<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The purpose of the research is to offer a comparative analysis of a libertarian and gradual approach to introducing a market interest rate. The topic is time-relevant since the economies of the emerging markets today face difficult challenges posed by economic, financial and health-care crises, impending price stability, future growth and money market equilibrium. A digital currency is a special issue today due to the outbreak of covid-19, which has made many central banks think about contactless means of payment. The author revealed policy tools to circulate a hypothetical digital currency for the BRICS, including a shared interest rate and the quantity of digital money in circulation needed for the penta-lateral use. The theoretical significance is that the research tries to lay the foundation for a model to launch a virtual regional money market for the countries of the BRICS as well as their partners in wider parts of Europe and Asia. In practical terms, the article recommends a number of tools for monetary policy to deal with the coronavirus crisis of 2020.</p>
</abstract>

The purpose of the research is to offer a comparative analysis of a libertarian and gradual approach to introducing a market interest rate. The topic is time-relevant since the economies of the emerging markets today face difficult challenges posed by economic, financial and health-care crises, impending price stability, future growth and money market equilibrium. A digital currency is a special issue today due to the outbreak of covid-19, which has made many central banks think about contactless means of payment. The author revealed policy tools to circulate a hypothetical digital currency for the BRICS, including a shared interest rate and the quantity of digital money in circulation needed for the penta-lateral use. The theoretical significance is that the research tries to lay the foundation for a model to launch a virtual regional money market for the countries of the BRICS as well as their partners in wider parts of Europe and Asia. In practical terms, the article recommends a number of tools for monetary policy to deal with the coronavirus crisis of 2020.

The Model of a Shared Interest Rate for a Group of Countries to Circulate a Digital Currency: Featuring the BRICS

Financial University under the Government of the Russian Federation

Journal of Central Banking Theory and Practice

This work is licensed under the Creative Commons Attribution 4.0 International License.

The purpose of the research is to offer a comparative analysis of a libertarian and gradual approach to introducing a market interest rate. The topic is...

The Model of a Shared Interest Rate for a Group of Countries to Circulate a Digital Currency: Featuring the BRICS

Published Online: Apr 30, 2022

Page range: 187 - 208

Received: Nov 15, 2020

Accepted: Jun 01, 2021

DOI: https://doi.org/10.2478/jcbtp-2022-0019

Keywords
BRICS, digital currency, virtual money market, shared interest rate, liberal and gradualist approaches, credit surplus, digital money revenue

© 2022 Mikhail V. Zharikov, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

The Model of a Shared Interest Rate for a Group of Countries to Circulate a Digital Currency: Featuring the BRICS

Published Online: Apr 30, 2022

Page range: 187 - 208

Received: Nov 15, 2020

Accepted: Jun 01, 2021

DOI: https://doi.org/10.2478/jcbtp-2022-0019

KeywordsBRICS, digital currency, virtual money market, shared interest rate, liberal and gradualist approaches, credit surplus, digital money revenue

© 2022 Mikhail V. Zharikov, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Keywords
BRICS, digital currency, virtual money market, shared interest rate, liberal and gradualist approaches, credit surplus, digital money revenue