Central bank digital currency: A systematic literature review using text mining approach

Yen Hai Hoang, Vu Minh Ngo and Ngoc Bich Vu

Research in International Business and Finance, 2023, vol. 64, issue C

Abstract: Central bank digital currency (CBDC) is seen as a possible next step in the evolution of money, offering a more stable unit of account, a more efficient medium of exchange, and a safer way to store value. However, since it began to get significant attention from academics and practitioners a few years ago, many concerns about how a central bank may build an efficient CBDC and how it would impact a country's current financial system still remain unanswered satisfactorily. Based on the combination of text mining and systematic review methods, this work presents a thorough literature assessment of 191 academic papers on CBDC in order to identify major research issues and knowledge gaps that may be addressed in the future. We find seven primary research themes linked to CBDC including (1) Central bank, (2) CBDC and other digital currency, (3) CBDC and money markets, (4) CBDC and monetary policy, (5) CBDC design and technologies, (6) CBDC and payment system, and (7) CBDC and financial stability and regulatory. The finding helps provide both overall and in-depth views of the current state of research in digital fiat currency topics, as well as drawing some important implications and suggestions on directions for the future research.

Keywords: Central bank digital currency; CBDC; Literature review; Text mining; Frequency analysis; Topic modeling; Blockchain (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0275531923000156
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:64:y:2023:i:c:s0275531923000156

DOI: 10.1016/j.ribaf.2023.101889

Access Statistics for this article

Research in International Business and Finance is currently edited by T. Lagoarde Segot

More articles in Research in International Business and Finance from Elsevier
Bibliographic data for series maintained by Catherine Liu ().