nep-pay New Economics Papers
on Payment Systems and Financial Technology
Issue of 2020‒04‒27
25 papers chosen by

  1. Cryptocurrency Market Reactions to Regulatory News By Raphael Auer; Stijn Claessens
  2. The Increasing Deflationary Influence of Consumer Digital Access Services By David M. Byrne; Carol Corrado
  3. Digitalization and Platforms in Agriculture: Organizations, Power Asymmetry, and Collective Action Solutions By Kenney, Martin; Serhan, Hiam; Trystram, Gilles
  4. Social Distancing, Internet Access and Inequality By Lesley Chiou; Catherine Tucker
  5. Opening Up for Managing Business and Societal Challenges By Solomon Darwin; Henry Chesbrough; Sea Matilda Bez; Chiara Eleonora de Marco; Dieudonnee Cobben
  6. Securing macroeconomic and monetary stability with a Federal Reserve–backed digital currency By Julia Coronado; Simon Potter
  7. Reviving the potency of monetary policy with recession insurance bonds By Julia Coronado; Simon Potter
  8. Technological Innovation and Discrimination in Household Finance By Adair Morse; Karen M. Pence
  9. Taxing Earnings from the Platform Economy: An EU Digital Single Window for Income Data? By Lehdonvirta, Vili; Ogembo, Daisy
  10. Payment Dollarization and Foreign Exchange Market Development in Cambodia: The Role of Money Changers By Koji Kubo; Vichet Sam; Yuthan Chea
  11. Fortalecimiento de la cadena de valor de la animación digital en Manizales (Colombia) By Peralta Quesada, Leda; De Groot, Olaf
  12. The influence of website quality on consumers e-loyalty through the mediating role of e-trust esatisfaction and perceived enjoyment An evidence from online shopping in Vietnam By Giao, Ha Nam Khanh
  13. Social Media, Web, and Panel Surveys: Using Non- Probability Samples in Social and Policy Research By Lehdonvirta, Vili; Oksanen, Atte; Räsänen, Pekka; Blank, Grant
  14. Fortalecimiento de la cadena de valor de la animación digital en Costa Rica By Peralta Quesada, Leda; De Groot, Olaf
  15. Boltzmann Entropy in Cryptocurrencies: A Statistical Ensemble Based Approach By Grilli, Luca; Santoro, Domenico
  16. A Decision Tree for Digital Financial Inclusion Policymaking By Stijn Claessens; Liliana Rojas-Suarez
  17. New digital safety net or just more ‘friendfunding’? Institutional analysis of medical crowdfunding in the United States By Lehdonvirta, Vili; Lee, Sumin
  18. Mobile phone network and migration: evidence from Myanmar By Riccardo Ciacci; Jorge García-Hombrados; Ayesha Zainudeen
  19. Political Networks across the Globe By Commander, Simon; Poupakis, Stavros
  20. The Geography of Connectivity: Trails of Mobile Phone Data By Erlström, Andreas; Grillitsch, Markus; Hall, Ola
  21. Customer Satisfaction at E-Commerce Platform By Giao, Ha Nam Khanh
  22. Can blockchain technology reduce the cost of remittances? By Friederike Rühmann; Sai Aashirvad Konda; Paul Horrocks; Nina Taka
  23. The Use of Artificial Intelligence in Health Care: Liability Issues By Mélanie Bourassa Forcier; Lara Khoury; Nathalie Vézina
  24. The speed of innovation diffusion in social networks By Arieli, Itai; Babichenko, Yakov; Peretz, Ron; Young, H. Peyton
  25. Technology Adoption, Impact, and Extension in Developing Countries' Agriculture: A Review of the Recent Literature By Kazushi Takahashi; Rie Muraoka; Keijiro Otsuka

  1. By: Raphael Auer; Stijn Claessens
    Abstract: Cryptocurrencies are often thought to operate out of the reach of national regulation, but in fact their valuations, transaction volumes and user bases react substantially to news about regulatory actions. The impact depends on the specific regulatory category to which the news relates: events related to general bans on cryptocurrencies or to their treatment under securities law have the greatest adverse effect, followed by news on combating money laundering and the financing of terrorism, and on restricting the interoperability of cryptocurrencies with regulated markets. News pointing to the establishment of specific legal frameworks tailored to cryptocurrencies and initial coin offerings coincides with strong market gains. These results suggest that cryptocurrency markets rely on regulated financial institutions to operate and that these markets are segmented across jurisdictions.
