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Multi-central bank digital currencies arrangements: a multivocal literature review

Multi-central bank digital currencies arrangements: a multivocal literature review The present study aims to systematically synthesize the academic and industrial literature on multi-central bank digital currencies (m-CBDCs) arrangements.Design/methodology/approachThe study adopted a unique multivocal literature review methodology that considers both white and grey literature. For white literature searches, the study relied on Scopus, Web of Science (WOS), and Google Scholar bibliometric databases; for grey literature searches, the study used the Google search engine.FindingsThe findings of the study illustrated that M-CBDC arrangements, through various design options, have the potential to revolutionize the contemporary international payment system. M-CBDC arrangements will lead to more integrated financial systems and promote economic growth. However, m-CBDC arrangements will also have serious macroeconomic implications, such as contagion and currency substitution risks.Research limitations/implicationsThe present review is one of the earliest reviews of m-CBDC arrangements. In addition, the findings of the study offer valuable insights for both academicians and policymakers.Originality/valueThe study is also one of the pioneer studies in management studies that apply a multivocal literature review methodology. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png China Finance Review International Emerald Publishing

Multi-central bank digital currencies arrangements: a multivocal literature review

Sood, Kirti; Singh, Simarjeet
China Finance Review International , Volume 14 (4): 29 – Nov 20, 2024
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References (163)

Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
2044-1398
DOI
10.1108/cfri-09-2023-0221
Publisher site
See Article on Publisher Site

Abstract

The present study aims to systematically synthesize the academic and industrial literature on multi-central bank digital currencies (m-CBDCs) arrangements.Design/methodology/approachThe study adopted a unique multivocal literature review methodology that considers both white and grey literature. For white literature searches, the study relied on Scopus, Web of Science (WOS), and Google Scholar bibliometric databases; for grey literature searches, the study used the Google search engine.FindingsThe findings of the study illustrated that M-CBDC arrangements, through various design options, have the potential to revolutionize the contemporary international payment system. M-CBDC arrangements will lead to more integrated financial systems and promote economic growth. However, m-CBDC arrangements will also have serious macroeconomic implications, such as contagion and currency substitution risks.Research limitations/implicationsThe present review is one of the earliest reviews of m-CBDC arrangements. In addition, the findings of the study offer valuable insights for both academicians and policymakers.Originality/valueThe study is also one of the pioneer studies in management studies that apply a multivocal literature review methodology.

Journal

China Finance Review International – Emerald Publishing

Published: Nov 20, 2024

Keywords: M-CBDC arrangements; Multivocal literature review; Digital central bank currencies; Sovereign currency; Cross-border payments (CBPs); Foreign direct investment

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