RESEARCH ON THE PRACTICE OF DIGITAL CURRENCY IN CHINA

This dissertation focuses on the proper understanding of digital currencies, its impact on a country’s economy, and how to design and regulate digital currencies. First, we review the current literature on digital currency and discuss the shortcomings of existing research. Second, we focus on the development of monetary forms, digital monetary forms, and the attribution of minting power. Third, we discuss the issue of the attribution of monetary issuance power, taking into account three major factors, that is the laws of historical evolution, the political and ideological demands of the state, and the ability to perform monetary functions (the core of which is the stability of currency values). Furthermore, we conduct an empirical analysis on the impact of Central bank digital currency (CBDC) on the money policy in China. We find that the use of digital money leads to higher inflation, but the effect is not significant. Finally, we discuss the design frameworks and regulatory ideas of digital currency. On this basis, we propose a reference framework for Central bank digital currency (CBDC) design in China, identify the risks of private digital currencies, and put forward corresponding regulatory recommendations.

Grantor dc:publisher

Temple University. Libraries

Year dc:date.issued

2023

Author dc:creator

• Zheng, LianFa

Advisor dc:contributor.advisor

• Mao, Connie X.

Committee members dc:contributor.committeemember

• Gao Bakshi, Xiaohui
• Li, Yan
• Kong, Guangwen

• Finance
• Central bank digital currency (CBDC)
• Design framework
• Digital currency
• RMB policy

Statement dc:rights

• IN COPYRIGHT- This Rights Statement can be used for an Item that is in copyright. Using this statement implies that the organization making this Item available has determined that the Item is in copyright and either is the rights-holder, has obtained permission from the rights-holder(s) to make their Work(s) available, or makes the Item available under an exception or limitation to copyright (including Fair Use) that entitles it to make the Item available.

Licence dc:rights.uri

• http://rightsstatements.org/vocab/InC/1.0/

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/20.500.12613/9567

OAI identifier oai:identifier

oai:scholarshare.temple.edu:20.500.12613/9567