Report NEP-PAY-2025-08-18

This is the archive for NEP-PAY, a report on new working papers in the area of Payment Systems and Financial Technology. Bernardo Bátiz-Lazo issued this report. It is usually issued weekly.

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Other reports in NEP-PAY

The following items were announced in this report:

• Ozili, Peterson K, 2025. "Geopolitical shocks, capital outflows, financial inclusion and digital financial inclusion," MPRA Paper 125567, University Library of Munich, Germany.
• Ozili, Peterson K, 2025. "Financial Inclusion and Digital Financial Inclusion of Forcibly Displaced Persons: Strategies and Challenges," MPRA Paper 125563, University Library of Munich, Germany.
• Ethan Buchman & Paolo Dini & Shoaib Ahmed & Andrew Miller & Tomav{z} Fleischman, 2025. "Cycles Protocol: A Peer-to-Peer Electronic Clearing System," Papers 2507.22309, arXiv.org.
• Ozili, Peterson K & Obiora, Kingsley I & Onuzo, Chinwendu, 2025. "Financial inclusion and large language models," MPRA Paper 125562, University Library of Munich, Germany.
• C S Mohapatra & Depannita Ghosh, 2025. "A Long-Term Financial Inclusion Strategy for Viksit Bharat:Sustained Digital Literacy, Trust, and Access for All," NCAER Working Papers 183, National Council of Applied Economic Research.
• Luyao Zhang, 2025. "SoK: Stablecoins for Digital Transformation -- Design, Metrics, and Application with Real World Asset Tokenization as a Case Study," Papers 2508.02403, arXiv.org.
• Rees Hagler & Dhiren Patki, 2025. "Why Has Consumer Spending Remained So Resilient? Evidence from Credit Card Data," Current Policy Perspectives 2025-10, Federal Reserve Bank of Boston.
• Yukihiro Nishimura, 2025. "A Novel Argument on Regulating Prices in Two-sided Markets: Finding Win-Win Policy Correctly," Discussion Papers in Economics and Business 25-05, Osaka University, Graduate School of Economics.
• Aaron Green & Zihan Nie & Hanzhen Qin & Oshani Seneviratne & Kristin P. Bennett, 2025. "FinSurvival: A Suite of Large Scale Survival Modeling Tasks from Finance," Papers 2507.14160, arXiv.org.
• Arman Abgaryan & Utkarsh Sharma & Joshua Tobkin, 2025. "Decentralised Multi-Manager Fund Framework," Papers 2507.00978, arXiv.org.
• Alex Acheampong & Donghyun Park & Shu Tian, 2025. "Digital Accessibility and Poverty Reduction: Global Perspectives," ADB Economics Working Paper Series 794, Asian Development Bank.
• Isaac Otchere & Zia Mohammed & Witness Simbanegavi, 2025. "Fintech and financial system stability in South Africa," Working Papers 11082, South African Reserve Bank.
• Kozo UEDA, 2025. "Money Flow Business Network," CIGS Working Paper Series 25-019E, The Canon Institute for Global Studies.
• Rodríguez-Pose, Andrés & Sandu, Alexandra, 2025. "Banking on trust: institutional trust and the geography of financial exclusion in Central and Eastern Europe," LSE Research Online Documents on Economics 128413, London School of Economics and Political Science, LSE Library.
• Wishnu Badrawani & Citra Amanda & Novi Maryaningsih & Carla Sheila Wulandari, 2025. "The Role of Digital Payments in Driving Regional Economic Growth: A Panel Data Analysis with Structural Break," Papers 2508.02119, arXiv.org.
• Xiaolin Yu & Jin Seo Cho, 2025. "Fintech Pilot Programs and Digital Innovation: Evidence from Quasi-Natural Experiments in China," Working papers 2025rwp-257, Yonsei University, Yonsei Economics Research Institute.
• Barbereau, Tom & , Thijmen, 2025. "‘Must Fix Trust’: Privacy-enhancing technologies as reductive tool," SocArXiv 7kaxj_v1, Center for Open Science.
• Marina Azzimonti & Vincenzo Quadrini, 2025. "Digital Economy, Stablecoins, and the Global Financial System," NBER Working Papers 34066, National Bureau of Economic Research, Inc.
• Dhanashekar Kandaswamy & Ashutosh Sahoo & Akshay SP & Gurukiran S & Parag Paul & Girish G N, 2025. "Deep Reputation Scoring in DeFi: zScore-Based Wallet Ranking from Liquidity and Trading Signals," Papers 2507.20494, arXiv.org.
• Microsoft Copilot & Stephen E. Spear, 2025. "AI Agents in the Electricity Market Game with Cryptocurrency Transactions: A Post-Terminator Analysis," Papers 2505.14612, arXiv.org.
• Maretha Roseline Syahnie & Muhammad Ryan Sanjaya, 2024. "Financing MSMEs in Indonesia: Credit and Financial Inclusion," Gadjah Mada Economics Working Paper Series 202407007, Department of Economics, Faculty of Economics and Business, Universitas Gadjah Mada.
• Sicheng Fu & Fangfang Zhu & Xiangdong Liu, 2025. "A Predictive Framework Integrating Multi-Scale Volatility Components and Time-Varying Quantile Spillovers: Evidence from the Cryptocurrency Market," Papers 2507.22409, arXiv.org.
• Antonino Castelli & Paolo Giudici & Alessandro Piergallini, 2025. "Building crypto portfolios with agentic AI," Papers 2507.20468, arXiv.org.
• Ozili, Peterson K, 2025. "Bank non-performing loans research around the world," MPRA Paper 125217, University Library of Munich, Germany.
• Iñaki Aldasoro & Jon Frost & Sang Hyuk Lim & Fernando Perez-Cruz & Hyun Song Shin, 2025. "An approach to anti-money laundering compliance for cryptoassets," BIS Bulletins 111, Bank for International Settlements.
• Mikel Bedayo & Eva Valdeolivas & Carlos Pérez, 2024. "The stabilizing role of local claims in local currency on the variation of foreign claims," Working Papers 2447, Banco de España.
• Atta Ul Mustafa, 2025. "A Simulation-Based Conceptual Model for Tokenized Recycling: Integrating Blockchain, Market Dynamics, and Behavioral Economics," Papers 2507.19901, arXiv.org.
• Simon Brown & Leonardo Bautista-Gomez, 2024. "Exploring Correlation Patterns in the Ethereum Validator Network," Papers 2404.02164, arXiv.org.
• V. I. Danilov, 2025. "On the existence of stable contract systems," Papers 2505.12721, arXiv.org.