Vikram Vashisht

Cash, Corruption and Economic Development (eBook, ePUB)

• Format: ePub

Produktbeschreibung

This book examines the causes of corruption and crime and highlights the cause of comfort to all those who accept bribes and kickbacks. The comfort is paper currency because it does not leave a signature of its movement from one entity to the other. Today, with the technology available, we can make the transition to a paper currency free economy, which will help stop corruption and crime and will give a boost to economic development.This book analyses the cause of corruption and presents a model to replace the present model, a model to be implemented by the central bank of the country which is making the transition and followed by the banks operating within that jurisdiction.

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Produktdetails

• Verlag: Taylor & Francis
• Seitenzahl: 142
• Erscheinungstermin: 18. Mai 2017
• Englisch
• ISBN-13: 9781351663441
• Artikelnr.: 48418136

Autorenporträt

Vikram Vashisht is a Certified Practising Accountant (CPA), Master of Accounting, Bachelor of Laws (LLB) and Bachelor of Commerce (BCom), and has previously served as a finance officer in the Australian Army.

Inhaltsangabe

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