Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/299047 
Year of Publication: 
2022
Citation: 
[Journal:] Journal of Central Banking Theory and Practice [ISSN:] 2336-9205 [Volume:] 11 [Issue:] 2 [Year:] 2022 [Pages:] 187-208
Publisher: 
Sciendo, Warsaw
Abstract: 
The purpose of the research is to offer a comparative analysis of a libertarian and gradual approach to introducing a market interest rate. The topic is time-relevant since the economies of the emerging markets today face difficult challenges posed by economic, financial and health-care crises, impending price stability, future growth and money market equilibrium. A digital currency is a special issue today due to the outbreak of covid-19, which has made many central banks think about contactless means of payment. The author revealed policy tools to circulate a hypothetical digital currency for the BRICS, including a shared interest rate and the quantity of digital money in circulation needed for the penta-lateral use. The theoretical significance is that the research tries to lay the foundation for a model to launch a virtual regional money market for the countries of the BRICS as well as their partners in wider parts of Europe and Asia. In practical terms, the article recommends a number of tools for monetary policy to deal with the coronavirus crisis of 2020.
Subjects: 
BRICS
digital currency
virtual money market
shared interest rate
liberal and gradualist approaches
credit surplus
digital money revenue
JEL: 
F14
F17
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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