Introducing a central Bank Digital currency: Inflation and regional features analysis
https://doi.org/10.26794/1999-849X-2026-19-4-38-47
Abstract
The study’s subject is the impact of introducing a central bank digital currency (CBDC) on the structural and dynamic characteristics of inflation. The goal of this research is to measure the consequences of introducing CBDCs, such as the digital ruble, on the monetary transmission process, the central bank’s capacity for price targeting, and inflation management, while acknowledging regional distinctions and diverse socioeconomic progress. The authors provided a thorough analysis of the CBDC phenomenon. They assessed diverse opinions regarding the scope and character of its influence on monetary transmission, and they scrutinized the capability of central banks to constrain price movements to their ultimate price target. Contrary to current scientific consensus, the study does not support the idea that monetary transmission, price dynamics, and their regional features are unaffected by introducing CBDC. This process has been linked to side effects that can either bolster or diminish monetary transmission channels. Central bank digital currency introduction’s main and subsequent effects on price changes are detailed, with regional conditions potentially altering these effects. The study indicated that the new monetary innovation’s weaknesses show the necessity of adjusting monetary policy to its circulation for inflation control, such as by reducing regional disparities. The study’s findings enabled the creation of theoretical frameworks for implementing CBDC and concluded that objective factors of regional inflation are dominant to better synchronization between monetary policy and regulatory actions designed to lessen disparities in regional development.
Keywords
central bank digital currency,
monetary policy,
monetary transmission mechanism,
inflation,
regional inflation heterogeneity,
territorial development of regions,
Bank of Russia,
inflationary risks,
regional features of price dynamics,
digital ruble
Supporting agencies: The paper was prepared on the research results carried out at the expense of budgetary funds within the framework of the state research assignment to the Financial University under the Government of the Russian Federation. Financial University under the Government of the Russian Federation, Moscow, Russian Federation.
About the Authors
M. A. Abramova
Financial University under the Government of the Russian Federation
Russian Federation
Russian Federation
Marina A. Abramova — Dr. Sci. (Econ.), Prof., Head of the Department of Banking and Monetary Regulation, Faculty of Finance, Chief Research Asscoc. of the Institute of Financial Research, Faculty of Finance
Moscow
M. T. Belova
Financial University under the Government of the Russian Federation
Russian Federation
Russian Federation
Marianna T. Belova — Cand. Sci. (Econ.), Assoc. Prof., Assoc. Prof. of the Department of Banking and Monetary Regulation, Faculty of Finance, Leader Research Assoc. of the Institute of Financial Research, Faculty of Finance
Moscow
E. V. Travkina
Financial University under the Government of the Russian Federation
Russian Federation
Russian Federation
Elena V. Travkina — Dr. Sci. (Econ.), Assoc. Prof., Prof. of the Department of Banking and Monetary Regulation, Faculty of Finance, Chief Research Assoc. of the Institute of Financial Research, Faculty of Finance
Moscow
A. B. Fiapshev
Financial University under the Government of the Russian Federation
Russian Federation
Russian Federation
Alim B. Fiapshev — Dr. Sci. (Econ.), Prof., Prof. of the Department of Banking and Monetary Regulation, Faculty of Finance, Chief Research Assoc. of the Institute of Financial Research, Faculty of Finance
Moscow
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Review
For citations:
Abramova M.A., Belova M.T., Travkina E.V., Fiapshev A.B. Introducing a central Bank Digital currency: Inflation and regional features analysis. Economics, taxes & law. 2026;19(4):38-47. (In Russ.) https://doi.org/10.26794/1999-849X-2026-19-4-38-47
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