    JEL: E42 E51 F31 G12 G28 G32 G38
    Date: 2020–04–15
  2. By: David M. Byrne; Carol Corrado
    Abstract: Consumer digital access services—internet, mobile phone, cable TV, and streaming—accounted for over 2 percent of U.S. household consumption in 2018. We construct prices for these services using direct measures of volume (data transmitted, talk time, and hours of programming). Our price index fell 12 percent per year from 1988 to 2018 while official prices moved up modestly. Using our digital services index, we estimate total personal consumption expenditure (PCE) prices have risen nearly 1/2 percentage point slower than the official index since 2008. Importantly, the spread between alternative and official PCE price inflation has increased noticeably over time.
    Keywords: Price measurement; Consumer digital services; Innovation; Information and Communication Technology (ICT); National accounting
    JEL: E31 L86 O33
    Date: 2020–02–26
  3. By: Kenney, Martin; Serhan, Hiam; Trystram, Gilles
    Abstract: Abstract Technologies such as digitally-equipped agricultural equipment, drones, image recognition, sensors, robots and artificial intelligence are being rapidly adopted throughout the agrifood system. As a result, actors in the system are generating and using ever more data. While this is already contributing to greater productivity, efficiency, and resilience, for the most part, this data has been siloed at its production sites whether on the farm or at the other nodes in the system. Sharing this data can be used to create value at other nodes in the system by increasing transparency, traceability, and productivity. Ever greater connectivity allows the sharing of this data with actors, at the same node in the value chain, e.g., farmer-to-farmer, or between different nodes in the value chain, e.g., farmer-to-equipment producer. The benefits of data sharing for efficiency, productivity and sustainability are predicated upon the adoption of an online digital platform. The conundrum is that, as the intermediary, the owner of a successful platform acquires significant power in relationship to the platform sides. This paper identifies five types of platform business models/ownership arrangements and their benefits and drawbacks for the various actors in the agri-food system and, in particular farmers. The types discussed are: 1) venture capital financed startups; 2) existing agro-food industry firms including equipment makers such as John Deere, agrochemical/seed conglomerates such as Bayer/Monsanto, and agricultural commodity traders such as ADM and Cargill; 3) agricultural cooperative such as InVivo in France; 4) various specially formed consortia of diverse sets of agri-food system actors including farmers, and 5) the internet giants such as Amazon, Microsoft and Google. The paper assesses the business models for each of these organizational forms. Finally, we describe the drawbacks each of these organizational forms have experienced as they attempt to secure adoption of their particular platform solution.
    Keywords: Digitization, Platform Economy, Agriculture, Agri-food systems, Cooperatives, Platforms
    JEL: Q1 Q13 L6 L66
    Date: 2020–04–23
  4. By: Lesley Chiou; Catherine Tucker
    Abstract: This paper measures the role of the diffusion of high-speed Internet on an individual's ability to self-isolate during a global pandemic. We use data that tracks 20 million mobile devices and their movements across physical locations, and whether the mobile devices leave their homes that day. We show that while income is correlated with differences in the ability to stay at home, the unequal diffusion of high-speed Internet in homes across regions drives much of this observed income effect. We examine compliance with state-level directives to avoid leaving your home. Devices in regions with either high-income or high-speed Internet are less likely to leave their homes after such a directive. However, the combination of having both high income and high-speed Internet appears to be the biggest driver of propensity to stay at home. Our results suggest that the digital divide---or the fact that income and home Internet access are correlated---appears to explain much inequality we observe in people's ability to self-isolate.
