Статья

The digital transactions currency for the BRICS [Цифровая трансакционная валюта стран БРИКС]

M. Zharikov,
2021

The article deals with the circulation of a digital currency as a worldwide problem. The topic has theoretical and practical significance because price stability, economic growth and development and market equilibrium depend on the quality of this circulation. Currency digitization has become a particularly acute issue with the outbreak of COVID-19, which made central banks to think about contactless means of payment. The research identified the significance of the most important macroeconomic indicators which may characterise the hypothetical shared digital currency for the BRICS, namely, a shared interest rate and the quantity of digital money in circulation needed for the international use. The exchange rate of the BRICS digital currency, if it ever goes into being, is going to heavily depend on the amount of the interest rate of the hypothetical creditor of last resort. This problem is quite significant, since for the international circulation it is very important to know the proportions in which the digital currency is to be exchanged for the currencies of other countries. The theoretical significance of the article is the development of a model’s basis to find the exchange rate of the digital currency. The practical significance of the paper is that it contains recommendations for foreign-exchange-market players to optimise their investment portfolios as well as for monetary authorities in the emerging economies to make some policy choices. © Siberian Federal University. All rights reserved.

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Версии

  • 1. Version of Record от 2021-04-27

Метаданные

Об авторах
  • M. Zharikov
    Financial University under the Government of the Russian Federation, Moscow, Russian Federation
Название журнала
  • Journal of Siberian Federal University - Humanities and Social Sciences
Том
  • 13
Выпуск
  • 11
Страницы
  • 1760-1769
Издатель
  • Siberian Federal University
Тип документа
  • journal article
Тип лицензии Creative Commons
  • CC
Правовой статус документа
  • Свободная лицензия
Источник
  • scopus