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Book Cover
E-book
Author Vashisht, Vikram, author.

Title Cash, corruption and economic development / Vikram Vashisht
Published Abingdon, Oxon ; New York, NY : Routledge, 2017

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Description 1 online resource (xvii, 124 pages)
Series Routledge focus on economics and finance
Routledge focus on economics and finance.
Contents Cover; Half Title; Series Information; Title Page; Copyright Page; Epigraph; Table of Contents; List of Illustrations; Preface; 1 We the people; Impact of corruption on development; Impact of movement of dirty money on development; Factors impacting the level of corruption; An honest bottom cannot have a corrupt top; Trade brings economic development; Development has to be sustainable; 2 Corruption no more; Impact of transition on corruption; Impact of transition on economic development; How are payments made after transition to a paper currency-free economy?; Transfer of money
The use of fake currency; Our fight against crime; Our right to privacy of information; The sellers of contraband; Collection of tax revenue; Solutions for the visually impaired, elderly and those who may lack literacy; The threat of digital fraud; The threat of digital fraud -- cont'd; The transition does not need smartphones or computers; You can travel alone; An active step; 3 The technicalities; Partial or complete transition; The cost of transition; Factors influencing transition; Ability to open a bank account with a fake identity; The speed of processing
Development of alternative currencies; The legal tender; The electronic currency; The electronic currency account; The rolling out of the system; The rolling out of the system -- cont'd; Why does a central bank need the ability to monitor the electronic currency accounts of banks in real time?; How is the authenticity of electronic currency verified?; Recalling and replacement of paper currency -- the most important factor for transition; Recalling and replacement procedure -- cont'd 1; Recalling and replacement procedure -- cont'd 2; Recalling and replacement procedure -- cont'd 3
Recalling and replacement procedure -- cont'd 4; Recalling and replacement procedure -- cont'd 5; Need for paper currency to settle international transactions; Which currency is used and which bank accounts are affected when entities settle their transactions?; Undirectional conversion needs oversight and direction; Platforms for the electronic transfer of money; How will criminals evade the system?; Central bank is in the centre; The choice rests with us; Index
Summary Cash, Corruption and Economic Development examines the causes of corruption and crime and highlights what brings comfort to all those who accept bribes and kickbacks, arguing that it is paper currency because it does not leave a signature of its movement from one entity to another. The author proposes that today, with the technology available, we can make the transition to a paper currency-free economy, which will help reduce corruption and crime and give a boost to economic development. The book analyses the causes of corruption and presents a replacement for the current model, to be implemented by a central bank and followed by banks operating within its jurisdiction
Bibliography Includes bibliographical references and index
Subject Corruption -- Economic aspects
Bribery -- Economic aspects
Economic development -- Moral and ethical aspects.
SOCIAL SCIENCE -- Criminology.
Bribery -- Economic aspects
Economic development -- Moral and ethical aspects
Form Electronic book
ISBN 9781351663458
1351663453
9781351663441
1351663445
9781315160788
1315160781
9781351663434
1351663437