Purpose

This study aims to analyze the effect of banking technology [automated teller machine (ATM) and mobile cellular devices (MOBs)] and other traditional factors on the level of currency in circulation for a sample of 21 selected sub-Saharan African (SSA) countries. It also assessed the mitigating effect of education on the relationship between banking technology and the cashless economy.

Design/methodology/approach

The study used a panel data approach to design a cashless economy model with banking technology – ATM and MOBs – as well as their interaction with education as regressors.

Findings

This study finds that MOB is significant for promoting a cashless economy, whereas ATM is insignificant in sample SSA countries. The level of education and the number of bank branches were also found to be significant in promoting a cashless economy. The interaction between education and ATM was insignificant but negatively signed, whereas that between education and MOB was significant but had a positive sign.

Research limitations/implications

Non-availability of data restricted this work to a panel study of selected SSA countries. Subsequent studies should consider single-country case studies.

Practical implications

Findings from the study imply that for banking technology to drive a cashless economy effectively, education has to be improved.

Originality/value

The ratio of cash in circulation to total money supply was used as a measure of the cashless economy. The study also evaluated the moderating effect of education on banking technology.

中文翻译：

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选定的撒哈拉以南非洲国家的银行技术和无现金经济：教育重要吗？

目的

本研究旨在分析银行技术 [自动柜员机 (ATM) 和移动蜂窝设备 (MOB)] 和其他传统因素对 21 个选定的撒哈拉以南非洲 (SSA) 国家样本流通货币水平的影响. 它还评估了教育对银行技术与无现金经济之间关系的缓解作用。

设计/方法/方法

该研究使用面板数据方法设计了一个无现金经济模型，其中包含银行技术——ATM 和 MOB——以及它们与作为回归变量的教育的相互作用。

发现

本研究发现，MOB 对促进无现金经济具有重要意义，而 ATM 在 SSA 样本国家中则微不足道。教育水平和银行分支机构的数量也被发现在促进无现金经济方面具有重要意义。教育与ATM交互作用不显着但呈负向，教育与MOB交互作用显着但呈正向。

研究限制/影响

由于数据不可用，这项工作仅限于对选定 SSA 国家的小组研究。后续研究应考虑单一国家案例研究。

实际影响

研究结果表明，要使银行技术有效地推动无现金经济，教育必须得到改善。

原创性/价值

流通中的现金与总货币供应量的比率被用作衡量无现金经济的指标。该研究还评估了教育对银行技术的调节作用。