    JEL: L96 L98 M15
    Date: 2020–04
  5. By: Solomon Darwin; Henry Chesbrough; Sea Matilda Bez (Labex Entreprendre - UM - Université de Montpellier); Chiara Eleonora de Marco; Dieudonnee Cobben
    Abstract: Firms submitted corporate challenges relating to digital business models across several industries, and a community of academic experts and open innovation practitioners solve it. Challenge #1: SAP (Conducting "Horizon 3" transformational experiments through learning fast/fail fast approaches) Challenge #2: SALESFORCE (Expanding through the creation of ecosystems in new unchartered markets) Challenge #3: SIEMENS (Creating data-richness through the formation of IoT and digitalization partnerships) Challenge #4: ERICSSON (Creating new business opportunities leveraging emerging 5G technologies) Challenge #5: PNO (Overcoming bottlenecks that block the successful use of open innovation within organizations) The following report details description of the discussions conducted during each industry session and the specific solutions emerged from the audience brainstorming and already briefly presented to the companies at the end of each session. Moreover, we provide a short presentation of more general recommendations that result from a cross-analysis of all the companies presenting their challenges at WOIC 2019, but go beyond them and can be considered by industry at large, and concern: a. Innovation Platform and Ecosystem b. Data and Other Infrastructures c. Understanding the Problems and Contexts d. Company Ambassadors
    Keywords: Open-Innovation,Innovation Platform,Ecosystem,Data Management,Company Ambassadors
    Date: 2020–02–14
  6. By: Julia Coronado (Macropolicy Perspectives); Simon Potter (Peterson Institute for International Economics)
    Abstract: The US monetary system faces significant challenges from advances in technology and changes in the macroeconomy that, left unaddressed, will threaten the stability of the US economy and financial system. At the same time, low interest rates mean that central banks will not have the policy ammunition they had in the past during the next recession. The Federal Reserve needs new tools to meet its mandates of price stability and maximum employment. It also needs to preserve the safety and soundness of the financial system in a rapidly digitizing world. The authors propose a Fed-backed digital currency to solve both problems. Their proposal creates a regulated system of digital currency accounts for consumers managed by digital payment providers and fully backed by reserves at the Fed. The system would be limited in size, to preserve the functions and stability of the existing banking system. Fed backing would mean low capital requirements, which would in turn facilitate competition. Low fees and no minimum balance requirements in the new system would also help financial institutions reach the roughly 25 percent of the US population that is currently either unbanked or underbanked. Digital accounts for consumers could also provide a powerful new stabilization tool for both monetary and fiscal policies. For fiscal policy, it could facilitate new automatic stabilizers while also allowing the Fed to provide quantitative easing directly to consumers. This tool could be used in a timely manner with broad reach to all Americans.
    Date: 2020–03
  7. By: Julia Coronado (Macropolicy Perspectives); Simon Potter (Peterson Institute for International Economics)
    Abstract: In the second part of their Policy Brief, Coronado and Potter discuss how the system of digital payment providers (DPPs) proposed in their first Policy Brief on this topic adds a new weapon to the monetary toolkit that could be implemented in a timely, effective, and inclusive manner. They describe how a digital currency backed by the Federal Reserve could augment automatic fiscal stabilizers and—more importantly—harness the power of “helicopter†money or quantitative easing directly to consumers in a disciplined manner. To implement QE directly to consumers, Coronado and Potter propose the creation of recession insurance bonds (RIBs)—zero-coupon bonds authorized by Congress and calibrated as a percentage of GDP sufficient to provide meaningful support in a downturn. Congress would create these contingent securities; Treasury would credit households’ digital accounts with them. The Fed could purchase them from households in a downturn after its policy rate hits zero. The Fed’s balance sheet would grow by the value of RIBs purchased; the initial matching liability would be deposits into the DPP system. The mechanism is easy for consumers to understand and could boost inflation expectations more than a debt-financed fiscal stimulus could.
    Date: 2020–04
  8. By: Adair Morse; Karen M. Pence
    Abstract: Technology has changed how discrimination manifests itself in financial services. Replacing human discretion with algorithms in decision-making roles reduces taste-based discrimination, and new modeling techniques have expanded access to financial services to households who were previously excluded from these markets. However, algorithms can exhibit bias from human involvement in the development process, and their opacity and complexity can facilitate statistical discrimination inconsistent with antidiscrimination laws in several aspects of financial services provision, including advertising, pricing, and credit-risk assessment. In this chapter, we provide a new amalgamation and analysis of these developments, identifying five gateways whereby technology induces discrimination to creep into financial services. We also consider how these technological changes in finance intersect with existing discrimination and data privacy laws, leading to our contribution of four frontlines of regulation. Our analysis concludes that the net effect of innovation in technological finance on discrimination is ambiguous and depends on the future choices made by policymakers, the courts, and firms.
