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Challenges for central banks in a changing payments landscape

Author

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  • Iwańczuk-Kaliska Anna

    (Poznań University of Economics and Business)

Abstract

The aim of the paper is to discuss key challenges facing central banks due to evolution of payment systems. The author distinguishes two aspects of the problem. The first one considers the implications of changes in payments for the roles of central banks in national payment systems, namely their role as operators, oversight authorities and catalysts. The second question is how evolution of payment systems influences the nature of central banking. The study is based on the literature review and the analysis and assessment of the information coming from the reports of international institutions. It also uses the results of the author’s survey, which was conducted among central banks of eleven countries.

Suggested Citation

  • Iwańczuk-Kaliska Anna, 2017. "Challenges for central banks in a changing payments landscape," Financial Internet Quarterly (formerly e-Finanse), Sciendo, vol. 13(2), pages 75-86, December.
    • Handle: RePEc:vrs:finiqu:v:13:y:2017:i:2:p:75-86:n:3
    DOI: 10.1515/fiqf-2016-0024
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    References listed on IDEAS

    as
    1. Freedman, Charles, 2000. "Monetary Policy Implementation: Past, Present and Future--Will Electronic Money Lead to the Eventual Demise of Central Banking?," International Finance, Wiley Blackwell, vol. 3(2), pages 211-227, July.
    2. Manfred J. M. Neumann, 1996. "A Comparative Study of Seigniorage: Japan and Germany," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 14(1), pages 104-142, July.
    3. repec:zbw:bofrdp:2000_006 is not listed on IDEAS
    4. Edward J. Green, 1999. "Money and debt in the structure of payments," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 23(Spr), pages 13-29.
    5. Curzio Giannini, 2011. "The Age of Central Banks," Books, Edward Elgar Publishing, number 14371.
    6. Charles A. E. Goodhart, 2000. "Can Central Banking Survive the IT Revolution?," International Finance, Wiley Blackwell, vol. 3(2), pages 189-209, July.
    7. Manning, Mark & Nier, Erlend & Schanz, Jochen (ed.), 2009. "The Economics of Large-value Payments and Settlement: Theory and Policy Issues for Central Banks," OUP Catalogue, Oxford University Press, number 9780199571116.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    central banks; payments; banks;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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