Digital Currencies of the Central Bank as a Means of Strengthening the Monetization of the Russian Economy

DOI

10.2991/aebmr.k.200502.191How to use a DOI?

Keywords

digital currency (CBDC), aggregate M0, M, broad monetary base, monetization coefficient (KME), M1 / GDP, monetary base / GDP, M0 / M2

Abstract

This article discusses various approaches to the study of the money market in Russia. The material of discussions about the creation and use of digital currency is analyzed. Statistical data on the dynamics of the main monetary indicators of the Russian economy are presented: M0, M1, M2, the monetary base, the basic coefficients reflecting the degree of monetization of the Russian economy are calculated. The essence of CBDC (central bank digital currency) is defined as obligations of the Central Bank denominated in national currency, having a digital representation and capable of acting as a means of payment, measure and preservation of value. The results of testing the hypothesis about the effect of expanding access of commercial banks to Central Bank liabilities on the monetization ratios of the economy, providing the Russian economy with cash and the prospects for using digital currency (CBDC) are presented.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - N.I. Kiriakova
PY  - 2020
DA  - 2020/05/05
TI  - Digital Currencies of the Central Bank as a Means of Strengthening the Monetization of the Russian Economy
BT  - Proceedings of the 2nd International Scientific and Practical Conference “Modern Management Trends and the Digital Economy: from Regional Development to Global Economic Growth” (MTDE 2020)
PB  - Atlantis Press
SP  - 1155
EP  - 1159
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.200502.191
DO  - 10.2991/aebmr.k.200502.191
ID  - Kiriakova2020
ER  -