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Cashless Payments and Economic Growth: Evidence from Selected OECD Countries
Journal of Central Banking Theory and Practice ( IF 1.7 ) Pub Date : 2020-07-01 , DOI: 10.2478/jcbtp-2020-0028
Teck-Lee Wong 1 , Wee-Yeap Lau 1 , Tien-Ming Yip 1
Affiliation  

Abstract This study investigates the relationship between cashless payments and economic growth in selected OECD countries. Using annual data from 2007 to 2016, our results indicate that: Firstly, cashless payment stimulates economic growth in OECD countries. Specifically, the growth-enhancing effect is found in debit card payment while credit card, e-money and cheque payment have no impact on economic growth; Secondly, the positive relationship between economic growth and debit card payment is robust after controlling for the effect of endogeneity, omitted variable bias and outliers. Based on the findings, this study offers some imperative policy recommendations.

中文翻译:

无现金支付与经济增长:来自某些经合组织国家的证据

摘要这项研究调查了部分经合组织国家无现金支付与经济增长之间的关系。使用2007年至2016年的年度数据,我们的结果表明:首先,无现金支付刺激了经合组织国家的经济增长。具体而言,在借记卡支付中发现了促进增长的作用,而信用卡,电子货币和支票支付对经济增长没有影响。其次,在控制了内生性,遗漏变量偏差和离群值之后,经济增长与借记卡支付之间的正相关关系很强。基于这些发现,本研究提供了一些必要的政策建议。
更新日期:2020-07-01
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