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What determines the value and volume of noncash transactions? Evidence from a panel of European and North American countries

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  • Alessandra Guariglia
  • Yiing Jia Loke

Abstract

Using data from a panel of 15 countries over the period 1990-1998, the determinants of the use of non cash payment instruments are analysed. The estimation results highlight the importance of distinguishing between the determinants of the value and volume of noncash transactions. It is found in fact that the volume of these transactions is generally affected by changes in the determinants more strongly than their value, and that variables such as the interest rate have a different impact on the volume and the value of the transactions. The findings also suggest that past habits play a dominant role in the intensity of use of noncash payment instruments.

Suggested Citation

  • Alessandra Guariglia & Yiing Jia Loke, 2004. "What determines the value and volume of noncash transactions? Evidence from a panel of European and North American countries," Applied Economics, Taylor & Francis Journals, vol. 36(4), pages 291-303.
  • Handle: RePEc:taf:applec:v:36:y:2004:i:4:p:291-303
    DOI: 10.1080/0003684041000167222
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    References listed on IDEAS

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    1. Mathias Drehmann & Charles Goodhart & Malte Krueger, 2002. "The challenges facing currency usage: will the traditional transaction medium be able to resist competition from the new technologies?," Economic Policy, CEPR;CES;MSH, vol. 17(34), pages 193-228, April.
    2. David Humphrey & Lawrence Pulley & Jukka Vesala, 2000. "The Check's in the Mail: Why the United States Lags in the Adoption of Cost-Saving Electronic Payments," Journal of Financial Services Research, Springer;Western Finance Association, vol. 17(1), pages 17-39, February.
    3. Snellman, Jussi & Vesala, Jukka & Humphrey, David, 2000. "Substitution on noncash payment instruments for cash in Europe," Research Discussion Papers 1/2000, Bank of Finland.
    4. James J. McAndrews, 1997. "Network issues and payment systems," Business Review, Federal Reserve Bank of Philadelphia, issue Nov, pages 15-25.
    5. Jussi Snellman & Jukka Vesala & David Humphrey, 2001. "Substitution of Noncash Payment Instruments for Cash in Europe," Journal of Financial Services Research, Springer;Western Finance Association, vol. 19(2), pages 131-145, April.
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    Cited by:

    1. Martikainen, Emmi & Schmiedel, Heiko & Takalo, Tuomas, 2015. "Convergence of European retail payments," Journal of Banking & Finance, Elsevier, vol. 50(C), pages 81-91.
    2. Vania Silva & Esmeralda Ramalho & Carlos Vieira, 2016. "Is EMV adoption changing card payments? Evidence from the European Union," CEFAGE-UE Working Papers 2016_05, University of Evora, CEFAGE-UE (Portugal).
    3. repec:kap:openec:v:28:y:2017:i:3:d:10.1007_s11079-016-9412-1 is not listed on IDEAS
    4. VĂ¢nia G. Silva & Esmeralda A. Ramalho & Carlos R. Vieira, 2017. "The Use of Cheques in the European Union: A Cross-Country Analysis," Open Economies Review, Springer, vol. 28(3), pages 581-602, July.

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