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The Emergence of Digital Money and Globalization

Authors
  • Hueber, Olivier
  • Longhi, Christian
Publication Date
Mar 12, 2003
Source
HAL-UPMC
Keywords
Language
English
License
Unknown
External links

Abstract

The diffusion of digital money makes a great impact on globalisation of markets. First of all, the emerging electronic payments systems alter the functioning of monetary and financial markets. Such an alteration has repercussions on other forms of markets. It is not possible to predict how fast money innovations will change the international organisation of markets. Nevertheless, we can evaluate the potential changes. Two points : * Money innovations have a tend both to reduce the role of central banks and to promote the emergence of international private moneys. In that sense globalisation of money markets has to be studied. * Money innovations rapidly reduce transaction costs allowing a wider variety of goods and services to be exchanged very quickly.

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