Multi-central bank digital currencies arrangements: a multivocal literature review
Abstract
Purpose
The present study aims to systematically synthesize the academic and industrial literature on multi-central bank digital currencies (m-CBDCs) arrangements.
Design/methodology/approach
The study adopted a unique multivocal literature review methodology that considers both white and grey literature. For white literature searches, the study relied on Scopus, Web of Science (WOS), and Google Scholar bibliometric databases; for grey literature searches, the study used the Google search engine.
Findings
The findings of the study illustrated that M-CBDC arrangements, through various design options, have the potential to revolutionize the contemporary international payment system. M-CBDC arrangements will lead to more integrated financial systems and promote economic growth. However, m-CBDC arrangements will also have serious macroeconomic implications, such as contagion and currency substitution risks.
Research limitations/implications
The present review is one of the earliest reviews of m-CBDC arrangements. In addition, the findings of the study offer valuable insights for both academicians and policymakers.
Originality/value
The study is also one of the pioneer studies in management studies that apply a multivocal literature review methodology.
Keywords
Citation
Sood, K. and Singh, S. (2024), "Multi-central bank digital currencies arrangements: a multivocal literature review", China Finance Review International, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/CFRI-09-2023-0221
Publisher
:Emerald Publishing Limited
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