{"id":"https://openalex.org/W4286278010","doi":"https://doi.org/10.21098/bemp.v25i1.1979","title":"CENTRAL BANK DIGITAL CURRENCY: WHAT FACTORS DETERMINE ITS ADOPTION?","display_name":"CENTRAL BANK DIGITAL CURRENCY: WHAT FACTORS DETERMINE ITS ADOPTION?","publication_year":2022,"publication_date":"2022-06-20","ids":{"openalex":"https://openalex.org/W4286278010","doi":"https://doi.org/10.21098/bemp.v25i1.1979"},"language":"en","primary_location":{"id":"doi:10.21098/bemp.v25i1.1979","doi":"https://doi.org/10.21098/bemp.v25i1.1979","is_oa":true,"landing_page_url":"https://doi.org/10.21098/bemp.v25i1.1979","pdf_url":null,"source":{"id":"https://openalex.org/S4210240883","display_name":"Bulletin of Monetary Economics and Banking","issn_l":"1410-8046","issn":["1410-8046","2460-9196"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["abdc-c","doaj","poland-20","russia-white-list-2"],"host_organization":"https://openalex.org/P4310315001","host_organization_name":"Bank Indonesia","host_organization_lineage":["https://openalex.org/P4310315001"],"host_organization_lineage_names":["Bank Indonesia"],"type":"journal"},"license":"cc-by-nc","license_id":"https://openalex.org/licenses/cc-by-nc","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Buletin Ekonomi Moneter dan Perbankan","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"diamond","oa_url":"https://doi.org/10.21098/bemp.v25i1.1979","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5023630840","display_name":"Novi Maryaningsih","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I202899961","display_name":"Bank Indonesia","ror":"https://ror.org/049krfp54","country_code":"ID","type":"other","lineage":["https://openalex.org/I202899961"]}],"countries":["ID"],"is_corresponding":false,"raw_author_name":"Novi Maryaningsih","raw_affiliation_strings":["Bank Indonesia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Bank Indonesia","institution_ids":["https://openalex.org/I202899961"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5032524069","display_name":"Suahasil Nazara","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I29617571","display_name":"University of Indonesia","ror":"https://ror.org/0116zj450","country_code":"ID","type":"education","lineage":["https://openalex.org/I29617571"]}],"countries":["ID"],"is_corresponding":false,"raw_author_name":"Suahasil Nazara","raw_affiliation_strings":["Universitas Indonesia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Universitas Indonesia","institution_ids":["https://openalex.org/I29617571"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5150074659","display_name":"Febrio Nathan Kacaribu","orcid":"https://orcid.org/0000-0002-3217-115X","observed_orcids":["https://orcid.org/0000-0002-3217-115X"]},"institutions":[{"id":"https://openalex.org/I29617571","display_name":"University of Indonesia","ror":"https://ror.org/0116zj450","country_code":"ID","type":"education","lineage":["https://openalex.org/I29617571"]}],"countries":["ID"],"is_corresponding":false,"raw_author_name":"Febrio Nathan Kacaribu","raw_affiliation_strings":["Universitas Indonesia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Universitas Indonesia","institution_ids":["https://openalex.org/I29617571"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5024961292","display_name":"Solikin M. Juhro","orcid":"https://orcid.org/0000-0002-9405-8371","observed_orcids":["https://orcid.org/0000-0002-9405-8371"]},"institutions":[{"id":"https://openalex.org/I202899961","display_name":"Bank Indonesia","ror":"https://ror.org/049krfp54","country_code":"ID","type":"other","lineage":["https://openalex.org/I202899961"]}],"countries":["ID"],"is_corresponding":false,"raw_author_name":"Solikin M Juhro","raw_affiliation_strings":["Bank Indonesia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Bank