    Keywords: Discrimination; Fair lending; Statistical discrimination; FinTech; Taste-based preferences; Algorithmic decision-making; Proxy variables; Big data
    JEL: G21 G28 O33
    Date: 2020–02–20
  9. By: Lehdonvirta, Vili; Ogembo, Daisy
    Abstract: Income earned through gig platforms, letting platforms, and other digital intermediaries presents new challenges for taxation. This article evaluates the efforts of three European Union Member States – Denmark, Estonia, and France – to obtain data on platform users’ earnings directly from platform companies, including Uber, Airbnb, and domestic platforms. The authors furthermore assess the viability of scaling up the national initiatives into an EU-level “Digital Single Window” that would facilitate the automated reporting of income data by platforms, and the forwarding of that data to national tax and social security agencies for taxation and collection according to national rules. Acknowledgements: The authors gratefully acknowledge Dr Max Uebe, Ms Carola Bouton, Mr Istvan Vanyolos, and other European Commission experts who contributed valuable suggestions, the expert interviewees listed at the end of the article for being generous with their information and insights, and Professor Judith Freedman for her support and advice throughout the project. This research has received financial support from the European Union Programme for Employment and Social Innovation “EaSI” (2014-2020). For further information please consult: The information contained in this publication does not necessarily reflect the official position of the European Commission.
    Date: 2020–04–15
  10. By: Koji Kubo; Vichet Sam; Yuthan Chea
    Abstract: Cambodia's foreign exchange market is cash-based, overshadowed by the retail transactions of money changers. Based on the original dataset of the enterprise survey on uses of currency exchange services, we elucidate the structure of the foreign exchange market and investigate how payment dollarization is related to the prosperity of money changers. The empirical evidence indicates that firms in the domestic business sector confront currency mismatch situations that mean they have to undertake currency exchange. Besides, cash transactions are the most common means of payment in the country. The combination of prevalent currency mismatch and cash-based transactions is considered to give rise to retail currency exchange transactions with which money changers are more compatible than banks are. The empirical results also suggest that the recent regulation to promote bank lending in Khmer Riels will boost banks' currency exchange services, a situation conducive to foreign exchange market development.
    Keywords: Cash-based transaction, Money changer, Currency mismatch, Payment dollarization, Cambodia
    Date: 2019–10
  11. By: Peralta Quesada, Leda; De Groot, Olaf
    Abstract: Este estudio tiene por objeto analizar y caracterizar la economía creativa y la industria de la animación digital en Manizales (Colombia) para lograr el fortalecimiento de la cadena regional de valor desde la concepción del cambio estructural progresivo. Los análisis realizados muestran resultados alentadores. La ciudad cuenta con un ecosistema favorable gracias a la marcada presencia del sector académico y diferentes apoyos gubernamentales. Sin embargo, el sector privado manizaleño es pequeño e incipiente y tiene que enfrentar diferentes desafíos para aumentar su escala. Entre las oportunidades se encuentran grandes posibilidades de cooperación entre empresas y con entidades fuera de la ciudad. Además de la búsqueda de proyectos conjuntos, es importante fortalecer el conocimiento empresarial y el grado de asociatividad a nivel regional e internacional, lo que puede lograrse en cooperación con el sector académico y los socios internacionales. En este estudio se elaboran estrategias de intervención en materia de tecnología e innovación, capacitación y educación, fomento de la competitividad y apoyo a la exportación, con miras a responder a los desafíos que enfrenta Manizales para la integración y el fortalecimiento de la cadena de valor de la animación digital.
    Date: 2020–04–15
  12. By: Giao, Ha Nam Khanh
    Abstract: The aim of the present study is to examine the influence of website quality on consumer’s eloyalty, noting the mediating role of e-trust, e-satisfaction, and perceived enjoyment. Besides, this study examines the consequence of consumer’s e-loyalty. Survey data collected from 594 respondents aged at least 16 years and performed some online shopping through websites in Vietnam. Based on the theoretical framework, PLS-SEM using SmartPLS 3.0 software was deployed to discover links between the constructs. The results showed a positive effect of website quality on e-loyalty, which was mediated partially through consumer e-trust and e-satisfaction. Moreover, e-loyalty had a positive association with electronic word of mouth (eWOM) as well. The main findings of this research provide some empirical implications for Internet marketers and online retailers in Vietnam. E-vendors should understand the customers’ expectations and e-loyalty regarding online shopping to attract new customers as well as to retain their existing customers.
