政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/140338
English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 113648/144635 (79%)
Visitors : 51587517      Online Users : 787
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
    •  Adv. Search
    Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer Goto mobile version


    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/140338


    Title: Policy Responses to Cross-border Central Bank Digital Currencies – Assessing the Transborder Effects of Digital Yuan
    Authors: 陳秉逵
    Chen, Ping-Kuei
    Tsang, Cheng-Yun
    臧正運
    Contributors: 國際事務學院
    Keywords: CBDC;Central Bank Digitial Currency;Digital Yuan;BRI;cross-border CDBC;mCBDC;spillover effects
    Date: 2022-04
    Issue Date: 2022-06-23 09:48:39 (UTC+8)
    Abstract: Current literature on central bank digital currencies (CBDCs) generally focuses on regulatory issues in the domestic context. This paper discusses the challenges when a CBDC circulates across national borders. It addresses three cross-border spillover effects of the CBDC: the crowding out effect on local currency; challenges to capital control for regulators; and infringement of user privacy. The paper posits the Digital Yuan as the sample on which spillover effects can be assessed as it is circulated beyond its borders. It is estimated that the major fund receivers of the Belt and Road Initiative (BRI), and China’s neighbors, are most likely to be affected by the Digital Yuan. These countries will benefit from convenient, efficient, and secure transactions as the Digital Yuan circulates. But they may face problems when the Digital Yuan becomes widely used in local markets. They will find it difficult to control or monitor the flow of the Digital Yuan, and will have to take measures to protect the privacy of their domestic users. The authors therefore propose unilateral, bilateral, and multilateral strategies to cope with the corresponding spillover effects. The paper’s analysis suggests that the adverse effects of the cross-border uses of CBDCs canCurrent literature on central bank digital currencies (CBDCs) generally focuses on regulatory issues in the domestic context. This paper discusses the challenges when a CBDC circulates across national borders. It addresses three cross-border spillover effects of the CBDC: the crowding out effect on local currency; challenges to capital control for regulators; and infringement of user privacy. The paper posits the Digital Yuan as the sample on which spillover effects can be assessed as it is circulated beyond its borders. It is estimated that the major fund receivers of the Belt and Road Initiative (BRI), and China’s neighbors, are most likely to be affected by the Digital Yuan. These countries will benefit from convenient, efficient, and secure transactions as the Digital Yuan circulates. But they may face problems when the Digital Yuan becomes widely used in local markets. They will find it difficult to control or monitor the flow of the Digital Yuan, and will have to take measures to protect the privacy of their domestic users. The authors therefore propose unilateral, bilateral, and multilateral strategies to cope with the corresponding spillover effects. The paper’s analysis suggests that the adverse effects of the cross-border uses of CBDCs can be addressed and mitigated by adequate institutional design, and by multilateral coordination efforts.
    Relation: Capital Markets Law Journal, Vol.17, No.2, pp.237-261
    Data Type: article
    DOI link: https://doi.org/10.1093/cmlj/kmac004
    DOI: 10.1093/cmlj/kmac004
    Appears in Collections:[College of International Affairs] Periodical Articles
    [College of Law] Periodical Articles

    Files in This Item:

    File Description SizeFormat
    index.html0KbHTML2313View/Open


    All items in 政大典藏 are protected by copyright, with all rights reserved.


    社群 sharing

    著作權政策宣告 Copyright Announcement
    1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
    The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

    2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
    NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - Feedback