture, international law, and investment and trade paradigms. Renowned authors discuss and raise insightful questions with respect to a host of topics including: international tribunals, human rights policies, cross-border data flows, trends in the digital economy, WTO reform, sanctions, subsidies, judicialization of global economic governance, the Digital Economy Partnership Agreement, and the re-conceptualization of national security.
Digital Payment Innovations In Sub Saharan Africa
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Author : Mr. Luca A Ricci
language : en
Publisher: International Monetary Fund
Release Date : 2025-06-27
Digital Payment Innovations In Sub Saharan Africa written by Mr. Luca A Ricci and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-06-27 with Business & Economics categories.
This paper takes stock of developments and policy issues related to digital payments innovations across sub-Saharan African (SSA), including central bank digital currency (CBDC), fast payments systems (FPS), mobile money, and crypto assets, which are now at the forefront of policymakers’ attention in the region. Drawing on insights from a recent IMF survey of SSA central banks (Ricci and others, 2024), the analysis is grounded in the unique characteristics of SSA compared with other regions. The paper offers tailored recommendations related to policy, regulation, and design, aimed at strengthening the digital payment landscape in the region. It notes the important role of strengthening digital infrastructure and leveling the playing field for private sector involvement through an enabling, competitive, interoperable and secure operating environment. The development of mobile money and FPS should be encouraged. CBDCs can complement these and could be pursued when there are well-identified market failures or other strategic reasons that require public intervention in the digital payment space. While crypto assets (especially adequately backed stablecoins) can support financial innovations, they are also associated with risks that should be contained through comprehensive regulations. Crypto assets should not be adopted as legal tenders. Stronger collaboration across borders can foster efficiency gains and international interoperability of payment systems.
Exploring Central Bank Digital Currencies Concepts Frameworks Models And Challenges
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Author : Kaur, Guneet
language : en
Publisher: IGI Global
Release Date : 2024-03-07
Exploring Central Bank Digital Currencies Concepts Frameworks Models And Challenges written by Kaur, Guneet and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-07 with Business & Economics categories.
In the ever-evolving landscape of global finance, the rise of Central Bank Digital Currencies (CBDCs) has introduced a myriad of challenges that demand immediate scholarly attention. The accelerating pace of digital transformation, coupled with the intricate dynamics of these novel currencies, poses significant hurdles in their widespread adoption. From privacy concerns to the technological complexities involved, the academic community finds itself at the forefront of deciphering the multifaceted challenges inherent in the CBDC landscape. Addressing this imperative need for comprehensive analysis is the groundbreaking publication, Exploring Central Bank Digital Currencies: Concepts, Frameworks, Models, and Challenges. Within the pages of this compelling work, scholars will encounter a meticulous exploration of the intricate evolution of money, navigating from traditional barter systems to the digital era. The catalytic role of Bitcoin in reshaping the financial landscape serves as a cornerstone, laying the foundation for a profound understanding of the cryptocurrency fundamentals that underpin CBDCs. This book delves into the conceptual frameworks and technological models shaping CBDCs, aiming to illuminate the complex challenges faced by central banks, governments, and financial institutions in their pursuit of digital currency integration.
Republic Of T Rkiye
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2023-01-18
Republic Of T Rkiye written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-01-18 with Business & Economics categories.
Türkiye’s recovery from the pandemic has been remarkable and reflects outsized stimulative policies and a dynamic private sector. But the same policies that buoyed growth also exacerbated vulnerabilities by lowering reserve buffers and increasing dollarization. A new policy model, introduced in the Fall of 2021, aims at further supporting growth and at lowering inflation by eliminating Türkiye’s current account deficit. The model relies on low interest rates and on measures to reduce dollarization, financial volatility, and overall credit growth, while directing lending to selected sectors. Successive policy rate cuts led to a run on the lira in December 2021, which was only relieved by large FX intervention and a new FX-protected deposit scheme. Since then, increasingly distortionary and complex macrofinancial and regulatory measures have been put in place to limit the lira decline. Meanwhile, inflation reached multi-decade highs, at 85 percent in October 2022. While Türkiye’s public debt burden is low compared to peers, fiscal risks have grown—notably from quasi-fiscal operations, contingent liabilities, and the exposure of public debt to FX shocks—and spending is expected to rise ahead of the upcoming elections. Spillovers from Russia’s war in Ukraine have added to Türkiye’s economic strains and have exacerbated external vulnerabilities, notably through a wider current account deficit.
Central Bank Digital Currencies And Financial Stability Balance Sheet Analysis And Policy Choices
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Author : Romain Bouis
language : en
Publisher: International Monetary Fund
Release Date : 2024-10-11
Central Bank Digital Currencies And Financial Stability Balance Sheet Analysis And Policy Choices written by Romain Bouis and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-10-11 with categories.
This paper offers a comprehensive analysis of the implications for financial stability of a central bank issuing a digital currency to the public at large. We start with a systematic analysis of balance sheet changes that arise from the new liability for the central bank and the banking system, and examine how they depend on preconditions, central bank choices, and banking system responses. Based on this, we discuss the range of implications for financial stability that may arise in steady state, in the context of adoption, and in crisis times. Threats to financial intermediation in steady state arise mainly in situations where the central bank balance sheet expands, and triggers adjustment mechanisms that lead to more costly or less stable funding of the banking system, while in crisis times run risk may increase. Our analysis of policy choices to control these effects considers macroprudential policy, and an expansion of central bank lending to commercial banks, but finds that a main contribution needs to come from a design of the CBDC that encourages its use as a means of payment rather than a store of value.
Central Bank Digital Currency Data Use And Privacy Protection
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Author : Mr. Kieran P Murphy
language : en
Publisher: International Monetary Fund
Release Date : 2024-08-30
Central Bank Digital Currency Data Use And Privacy Protection written by Mr. Kieran P Murphy and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-08-30 with categories.
This note offers a framework to help countries navigate, as well as tools to help them manage, the trade-offs between CBDC data use and privacy protection. It addresses retail CBDC, as data access and privacy-preserving considerations in a wholesale environment are similar to those of the traditional RTGS systems. It emphasizes the role of institutional arrangements, data collection, access and storage policies, design choices, and technological solutions. At a given level of preference for privacy, central banks can facilitate better use of CBDC data through robust transparency and accountability arrangements, sound policies, and judicious adoption of privacy-by-design approaches including the use of privacy-enhancing technologies.