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Financial Analytics: Science and Experience
 

Exploring the prospects for digital currencies introduction by Central Banks

Vol. 18, Iss. 1, MARCH 2025

Received: 2 November 2024

Accepted: 13 December 2024

Available online: 27 February 2025

Subject Heading: FINANCIAL INSTRUMENTS

JEL Classification: E51, E52, E58

Pages: 4-20

https://doi.org/10.24891/fa.18.1.4

Ekaterina V. KOROLEVA Peter the Great St. Petersburg Polytechnic University, St. Petersburg, Russian Federation
koroleva_ev@spbstu.ru

https://orcid.org/0000-0003-2640-5906

Ekaterina I. IGNATIKOVA Peter the Great St. Petersburg Polytechnic University, St. Petersburg, Russian Federation
ignatikova.ei@edu.spbstu.ru

ORCID id: not available

Ekaterina V. SERGEEVA Peter the Great St. Petersburg Polytechnic University, St. Petersburg, Russian Federation
sergeeva.ev@edu.spbstu.ru

ORCID id: not available

Subject. The article addresses the possibility of launching national digital currencies by central banks.
Objectives. The study aims to identify factors of country's ecosystem that have a statistically significant impact on the introduction of digital currency.
Methods. The calculations were performed by constructing econometric models (logit model, SVC model), using the Google Colab programming environment for two dependent variables characterizing the state of the digital currency implementation project.
Results. The study confirmed the hypothesis about the impact of country's ecosystem on the introduction of digital currency. It also revealed that the following factors have a significant impact on this process: formal institutions, culture, interaction, demand, financing, and intermediary services.
Conclusions. The findings can be used to develop strategies and policies for successful implementation and management of digital currencies by central banks.

Keywords: digital currency, central bank, country ecosystem

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ISSN 2311-8768 (Online)
ISSN 2073-4484 (Print)

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