Purpose

This paper aims to examine the effect of financial technology on cash holding in Nigeria.

Design/methodology/approach

The authors use Pesaran et al.’s (2001) autoregressive distributed lag (ARDL) bounds test approach to cointegration to estimate the long-run relationship between four direct measures of financial technology (automated teller machine [ATM], Internet banking [IB], point of sale [POS] and mobile banking [MB]) and cash holding.

Findings

The authors find the presence of long-run negative relationship between cash holding and the four direct measures of financial technology.

Practical implications

Despite the negative effect of financial technology on cash holding, the descriptive results highlight increasing trajectory in cash holding. This suggests that structural factors such as ethical climate, literacy level, household characteristics, currency denomination structures, economic uncertainty and infrastructure deficit may account for the pervasive cash transactions in Nigeria and not necessarily the unwillingness of economic agents to use digital platform for financial transactions.

Originality/value

This study contributes to existing literature by augmenting the money demand function to accommodate direct measures of financial technology in examining the effectiveness of the policy on cash holding in Nigeria.

中文翻译：

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金融技术对尼日利亚现金持有的影响

目的

本文旨在研究金融技术对尼日利亚现金持有的影响。

设计/方法/方法

作者使用Pesaran等。的（2001）自回归分布滞后（ARDL）边界测试方法进行协整，以估计金融技术的四个直接指标（自动柜员机[ATM]，网上银行[IB]，销售点[POS]和移动银行[MB]）和现金持有。

发现

作者发现，现金持有量与金融技术的四项直接措施之间存在长期的负相关关系。

实际影响

尽管金融技术对现金持有有负面影响，但描述性结果突出显示了现金持有的轨迹不断增加。这表明，诸如道德氛围，识字水平，家庭特征，货币面额结构，经济不确定性和基础设施赤字等结构性因素可能是尼日利亚普遍存在的现金交易的原因，不一定是经济主体不愿意使用数字平台进行金融交易的原因。

创意/价值

这项研究通过增加货币需求函数以适应金融技术的直接措施，从而研究了尼日利亚现金持有政策的有效性，从而为现有文献做出了贡献。