Bridging gaps: a theoretical framework for central bank investments in payment systems

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dc.contributor.MentorQuesada, Lucía
dc.creator.AutorOchoa, Gonzalo Agustín
dc.date.accessioned2025-09-24T17:25:52Z
dc.date.available2025-09-24T17:25:52Z
dc.date.issued2025-08
dc.descriptionFil: Ochoa, Gonzalo Agustín. Universidad de San Andrés. Departamento de Economía; Argentina.
dc.description.abstractThis work develops a theoretical framework in which the central bank acts as a utilitymaximizing agent that introduces a new payment system to promote financial inclusion, inspired by Brazil’s Pix. The central bank chooses both the investment level and the fee charged to users. The model shows that these decisions depend on several factors, including the relative benefits for buyers and sellers between the new system and traditional banking, and an exogenous political parameter: the priority given to financial inclusion. The analysis identifies a critical point at which financial inclusion objectives balance the trade-offs between investment and pricing. The model offers insights into how central banks design and implement payment systems aimed at increasing financial inclusion, highlighting the role of policy priorities in shaping outcomes.
dc.formatapplication/pdf
dc.identifier.urihttps://repositorio.udesa.edu.ar/handle/10908/25786
dc.languageeng
dc.publisherUniversidad de San Andrés. Departamento de Economía
dc.rightsinfo:eu-repo/semantics/openAccess
dc.rightshttps://creativecommons.org/licenses/by-nc-nd/4.0/
dc.titleBridging gaps: a theoretical framework for central bank investments in payment systems
dc.typeTesis
dc.typeinfo:eu-repo/semantics/masterThesis
dc.typeinfo:ar-repo/semantics/tesis de maestría
dc.typeinfo:eu-repo/semantics/updatedVersion
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