Cash and non-cash payments in a long run perspective, Spain 1989-2014
Use este enlace para citar
http://hdl.handle.net/2183/35834Coleccións
Metadatos
Mostrar o rexistro completo do ítemTítulo
Cash and non-cash payments in a long run perspective, Spain 1989-2014Data
2016Cita bibliográfica
4. Maixé-Altés, J. C.; Mourelle, E. (2016): Cash and non-cash payments in a long run perspective, Spain 1989-2014; Munich Personal RePEc Archive-MPRA Paper No. 72590. https://mpra.ub.uni-muenchen.de/id/eprint/72590
Resumo
[Abstract]: This work investigates the relationships between the retail payment system, monetary aggregates and
economic activity in Spain. This approach is taken from a new perspective: that of the transformations
that have been favored by ICT in the payment system. The methodology used is based on
cointegration analysis and the estimation of error correction models. Likewise, an indicator of
cashless transactions is proposed in order to illustrate whether a particular society can be classified as
“cashless”. We use the Johansen procedure to unveil long-run relationships that are integrated in the
real sector, the monetary system and the value of cashless transactions. We prove the relevant (and
direct) impact of changes in the monetary system and national income on the value of cashless
transactions. Using error correction models, we observe that the most important short-run
relationships in terms of the value of cashless transactions are those related to the real sector of the
economy, while with regard to monetary variables, the relevance is focused on the more liquid
sectors. The empirical results evidence the intensive progress of the cashless society in Spain, where
the banking sector, the regulatory changes and ICT development have played a key role.
Palabras chave
Cashless payments
Money supply
ICT
Money supply
ICT