Description
Overview: The international monetary landscape is undergoing a transformative phase with the rise of digital currencies. This workshop aims to delve into the specific challenges and opportunities posed by digital money in developing economies, focusing on the South Asian context. With a particular emphasis on the experiences of countries like Pakistan, we invite submissions that explore the implications of Foreign Central Bank Digital Currencies (CBDC) and global stablecoins on monetary policy, economic shocks, and financial systems in the region.
Motivation: The importance of our workshop lies in addressing concerns arising in developing nations due to foreign digital money, like CBDCs and stablecoins, impacting monetary policy and economic shocks. If foreign digital money becomes more appealing, it may lead to ‘digital dollarization’ and weaken banks and policy transmission. Risks are heightened in small economies like Pakistan, where digital money could bypass capital controls, amplifying challenges in currency substitution and recession vulnerability.
Key Sub-themes:
Evaluating Spillover Effects: Assessing the potential spillover effects of digital currencies on developing countries, with a focus on South Asian nations.
Policy Responses to Digitalization: Analyzing and proposing effective policy responses to mitigate risks associated with digital currencies, considering the unique challenges faced by South Asian economies.
Role of Stablecoins in Small Economies: Investigating the role of stablecoins in small developing economies and their impact on currency substitution, monetary policy, and financial stability.
Regulating Stablecoins: Balancing Innovation and Financial Stability
The event will be a one-day workshop held in Islamabad, Pakistan, parternship with Pakistan Institute Of Development Economics (PIDE) Macro Policy Lab, primarily featuring paper presentations from the submitters. We aim to create a dynamic platform for young researchers and experts to share their perspectives and findings on the impact of stablecoins in the region. The workshop will include keynote addresses, panel discussions, and interactive sessions to foster collaboration and knowledge exchange.
We will provide accommodation and travel stipends up to a maximum for selected young scholars.
To apply, please submit an abstract with a maximum of 500 words by April 08, 2024 . Please note that once your abstract approved you need to submit a full paper by April 11, 2024. Papers will be reviewed by the scientific committee and decision will be communicated by April 17, 2024.
Paper after the due peer-review process, will be publish in the special issue of ” The Pakistan Development Review”, an international journal.
