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on Payment Systems and Financial Technology |
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Issue of 2022‒11‒07
24 papers chosen by |
| By: | Ozili, Peterson K |
| Abstract: | This paper presents a discussion of decentralized finance in Africa. It presents some statistics and data on decentralized finance in Africa. Thereafter, the potential benefits, challenges and regulatory issues associated with decentralized finance in Africa are discussed. Recently, there has been an increase in the use of cryptocurrency, decentralized finance applications (dApps) and decentralized financial services (DeFi) in several countries. These innovations facilitate the delivery of financial services using smart contracts. Decentralized finance (DeFi) encompasses all financial services that are built on public blockchains, based on open protocols and removes intermediaries from the financial intermediation process. There is significant cryptocurrency activity in Africa while decentralized finance (DeFi) is relatively new and unpopular in the African continent. There is low interest in decentralized finance in Africa. The benefit of DeFi to African countries include increased liquidity for small and medium scale enterprises (SMEs), new opportunities to raise additional capital to fund capital-intensive activities, it will usher in an era of smart contracts that are negotiated bilaterally without needing an intermediary, it will encourage peer-to-peer trade between economic agents in several African countries, it will enhance the efficiency of the Pan-African Payment Settlement System (PAPSS), and encourage more trade between individuals and corporations under the African Continental Free Trade Agreement (AfCFTA), amongst others. |
| Keywords: | Decentralized finance, Cryptocurrencies, DeFi, dApps, AfCFTA, Bitcoin, blockchain, central bank digital currency crypto technologies, Africa, smart contracts. |
| JEL: | G21 G23 O31 |
| Date: | 2022–09 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:114710&r= |
| By: | Graf Von Luckner,Clemens Mathis Henrik,Reinhart,Carmen M.,Rogoff,Kenneth S. |
| Abstract: | This paper employs high frequency transactions data on the world’s oldest and most extensive centralized peer-to-peer Bitcoin market, which enables trade in the currencies of more than 135 countries. It presents an algorithm that allows, with high probability, the detection of “crypto vehicle transactions” in which crypto currency is used to move capital across borders or facilitate domestic transactions. In contrast to previous work which has used “on-chain” data, this paper’s approach enables one to investigate parts of the vastly larger pool of “off-chain” transactions. Finding that, as a conservative lower bound, over 7 percent of the 45 million trades on the exchange we explore represent crypto vehicle transactions in which Bitcoin is used to make payments in fiat currency. Roughly 20 percent of these represent international capital flight/flows/remittances. Although this work cannot be used to put a price on cryptocurrencies, it provides the first systematic quantitative evidence that the transactional use of cryptocurrencies constitutes a fundamental component of their value, at least under the current regulatory regime. |
| Keywords: | International Trade and Trade Rules,Investment and Investment Climate,Law Enforcement Systems |
| Date: | 2021–10–05 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:9794&r= |
| By: | Camara,Youssouf |
| Abstract: | During the COVID-19 pandemic, consumers were encouraged to use contactless payments. An important policy question is whether merchants with contactless payment technology are more resilient to an external health shock than those without. Using a matched difference-in-differences setting on unique merchant card-sales transaction data, this study finds that merchants with contactless payment technology increase their card-sales amount (count) on average by 8.3 percent (10.2 percent) compared with merchants without this technology. It also finds evidence that accepting contactless payment during an epidemic shock helps merchants attract more new consumers. Digital payment technology continues to support sales growth, especially for small businesses and new entrepreneurs. |
| Keywords: | Public Health Promotion,Health Care Services Industry,Financial Sector Policy,Information Security&Privacy |
| Date: | 2021–05–17 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:9665&r= |
| By: | Giulio Cornelli; Jon Frost; Leonardo Gambacorta; Julapa Jagtiani |
