Stablecoins et monnaies numériques de banque centrale: un enjeu géostratégique pour le Système monétaire international

Catherine Lubochinsky and Mariana Rojas-Breu

Revue d'économie financière, 2023, vol. N° 149, issue 1, 241-255

Abstract: This article discusses the potential impact of stablecoins and central bank digital currencies (CBDC) on the international monetary system, particularly concerning the domination of the dollar. It is argued that stablecoins are likely to reinforce, rather than weaken, the dominant role of the dollar, since they are set up in a way that tends to favor an increased dollarization of private agents at the international level. Regarding CBDC, the article distinguishes between wholesale CBDC and retail CBDC. Wholesale CBDCs may affect the international monetary order because of their potential use in cross-border payments, depending on whether governments of major economies are involved in their creation. Retail CBDCs should not have a major effect on the international monetary system, but could eventually have an indirect influence, in particular through their effects on the banking sector and thereby on the relative performance of the different economies. Classification JEL: E42, E58, F33.

JEL-codes: E42 E58 F33 (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.cairn.info/load_pdf.php?ID_ARTICLE=ECOFI_149_0241 (application/pdf)
http://www.cairn.info/revue-d-economie-financiere-2023-1-page-241.htm (text/html)
restricted

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:cai:refaef:ecofi_149_0241

Access Statistics for this article

More articles in Revue d'économie financière from Association d'économie financière
Bibliographic data for series maintained by Jean-Baptiste de Vathaire ().