Central bank digital currency, financial technology level and regional financial stability

被引：3
作者：
Meng, Yuqun [1 ]
Wu, Junxian [2 ,3 ]
Tu, Yongqian [4 ,5 ]
机构：
[1] Southwest Univ Polit Sci & Law, Sch Int Law, Chongqing 401120, Peoples R China
[2] Univ Melbourne, Melbourne Business Sch, Melbourne 3010, Australia
[3] Shandong Univ, Coll Econ, Jinan 250100, Shandong, Peoples R China
[4] Yili Normal Univ, Law Sch, Yining 835000, Xinjiang, Peoples R China
[5] Renmin Univ China, Sch Labour & Human Resources, Beijing 100872, Peoples R China
来源：
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE | 2024年 / 96卷
关键词：
Central bank digital currencies; Regional financial stability; Level of financial technology; Digital yuan pilot policy;
D O I：
10.1016/j.iref.2024.103598
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This study delves into the relationship between the issuance of central bank digital currencies (CBDCs) and regional financial stability. Through empirical analysis, we find that the pilot policy of digital yuan has a significant positive impact on financial stability. Further analysis of regional heterogeneity reveals that cities in central and western China, which have a weaker financial foundation, experience more pronounced improvements in financial stability under the digital yuan pilot compared to eastern regions. Additionally, the level of financial technology plays a crucial moderating role in enhancing the effects of the digital yuan pilot policy, particularly in central and western regions. These findings provide valuable insights for policymakers, aiding in the more precise and efficient promotion of digital currency pilots and related financial technology development.
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页数：9
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