Transformation of payment systems: The case of European Union enlargement
AbstractIn this paper we present a general equilibrium model on payment choice at retail level. We analyze how the accession to an economic and monetary union, and the influence of new institutions may shape the evolution of consumers’ payments in newly acceded countries. The model suggests that accessing countries approach accepting group attitudes towards payment choices as a consequence of institutional pressure and technology development. We apply the results of the model to 2004 European Union enlargement process. Results confirm the relevance of institutional environment and technology development in retail payment system decisions of newly acceded countries.
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Bibliographic InfoPaper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 2011-23.
Length: 30 pages
Date of creation: Oct 2011
Date of revision:
Publication status: Published by Ivie
cash; payments; European Union enlargement.;
Other versions of this item:
- Francisco J. Callado-Mu�oz & Jana Hromcov� & Natalia Utrero-Gonz�lez, 2012. "Transformation of payment systems: the case of European Union enlargement," Applied Economics Letters, Taylor & Francis Journals, vol. 19(18), pages 1787-1791, December.
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
- E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-11-01 (All new papers)
- NEP-EEC-2011-11-01 (European Economics)
- NEP-TRA-2011-11-01 (Transition Economics)
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