| Abstract: | Small business lending (SBL) plays an important role in funding productive investment and fostering local economic growth. Recently, nonbank lenders have gained market share in the SBL market in the United States, especially relative to community banks. Among nonbanks, fintech lenders have become particularly active, leveraging alternative data for their own internal credit scoring. We use proprietary loan-level data from two fintech SBL platforms (Funding Circle and LendingClub) to explore the characteristics of loans originated pre-pandemic (2016-2019). Our results show that fintech SBL platforms lent more in zip codes with higher unemployment rates and higher business bankruptcy filings. Moreover, fintech platforms' internal credit scores were able to predict future loan performance more accurately than the traditional approach to credit scoring, particularly in areas with high unemployment. Using Y-14M loan-level bank data, we also compare fintech SBL with traditional bank business cards in terms of credit access and interest rates. Overall, fintech lenders have a potential to create a more inclusive financial system, allowing small businesses that were less likely to receive credit through traditional lenders to access credit and to do so at lower cost. |
| Keywords: | fintech credit, peer-to-peer (P2P) lending, marketplace lending, small business lending (SBL), Funding Circle, LendingClub, alternative data, credit access, credit scoring. |
| JEL: | G18 G21 G28 L21 |
| Date: | 2022–09 |
| URL: | http://d.repec.org/n?u=RePEc:bis:biswps:1041&r= |
| By: | Marco Manacorda; Guido Tabellini; Andrea Tesei |
| Abstract: | We study the political effects of the diffusion of mobile Internet between 2007 and 2017, using data on electoral outcomes and on mobile Internet signal across the 84,564 municipalities of 22 European countries. We find that access to mobile Internet increased voters' support for right-wing populist parties and for parties running on extreme socially conservative platforms, primarily in areas with greater economic deprivation. Using survey data, we also show that mobile Internet increased communitarian attitudes, such as nationalism and dislike of strangers and minorities. We conclude that mobile Internet benefitted right-wing populist parties because, in line with findings in social psychology, it fostered offline tribalism. |
| Keywords: | populism, communitarianism, Europe, mobile internet |
| Date: | 2022–10–14 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepdps:dp1877&r= |
| By: | Laurent Clerc; Pierre Harguindeguy; Stefano Ungaro; Timothée Dufour |
| Abstract: | Cette troisième étude de l’Autorité de contrôle prudentiel et de résolution (ACPR) consacrée aux acteurs et intermédiaires financiers proposant des services en ligne ou accessibles via des transactions 100 % mobiles vise à caractériser leurs modèles d’affaires et à évaluer leur rentabilité en lien avec leurs stratégies commerciales. Elle permet également de mieux comprendre le positionnement de ces acteurs dans le marché de l’intermédiation bancaire et financière, la nature de leurs relations avec les banques traditionnelles et, ainsi, le degré de transformation du paysage bancaire en France. |
| Keywords: | banque, concurrence bancaire, nouveaux intermédiaires numériques, numérisation, innovation, Fintech, plateformes numériques Fintech, digital platform |
| JEL: | G18 G21 G28 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:bfr:analys:142&r= |
| By: | Brockmeyer,Anne; Saenz Somarriba,Magaly Vanessa |
| Abstract: | Does the digitization of transactions in an economy increase tax compliance This paper studies theeffect of financial incentives on the adoption of electronic payment technology and on tax compliance by firms.Exploiting administrative data and policy variation from Uruguay, the paper shows that i) consumer value-added taxrebates for credit and debit card transactions trigger an immediate 50 percent increase in the number of cardtransactions, ii) firms' use of card machines increases only on the intensive margin, and iii) tax compliance isunaffected. Endogenous card machine adoption and a low share of card sales in total reported sales can rationalize the findings. |
| Keywords: | Tax Administration,Tax Law,Public Sector Economics,Public Finance Decentralization and Poverty Reduction,Financial Sector Policy,Labor Markets,International Trade and Trade Rules |
| Date: | 2022–02–24 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:9947&r= |
| By: | Serzo, Aiken Larisa O. |
