How does the fintech sector react to signals from central bank digital currencies?

Zhenghui Li, Cunyi Yang and Zhehao Huang

Finance Research Letters, 2022, vol. 50, issue C

Abstract: This study analyzes how the fintech sector reacts to central bank digital currency (CBDC) signals released by central banks. First, we innovatively construct a signal index for the CBDC. Second, by collecting data from January 2012 to February 2022, the positively time-varying response of the fintech sector to the CBDC signals is found. Meanwhile, the response intensity reduces over time, thereby reflecting the weakening sensibility of the fintech sector to the CBDC signals. Third, shocks of symbolic events regarding the CBDC in the fintech sector are captured to further confirm the response to signals.

Keywords: Fintech; Central bank digital currency; Capital market; Impulse response; TVP-VAR (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (16)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:50:y:2022:i:c:s1544612322004913

DOI: 10.1016/j.frl.2022.103308

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