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Digital Currencies: Knowledge, Perceptions and Financial Stability Implications among Romanian Central Bankers

Author

Listed:
  • Bogdan Cristian Buzuriu

    (Doctoral School, Faculty of Business and Administration, West University of Timisoara, Timisoara, Romania & Management Department, Politehnica University of Timisoara, Timisoara, Romania)

  • Claudiu Tiberiu Albulescu

    (Management Department, Politehnica University of Timisoara, Timisoara, Romania)

Abstract

The purpose of the study is twofold. On the one hand, we investigate the determinants of knowledge related to central bank digital currencies (CBDCs) among Romanian central bankers. On the other hand, we assess the perceived impact of CBDCs on financial stability. More precisely, we designed a survey-based analysis applied to Romanian central bankers to see, first, to what extent personal characteristics, sources of information, interest in using CBDCs, and the benefits and risks associated with them, influence respondents’ perceptions of their own level of CBDC-related knowledge. Second, we investigate to what extent the interest in using CBDCs, their associated benefits and risks, and the trust in the central bank, affect the level of financial stability once a CBDC is fully launched. Our analysis relies on a questionnaire with 256 valid responses. The cross-sectional regression analysis shows that age and education do not exert a significant impact on the perceived level of knowledge about CBDCs. By contrast, respondents in managerial positions, those involved in monetary policy and financial stability divisions, or those working at the NBR’s Central Headquarters, reported more in-depth knowledge of CBDCs. In addition, the results show that the interest in using CBDCs, as well as the perceived credibility of the central bank, are associated with a positive impact of CBDCs on financial stability.

Suggested Citation

  • Bogdan Cristian Buzuriu & Claudiu Tiberiu Albulescu, 2026. "Digital Currencies: Knowledge, Perceptions and Financial Stability Implications among Romanian Central Bankers," Economic Research Guardian, Mutascu Publishing, vol. 16(1), pages 84-101, June.
    • Handle: RePEc:wei:journl:v:16:y:2026:i:1:p:84-101
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    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Systems; Standards; Regimes; Government and the Monetary System
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • 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

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