| Abstract: | This study reviews Philippine regulations governing digital platforms with cross-border operations and the impacts of these laws on the ability of platforms to innovate and participate in the global economy. There is no shortage of constitutional, statutory, and policy support for innovation, e-commerce, digitization, and entrepreneurship. However, there is a disconnect between these policies and the environment created by how implementing statutes and regulations evolved. These regulatory gaps could negatively impact digital platforms in two ways. First, they inhibit innovation because uncertainties could limit funding opportunities and discourage firms from developing or launching novel products. Second, gaps and overlaps could lead to cross-border and domestic regulatory arbitrage, forcing firms to relocate to areas or jurisdictions where risks are more manageable. Therefore, this paper recommends a recalibration of regulations, taking into consideration the policy objectives on innovation vis-Ã -vis the protection of Filipino consumers and entrepreneurs. Policymakers could take advantage of regulatory intersections to further innovation policies. They could also consider various interventions to achieve such reforms without necessarily resorting to constitutional changes. The government could review its taxation, labor, consumer protection, and investment regulations, ensuring that these laws do not stifle innovation. |
| Keywords: | regulatory reform; foreign direct investment;digital platforms; internet law; startups; internet economy; data privacy; mas media |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:phd:rpseri:rps_2021-08&r= |
| By: | Sam Njinyah (Manchester Metropolitan University, UK); Simplice A. Asongu (Yaoundé, Cameroon); Sally Jones (Manchester Metropolitan University, UK) |
| Abstract: | Africa is becoming the fastest-growing continent despite significant challenges to accessing finance and the use of technology. This research aims to examine the direct effect of mobile money adoption on firm performance and its indirect effect by examining how it moderates the effect of access to finance on firm performance. Quantitative data were obtained from the World Bank Enterprise Survey for Cameroon, Ivory Coast and Zimbabwe. A series of hierarchical regression analyses were done to test the hypotheses. The main findings show a negative significant relationship between mobile money adoption and firm performance while access to finance had a positive relationship. The moderation effect though positive was not significant. Research examining the effect of mobile money adoption in Africa on firm performance is limited and existing studies have focused on the determinants of mobile money usage. |
| Keywords: | Mobile money, Access to Finance, Firm Performance, Resource-based view, Sub Saharan Africa |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:22/075&r= |
| By: | Walk,Erin Elizabeth; Garimella,Kiran; Christia,Fotini |
| Abstract: | Starting in 2011, the Syrian civil war has resulted in the displacement of over 80% of theSyrian population. This paper analyzes how the widespread use of social media has recorded migration considerationsfor Syrian refugees using social media text and image data from three popular platforms (Twitter, Telegram, andFacebook). Leveraging survey data as a source of ground truth on the presence of IDPs and returnees, it uses topicmodeling and image analysis to find that areas without return have a higher prevalence of violence-relateddiscourse and images while areas with return feature content related to services and the economy. Building on thesefindings, the paper first uses mixed effects models to show that these results hold pre- and post- return as well aswhen migration is quantified as monthly population flows. Second, it leverages mediation analysis to find thatdiscussion on social media mediates the relationship between violence and return in months where there are fewer violentevents. Monitoring refugee return in war prone areas is a complex task and social media may provide researchers, aidgroups, and policymakers with tools for assessing return in areas where survey or other data is unavailable or difficultto obtain. |
| Date: | 2022–04–26 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:10024&r= |
| By: | Cecilia Olivieri; Romina Quagliotti; Graciela Sanroman |
| Abstract: | This paper examines the impact of measures implemented in Uruguay to promote financial inclusion. We analyse the changes in terms of access to debit and credit cards and their determinants. We also employ Diff in Diff strategies to assess the effect of a particular measure: the mandatory payment of salaries through bank accounts. We find evidence that financial inclusion has improved during the period analysed, through the expansion of debit cards. We document that the impact was strongest among low-income households and those headed by women or Afro-descendants. We also show that the expansion was greater than that observed in other similar countries. However, we find almost no change in access to credit cards. |