Indonesia","institution_ids":["https://openalex.org/I202899961"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":9.3266,"has_fulltext":false,"cited_by_count":65,"citation_normalized_percentile":{"value":0.98082177,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":99,"max":100},"biblio":{"volume":"25","issue":"1","first_page":"1","last_page":"24"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11995","display_name":"FinTech, Crowdfunding, Digital Finance","score":0.4738999903202057,"subfield":{"id":"https://openalex.org/subfields/1404","display_name":"Management Information Systems"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11995","display_name":"FinTech, Crowdfunding, Digital Finance","score":0.4738999903202057,"subfield":{"id":"https://openalex.org/subfields/1404","display_name":"Management Information Systems"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13346","display_name":"Digital Transformation in Financial Services","score":0.28999999165534973,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10270","display_name":"Blockchain Technology Applications and Security","score":0.11140000075101852,"subfield":{"id":"https://openalex.org/subfields/1710","display_name":"Information Systems"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/central-bank-digital-currency","display_name":"central bank digital currency","score":0.9990000128746033},{"id":"https://openalex.org/keywords/cbdc-adoption","display_name":"CBDC adoption","score":0.9940000176429749},{"id":"https://openalex.org/keywords/wholesale-cbdc","display_name":"wholesale CBDC","score":0.9729999899864197},{"id":"https://openalex.org/keywords/retail-cbdc","display_name":"retail CBDC","score":1.0},{"id":"https://openalex.org/keywords/cross-border-transactions","display_name":"cross-border transactions","score":0.8140000104904175},{"id":"https://openalex.org/keywords/financial-inclusion","display_name":"financial inclusion","score":0.8569999933242798},{"id":"https://openalex.org/keywords/informal-economy","display_name":"informal economy","score":0.9900000095367432},{"id":"https://openalex.org/keywords/financial-market-development","display_name":"financial market development","score":0.9390000104904175},{"id":"https://openalex.org/keywords/electronic-payments","display_name":"digital payments","score":0.4350000023841858}],"concepts":[{"id":"https://openalex.org/C48220719","wikidata":"https://www.wikidata.org/wiki/Q10836209","display_name":"Digital currency","level":3,"score":0.8325492143630981},{"id":"https://openalex.org/C2779251847","wikidata":"https://www.wikidata.org/wiki/Q60852","display_name":"Financial inclusion","level":3,"score":0.7303674221038818},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6579729318618774},{"id":"https://openalex.org/C141121606","wikidata":"https://www.wikidata.org/wiki/Q8142","display_name":"Currency","level":2,"score":0.595150887966156},{"id":"https://openalex.org/C121087249","wikidata":"https://www.wikidata.org/wiki/Q546395","display_name":"Emerging markets","level":2,"score":0.573857307434082},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.4319501519203186},{"id":"https://openalex.org/C54750564","wikidata":"https://www.wikidata.org/wiki/Q26643","display_name":"Commerce","level":1,"score":0.3537813425064087},{"id":"https://openalex.org/C18547055","wikidata":"https://www.wikidata.org/wiki/Q47417","display_name":"International economics","level":1,"score":0.34392380714416504},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.31871891021728516},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.28701257705688477},{"id":"https://openalex.org/C139043278","wikidata":"https://www.wikidata.org/wiki/Q837171","display_name":"Financial services","level":2,"score":0.20819151401519775},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.17801687121391296}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.21098/bemp.v25i1.1979","doi":"https://doi.org/10.21098/bemp.v25i1.1979","is_oa":true,"landing_page_url":"https://doi.org/10.21098/bemp.v25i1.1979","pdf_url":null,"source":{"id":"https://openalex.org/S4210240883","display_name":"Bulletin