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Transformation of payment systems: The case of European Union enlargement

  • Francisco José Callado Muñoz

    ()

    (Dpt. Economia)

  • Jana Hromcová

    ()

    (Universitat de Girona)

  • Natalia Utrero González

    ()

    (Dpt. Economia)

In 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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File URL: http://www.ivie.es/downloads/docs/wpasad/wpasad-2011-23.pdf
File Function: Fisrt version / Primera version, 2011
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Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 2011-23.

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Length: 30 pages
Date of creation: Oct 2011
Date of revision:
Publication status: Published by Ivie
Handle: RePEc:ivi:wpasad:2011-23
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