Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/251024 
Year of Publication: 
2021
Series/Report no.: 
Bank of Canada Staff Discussion Paper No. 2021-11
Publisher: 
Bank of Canada, Ottawa
Abstract: 
In this paper we discuss the competition and innovation arguments for issuing a central bank digital currency (CBDC). A CBDC could be an effective competition policy tool for payments. On innovation, we argue that a CBDC could be necessary to support the vibrancy of the digital economy by helping solve market failures and fostering competition and innovation in new digital payments markets. Overall, competition and innovation are supporting arguments for issuing a CBDC.
Subjects: 
Digital currencies and fintech
Financial institutions
Financial stability
JEL: 
E42
E58
L4
L5
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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