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Openness and Technology Diffusion in Payment Systems: The Case of NAFTA

  • Francisco Callado

    ()

    (Departament d'Economia i Empresa, Universitat de Girona)

  • Jana Hromcová

    ()

    (Departament d'Economia Aplicada, Universitat Autonoma de Barcelona)

  • Natalia Utrero

    ()

    (Departament d'Economia i Empresa, Universitat de Girona)

We study the relationship between openness and payment system development. In particular, we analyze how the existence of technology diffusion from a more developed country fosters a transformation of payment choice in a less developed country. We apply our analysis to Mexico. Economic growth in Mexico was not high enough to cause a transformation of payment choice observed in the data after 2001. We argue that the switch towards electronic payments can be attributed to openness and related payment technology spillovers from the US in the context of NAFTA.

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File URL: http://www.ecap.uab.es/RePEc/doc/wpdea1206.pdf
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Paper provided by Department of Applied Economics at Universitat Autonoma of Barcelona in its series Working Papers with number wpdea1206.

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Length: 21 pages
Date of creation: Jun 2012
Date of revision:
Handle: RePEc:uab:wprdea:wpdea1206
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  4. Hromcová, Jana, 2008. "Learning-or-doing in a cash-in-advance economy with costly credit," Journal of Economic Dynamics and Control, Elsevier, vol. 32(9), pages 2826-2853, September.
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  17. David B. Humphrey & Lawrence B. Pulley & Jukka M. Vesala, 1996. "Cash, paper, and electronic payments: a cross-country analysis," Proceedings, Board of Governors of the Federal Reserve System (U.S.), pages 914-941.
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  21. Callado Muñoz, Francisco José & Utrero González, Natalia, 2004. "European payment systems and monetary union," Journal of Financial Transformation, Capco Institute, vol. 12, pages 85-92.
  22. M. Ayhan Kose & Christopher M. Towe & Guy Meredith, 2004. "How Has Nafta Affected the Mexican Economy? Review and Evidence," IMF Working Papers 04/59, International Monetary Fund.
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