of Monetary Economics and Banking","issn_l":"1410-8046","issn":["1410-8046","2460-9196"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["abdc-c","doaj","poland-20","russia-white-list-2"],"host_organization":"https://openalex.org/P4310315001","host_organization_name":"Bank Indonesia","host_organization_lineage":["https://openalex.org/P4310315001"],"host_organization_lineage_names":["Bank Indonesia"],"type":"journal"},"license":"cc-by-nc","license_id":"https://openalex.org/licenses/cc-by-nc","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Buletin Ekonomi Moneter dan Perbankan","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:idn:journl:v:25:y:2022:i:1a:p:1-24","doi":null,"is_oa":false,"landing_page_url":"https://bulletin.bmeb-bi.org/cgi/viewcontent.cgi?article=1880&context=bmeb","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:doaj.org/article:0ea2bcd933d14b1c90d90c5db50ba5e9","doi":null,"is_oa":true,"landing_page_url":"https://doaj.org/article/0ea2bcd933d14b1c90d90c5db50ba5e9","pdf_url":null,"source":{"id":"https://openalex.org/S4306401280","display_name":"DOAJ (DOAJ: Directory of Open Access Journals)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Buletin Ekonomi Moneter dan Perbankan, Vol 25, Iss 1, Pp 1-24 (2022)","raw_type":"article"}],"best_oa_location":{"id":"doi:10.21098/bemp.v25i1.1979","doi":"https://doi.org/10.21098/bemp.v25i1.1979","is_oa":true,"landing_page_url":"https://doi.org/10.21098/bemp.v25i1.1979","pdf_url":null,"source":{"id":"https://openalex.org/S4210240883","display_name":"Bulletin of Monetary Economics and Banking","issn_l":"1410-8046","issn":["1410-8046","2460-9196"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["abdc-c","doaj","poland-20","russia-white-list-2"],"host_organization":"https://openalex.org/P4310315001","host_organization_name":"Bank Indonesia","host_organization_lineage":["https://openalex.org/P4310315001"],"host_organization_lineage_names":["Bank Indonesia"],"type":"journal"},"license":"cc-by-nc","license_id":"https://openalex.org/licenses/cc-by-nc","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Buletin Ekonomi Moneter dan Perbankan","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W7164881491","https://openalex.org/W4388723724","https://openalex.org/W4384130711","https://openalex.org/W4406401153","https://openalex.org/W7153897736","https://openalex.org/W4409141133","https://openalex.org/W7155698661","https://openalex.org/W4391836883","https://openalex.org/W4414847347","https://openalex.org/W4405486418"],"abstract_inverted_index":{"This":[0],"paper":[1],"attempts":[2],"to":[3],"explain":[4],"the":[5,82],"differences":[6],"in":[7,37,52],"Central":[8],"Bank":[9],"Digital":[10],"Currency":[11],"(CBDC)":[12],"adoption":[13,72,89],"across":[14,73,90],"emerging":[15,74,91],"and":[16,43,58,75,92],"advanced":[17,36,51,76,93],"countries":[18,38,53],"using":[19],"an":[20],"ordered":[21],"probit":[22],"model.":[23],"Based":[24],"on":[25],"a":[26,59],"cross-country":[27],"dataset,":[28],"we":[29],"show":[30,65],"that":[31,66],"wholesale":[32,87],"CBDC":[33,48,71,88],"is":[34,49],"more":[35,50],"with":[39,54],"developed":[40],"financial":[41,56],"markets":[42],"greater":[44],"cross-border":[45,79],"transactions.":[46],"Retail":[47],"lower":[55],"inclusion":[57],"large":[60],"informal":[61],"economy.":[62],"We":[63],"further":[64],"different":[67],"factors":[68],"affect":[69],"retail":[70],"countries.":[77,94],"However,":[78],"transactions":[80],"are":[81],"most":[83],"crucial":[84],"factor":[85],"influencing":[86]},"counts_by_year":[{"year":2026,"cited_by_count":16},{"year":2025,"cited_by_count":23},{"year":2024,"cited_by_count":13},{"year":2023,"cited_by_count":13}],"updated_date":"2026-11-07T11:25:07.637180","created_date":"2022-07-21T00:00:00"}