    Date: 2019–11–18
  13. By: Lehdonvirta, Vili; Oksanen, Atte (University of Tampere); Räsänen, Pekka; Blank, Grant
    Abstract: The use of online surveys has grown rapidly in social science and policy research, surpassing more established methods. We argue that a better understanding is needed, especially of the strengths and weaknesses of non-probability online surveys that can be conducted relatively quickly and cheaply. We describe two common approaches to non-probability online surveys – river and panel sampling – and theorize their inherent selection biases: topical self-selection and economic self-selection. We conduct an empirical comparison of two river samples (Facebook and web-based) and one panel sample (from a major survey research company) with benchmark data grounded in a comprehensive population registry. We examine (1) how closely the online samples correspond with the benchmark, and (2) their usefulness in studying a non-demographic subpopulation. The river samples diverge from the benchmark on demographic variables and yield much higher means on non-demographic variables, even after weighting; we attribute this to topical self-selection. The panel is closer to the benchmark. When examining the characteristics of a non-demographic subpopulation, we detect no differences between the river and panel samples. We conclude that non-probability online surveys don’t replace probability surveys, but augment the researcher’s toolkit with new digital practices, such as exploratory studies of small and emerging non-demographic subpopulations.
    Date: 2020–04–02
  14. By: Peralta Quesada, Leda; De Groot, Olaf
    Abstract: El presente trabajo tiene por objeto analizar y caracterizar la economía creativa y el sector de animación digital en Costa Rica como base para un plan de fortalecimiento de las cadenas de valor regionales. La situación actual de la animación digital en Costa Rica parece bastante prometedora, dado que cuenta con un sector privado muy activo y un sector público que valora las posibilidades de esta industria. Si bien el impacto de los programas ejecutados no ha sido óptimo, estos han arado el terreno para trabajos futuros. En general, la industria de la animación digital en Costa Rica es pequeña y presenta una gran diversidad en cuanto a su profesionalización. El desarrollo de capacidades empresariales es fundamental, especialmente para las empresas pequeñas y los profesionales independientes activos en el sector. Además, se requieren mejores instrumentos de política pública y financieros. El punto clave para afrontar estos retos es el logro de un mayor nivel de asociatividad en el sector como hilo conductor para resolver los retos con estrategias de alto potencial. En este estudio se han elaborado estrategias de intervención en materia de tecnología e innovación, capacitación y educación, fomento a la competitividad y apoyo a la exportación, con miras a responder a los desafíos que enfrenta la región de cara a la integración y el fortalecimiento de las cadenas de valor regionales.
    Date: 2020–04–16
  15. By: Grilli, Luca; Santoro, Domenico
    Abstract: In this paper we try to build a statistical ensemble to describe a cryptocurrency-based system, emphasizing an "affinity" between the system of agents trading in these currencies and statistical mechanics. We focus our study on the concept of entropy in the sense of Boltzmann and we try to extend such a definition to a model in which the particles are replaced by N agents completely described by their ability to buy and to sell a certain quantity of cryptocurrencies. After providing some numerical examples, we show that entropy can be used as an indicator to forecast the price trend of cryptocurrencies.
    Keywords: Cryptocurrency, Entropy, Prices Forecast, Boltzmann, Blockchain
    JEL: C02 C69 E44 E47 G12 G17 G19
    Date: 2020–04–11
  16. By: Stijn Claessens (Bank for International Settlements); Liliana Rojas-Suarez (Center for Global Development)
    Abstract: In recent years, a large number of countries have implemented policy changes to advance financial inclusion, especially by using digital financial services (DFS). However, results are mixed. While some countries are achieving impressive inclusion gains, others continue to fall short of expectations. How to properly diagnose the country-specific root causes of this shortfall and prioritize needed actions is a pressing question for policymakers in charge of designing and implementing financial inclusion strategies. Building on the Growth Diagnostic work by Hausmann and others, this paper provides an analytical framework (a decision tree) to identify country-specific constraints blocking progress with financial inclusion; that is, binding constraints. Using a deductive top down approach and dividing constraints between supply and demand factors, the tree analyzes various potential causes (branches in the tree). To identify the most relevant constraints, the methodology calls for analysis of the markets for financial services (particularly DFS) using observed (or shadow) prices and quantities. For its benchmarking approach, it proposes a wide-ranging set of indicators, including aggregate and micro-level statistics as well as survey data to reflect providers’ and consumers’ perceptions. For ease of exposition and illustrative purposes, the discussion of the tree uses many country examples. Recognizing constraints differ by financial service, trees are presented for payments and transfers, store of value, and credit services.
