Professor Lin Cong’s Paper is Accepted and Published in International Level-A+ Journal, Focusing on Strategic Digitization in Currency and Payment Competition | Academics

Release time：2025-04-18    

FISF MARCOM  April 18^th 2025 18:20  Shanghai

The paper entitled “Strategic Digitization in Currency and Payment Competition” coauthored by Lin Cong, Distinguished Professor in Economics at FISF, and his partner Simon Mayer was accepted and published in the international Level-A+ Journal, Journal of Financial Economics, and was approaching print date. This was one of the five papers of Professor Cong that had been accepted and published on level-A+ or A journals.

教授介绍

Professor Introduction

丛林

Lin Cong

复旦大学国际金融学院经济学特聘教授

Distinguished Professor in Economics at FISF

Main contents of the paper:

We model the competition between digital forms of fiat money and private digital money. Countries digitize their currencies–by upgrading existing or launching new payment systems (including CBDCs)–to compete with foreign fiat currencies and private digital money. When observed a pecking order emerges: less dominant currencies digitize earlier, reflecting a first-mover advantage; dominant currencies delay digitization until they face competition; the weakest currencies forgo digitization. However, delayed digitization allows private digital money to gain widespread adoption, eventually weakening fiat money’s role. We highlight how geopolitical considerations, stablecoins, and interoperability between fiat and private digital money shape the dynamics of currency competition.

FISF

Ever since establishment, FISF has witnessed 39 professors publishing a total of 173 papers in world-famous academic journals, among which 121 academic papers were published in international level-A journals (including A+, A and A-). The teaching team of the school has always upheld the school motto of “Unified FISF, Excellence, Responsibility, Innovation”, devoting themselves wholeheartedly to the academic research work. They manage to maintain a high level of academic achievements in both quantity and quality, which fully reflects the excellent strength of the teaching team of FISF in the field of academic research. In the future, FISF will keep on pursuing international cutting-edge scientific research achievements and continue to make greater contributions to the promotion of first-class financial and economic disciplines.