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Monetary Innovations and Digital Economy

Author

Listed:
  • A. Bystryakov
  • Nikolay Nenovsky

    (CRIISEA - Centre de Recherche sur les Institutions, l'Industrie et les Systèmes Économiques d'Amiens - UR UPJV 3908 - UPJV - Université de Picardie Jules Verne)

  • E. Ponomarenko

Abstract

This article discusses the main changes in the field of digital and cryptocurrencies, as well as their interpretation from the standpoint of the common theory of money (e.g. the definition of monetary functions). The consequences of the central banks' monetary policies as well as their reaction by launching their own digital currency (central bank digital currency/CBDC) have also been dwelt upon. The possible changes in the global currency system have been outlined. Special attention has been paid to the development of higher economic education as a result of the new monetary and financial technologies and the digital economy. These topics have been set forth against the background of the experience of different countries (with a particular emphasis on Russia's practice), as well as by summarizing leading research and publications in the field. \textcopyright 2019, Bulgarska Akademiya na Naukite. All rights reserved.

Suggested Citation

  • A. Bystryakov & Nikolay Nenovsky & E. Ponomarenko, 2019. "Monetary Innovations and Digital Economy," Post-Print hal-03680620, HAL.
    • Handle: RePEc:hal:journl:hal-03680620
    as

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    References listed on IDEAS

    as
    1. Nikolay Nenovsky, 2009. "On Money as an Institution," ICER Working Papers 12-2009, ICER - International Centre for Economic Research.
    2. Carlos Rodríguez & Carlos A. Carrasco, 2016. "ECB Policy Responses between 2007 and 2014: A Chronological Analysis and an Assessment of Their Effects," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 63(4), pages 455-473, September.
    3. Mr. Dong He & Mr. Ross B Leckow & Mr. V. Haksar & Mr. Tommaso Mancini-Griffoli & Nigel Jenkinson & Ms. Mikari Kashima & Mr. Tanai Khiaonarong & Ms. Celine Rochon & Hervé Tourpe, 2017. "Fintech and Financial Services: Initial Considerations," IMF Staff Discussion Notes 2017/005, International Monetary Fund.
    4. Dong He & Ross B Leckow & Vikram Haksar & Tommaso Mancini Griffoli & Nigel Jenkinson & Mikari Kashima & Tanai Khiaonarong & Celine Rochon & Hervé Tourpe, 2017. "Fintech and Financial Services; Initial Considerations," IMF Staff Discussion Notes 17/05, International Monetary Fund.
    5. Benjamin J. Cohen, 2015. "Currency Power: Understanding Monetary Rivalry," Economics Books, Princeton University Press, edition 1, number 10577.
    6. Michael Woodford, 2000. "Monetary Policy in a World Without Money," International Finance, Wiley Blackwell, vol. 3(2), pages 229-260, July.
    7. Eichengreen, Barry, 1996. "Golden Fetters: The Gold Standard and the Great Depression, 1919-1939," OUP Catalogue, Oxford University Press, number 9780195101133.
    8. Chimienti, Maria Teresa & Kochanska, Urszula & Pinna, Andrea, 2019. "Understanding the crypto-asset phenomenon, its risks and measurement issues," Economic Bulletin Articles, European Central Bank, vol. 5.
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    Cited by:

    1. Rumen Gechev & Ivailo Beev & Yanko Hristozov, 2020. "Expected Effects of the Euro Adoption in Bulgaria," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 19-44.

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    More about this item

    JEL classification:

    • A2 - General Economics and Teaching - - Economic Education and Teaching of Economics
    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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