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Factors behind high cash usage in Hungary

Author

Listed:
  • Anikó Bódi-Schubert

    () (Magyar Nemzeti Bank (central bank of Hungary))

Abstract

This article summarises the findings of qualitative, in-depth interviews which aimed to explore the motivating factors behind domestic cash usage that generate the significantly higher cash volumes in Hungary than would ’normally’ be justified. In the opinion of the experts interviewed, cash usage may be facilitated by the intensive cash need of the hidden economy, the traditional cash-oriented behaviour of the public administration and a lack of trust in business-to-business transactions. This analysis primarily intends to capture certain trends, which may have temporarily changed in the wake of the economic crisis, but nevertheless span a number of years and the specific phenomena of which may be regarded as generally valid over the long term, apart from certain periodic effects.

Suggested Citation

  • Anikó Bódi-Schubert, 2010. "Factors behind high cash usage in Hungary," MNB Bulletin (discontinued), Magyar Nemzeti Bank (Central Bank of Hungary), vol. 5(1), pages 20-28, March.
  • Handle: RePEc:mnb:bullet:v:5:y:2010:i:1:p:20-28
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    File URL: http://www.mnb.hu/letoltes/bodi-schubert-en.pdf
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    Cited by:

    1. Szabolcs Szikszai & Tamás Badics & Csilla Raffai & Zsolt Stenger & András Tóthmihály, 2013. "Studies in Financial Systems No 8 Hungary," FESSUD studies fstudy08, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.

    More about this item

    Keywords

    cash usage; hidden economy; tax avoidance; petty cash.;

    JEL classification:

    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General

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