    Keywords: Financial inclusion, digital financial inclusion, financial regulation, financial system, decision tree, policy making
    JEL: D18 D53 G20 G28 O57 O16
    Date: 2020–02–27
  17. By: Lehdonvirta, Vili; Lee, Sumin
    Abstract: Crowdfunding is becoming a popular way of financing healthcare. Some commentators suggest that crowdfunding could serve as a new institution that fills gaps in conventional safety nets. Others suggest that crowdfunding is simply another way of obtaining help from family, friends, and local associations, and has little transformative potential. We provide one of the first quantitative analyses of medical crowdfunding, and the first to model the broader societal context in which campaigns are situated. We scraped data on US medical campaigns from the leading platform, and combined them with county-level socioeconomic data to model predictors of campaign frequency and success. Our findings suggest that many seek help from crowdfunding when both formal and informal conventional safety nets fail them. Significantly more campaigns are initiated in US counties with poorer private insurance coverage, lower social security provision, fewer social associations, and weaker cultures of giving. However, campaigns are least likely to reach their goals where most needed. Campaigns are more likely to be successful in counties that are wealthier and healthier, and have more social associations. Crowdfunding is not merely ‘friendfunding’: fundraisers can increase their chances of success by having their appeals widely shared on social media. However, the returns to sharing are greater for campaigns initiated in wealthier areas. Overall, our findings suggest that medical crowdfunding is an entrepreneurial safety net: one where protection is not afforded universally or on the basis of need, but on the basis of one’s ability to appeal to the audience and out- compete rivaling needfuls.
    Date: 2020–03–24
  18. By: Riccardo Ciacci; Jorge García-Hombrados; Ayesha Zainudeen
    Abstract: This study explores the effect of the expansion of mobile phone signal on migrationdecisions in Myanmar. The empirical strategy proposed follows Manacorda and Tesei (2019) and Andersen et al. (2011), it uses variation in lightning frequency across spaceas an instrumental variable for the expansion of mobile phone signal. Our results suggest that longer exposure to mobile phone network decreases migration. Specifically, an increase of 1 s.d. in the time exposed to mobile phone signal diminishes the probability of household members to migrate by 17%. We find empirical evidencesuggesting that such findings are driven by the positive effects of access to mobilephone signal on labor market outcomes and on perceived well-being.
    Keywords: Burma/Myanmar, migration
    JEL: J1 Z0
    Date: 2020
  19. By: Commander, Simon (IE Business School, Altura Partners); Poupakis, Stavros (University of Oxford)
    Abstract: Political networks are an important feature of the political and economic landscape of countries. Despite their ubiquity and significance, information on such networks has proven hard to collect due to a pervasive lack of transparency. However, with the advent of big data and artificial intelligence, major financial services institutions are now actively collating publicly available information on politically exposed persons and their networks. In this study, we use one such data set to show how network characteristics vary across political systems. We provide results from more than 150 countries and show how the format of the network tends to reflect the extent of democratisation of each country. We also outline further avenues for research using such data.
    Keywords: political networks, rent-seeking, democratic consolidation
    JEL: D72 H11 P26 P36 N44
    Date: 2020–03
  20. By: Erlström, Andreas (Lund University); Grillitsch, Markus (CIRCLE, Lund University); Hall, Ola (Lund University)
    Abstract: Connectivity between and within places is one of the cornerstones of human geography. However, the data and methodologies used to capture connectivity are limited due to the difficulty in gathering and analysing detailed observations in time and space. Mobile phone data potentially offers a rich and unprecedented source of data, which is exhaustive in time and space closely following movements and partly communication activities of individuals. This paper discusses the state-of-the-art in the analysis of mobile phone data, identifies methodological challenges, elaborates on key findings for geography, and outlines opportunities for future research on the geography of connectivity.
    Keywords: Connectivity; mobile phone data; human mobility; social networks; regional development
    JEL: B40 J60 O18 R12
    Date: 2020–04–14
  21. By: Giao, Ha Nam Khanh
    Abstract: This study has four objectives: (1) Identifying factors that affect customer satisfaction on online service quality of, (2) Measuring the level of impact of the factors, (3) Testing the difference in satisfaction among groups of customers with different characteristics in terms of gender, age, income, academic level, and occupation, and (4) Proposing some managerial implications to improve the quality of online services by interviewing directly and online 200 individual customers who have shopped at E-commerce platform for at least the last six months, using the convenient sampling method. This study analyzes the reliability of the scale through the Cronbach's alpha coefficient, Exploratory factor analysis, and Linear regression analysis. The findings identified four factors that influence positively customer satisfaction regarding the quality of online services in E-commerce platform in the order of descending strength: (1) Trust, (2) Customer service, (3) Web design and (4) Safety. In addition, the results show no difference in customer satisfaction according to different academic levels, but in terms of occupation and income, gender, and age. The results show that the factors influencing most customer satisfaction are Reliability and Customer Service. Some managerial implications are then proposed to improve the quality of online shopping services at
    Date: 2020–04–11
  22. By: Friederike Rühmann; Sai Aashirvad Konda; Paul Horrocks; Nina Taka
    Abstract: The achievement of the Sustainable Development Goals (SDGs) demands unprecedented resources and efforts. Remittances as one of the largest development finance flows are an important source of income for millions of households in developing countries and offer tremendous potential to contribute towards the achievement of Agenda 2030. However, the high cost of sending remittances limits their full potential. The global average cost of sending USD 200 is 6.9% of the remittance. SDG 10 C aims to reduce the cost to less than 3% and to eliminate remittance corridors with cost higher than 5% by 2030. Blockchain technology promises to disintermediate banks, transform the financial landscape and drastically reduce the cost of cross-border transactions, yet there is a need for further evidence on this topic.The OECD Development Co-operation Directorate (DCD) has developed this paper to provide an overview of diverse perspectives on the intersection of blockchain technology and remittances by exploring the opportunities and challenges of this technology for reducing the cost of remittances. The paper identifies several limitations, such as data privacy risks, regulatory uncertainty and last-mile delivery, among others, while investigating whether blockchain technology is the solution to reduce the cost of remittances.
    JEL: F24 E58 O19
    Date: 2020–04–21
  23. By: Mélanie Bourassa Forcier; Lara Khoury; Nathalie Vézina
    Abstract: This paper explores Canadian liability concerns flowing from the integration of artificial intelligence (AI) in health care (HC) delivery. It argues that the current Canadian legal framework is sufficient, in most cases, to allow developers and users of AI technology to assess each stakeholder’s responsibility should the technology cause harm. Further, it inquires as to whether an alternative approach to existing liability regimes should be adopted in order to promote AI innovation based on recognized best practices which, in turn, could lead to increased use of AI technology.
    Keywords: AI,Digital Health,Law,Liability,Doctor,Hospitals,Companies,
    Date: 2020–04–16
  24. By: Arieli, Itai; Babichenko, Yakov; Peretz, Ron; Young, H. Peyton
    Abstract: New ways of doing things often get started through the actions of a few innovators, then diffuse rapidly as more and more people come into contact with prior adopters in their social network. Much of the literature focuses on the speed of diffusion as a function of the network topology. In practice, the topology may not be known with any precision, and it is constantly in flux as links are formed and severed. Here, we establish an upper bound on the expected waiting time until a given proportion of the population has adopted that holds independently of the network structure. Kreindler and Young (2014) demonstrated such a bound for regular networks when agents choose between two options: the innovation and the status quo. Our bound holds for directed and undirected networks of arbitrary size and degree distribution, and for multiple competing innovations with different payoffs.
    Keywords: Innovation diffusion; social networks; speed of equilibrium convergence
    JEL: J1
    Date: 2020–03–01
  25. By: Kazushi Takahashi; Rie Muraoka; Keijiro Otsuka
    Abstract: Given the stagnant agricultural productivity and persistent food insecurity in low-income countries - notably in sub-Saharan Africa (SSA) - there has been continued interest in the adoption of new technology and its impact on productivity in these regions. Interestingly, there are signs of Green Revolution in maize and rice in SSA, reflected in sharply increasing yield trends in advanced regions. To increase crop yields and sustain yield gains, recent case studies of technology adoption unanimously recommend the adoption of integrated farm management systems, particularly in SSA. On the other hand, since the 2010s, there have been increasing numbers of studies on social network or farmer-to-farmer technology extension. These studies explore more efficient extension systems than traditional public-sector extension approaches. This article reviews both recent case studies of technology adoption and its productivity impacts as well as studies on agricultural extension to identify common findings, shortcomings, and major remaining issues.
    Keywords: technology adoption, productivity impact, agricultural extension, technological diffusion
    Date: 2019–10

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