| Keywords: | Financial inclusion, Household finances, Payment instruments |
| JEL: | G21 G50 O16 |
| Date: | 2022–05 |
| URL: | http://d.repec.org/n?u=RePEc:ude:wpaper:0422&r= |
| By: | Mensah,Justice Tei; Hirfrfot,Kibrom Tafere; Abay,Kibrom A. |
| Abstract: | Digital technologies can expand access to health services to underserved populations. Thispaper leverages mobile network expansion and survey data spanning two decades to study the impact of access to mobilephones on infant mortality in Africa. Using plausibly exogenous variations in lightning intensity and(sub)regional convergence in mobile penetration as instrumental variables for mobile network expansion, theanalysis finds that mobile phones significantly reduce infant mortality. A 10 percentage point increase in mobilecoverage is associated with a 0.45 percentage point reduction in infant mortality. Improvements in healthknowledge and behavior and health care utilization appear to be plausible channels. |
| Date: | 2022–03–21 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:9978&r= |
| By: | Ragoussis,Alexandros; Timmis,Jonathan David |
| Abstract: | This paper presents new evidence on the growth of digital technology in response to the COVID-19pandemic. It uses the largest and most comprehensive database available to analyze website birth dynamics and theuptake of website technologies. The database comprises 150 million active websites and 27,000 technologies. Thefindings show that, over 2020, there was rapid adoption of both e-commerce and online payments across all countries,with greatest rates of adoption in countries that had lower initial levels of technology use. The timing of COVID-19lockdowns strongly predicts increased use of these technologies, accounting for about a third of the overallincrease in e-commerce or online payments usage over 2020. More importantly the shock appears to have resulted in ashift in trend more so than a shift in level, suggesting that COVID-19 may have transformed the trajectory of onlinemarket growth. |
| Keywords: | Information Technology,International Trade and Trade Rules |
| Date: | 2022–03–03 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:9951&r= |
| By: | Nicholas Buchholz (Princeton University); Laura Doval (Columbia University); Jakub Kastl (Princeton University); Filip Matejka (CERGE-EI); Tobias Salz (Massachusetts Institute of Technology) |
| Abstract: | We recover valuations of time using detailed data from a large ride-hail platform, where drivers bid on trips and consumers choose between a set of rides with different prices and waiting times. Leveraging a consumer panel, we estimate demand as a function of both prices and waiting times and use the resulting estimates to recover heterogeneity in the value of time at the individual level. We study the welfare implications of platform pricing policies that take advantage of this heterogeneity. In particular, we compare the consumers’, drivers’, and platform’s welfare under different forms of price discrimination. Taking into account drivers’ optimal reaction to the platform’s pricing policy, total surplus falls by 6% under personalized pricing relative to the current mechanism. However, total surplus grows by 33% compared to the case in which the platform does not incorporate consumer information into its pricing. |
| Keywords: | Value of time, demand in transportation markets, ride hail |
| JEL: | C73 D83 L90 R12 |
| Date: | 2022–06 |
| URL: | http://d.repec.org/n?u=RePEc:pri:econom:2022-22&r= |
| By: | Thomas Fujiwara (Princeton University and NBER); Karsten Müller (National University of Singapore); Carlo Schwarz (Università Bocconi) |
| Abstract: | We study how social media affects election outcomes in the United States. We use variation in the number of Twitter users across counties induced by early adopters at the 2007 South by Southwest (SXSW) festival, a key event in Twitter’s rise to popularity. We show that this variation is unrelated to observable county characteristics and electoral outcomes before the launch of Twitter. Our results indicate that Twitter lowered the Republican vote share in the 2016 and 2020 presidential elections, but had limited effects on Congressional elections and previous presidential elections. Evidence from survey data, primary elections, and a text analysis of millions of tweets suggests that Twitter’s relatively liberal content may have persuaded voters with moderate views to vote against Donald Trump. |
| Keywords: | voting behavior, elections |
| JEL: | D72 |
| Date: | 2022–09 |
| URL: | http://d.repec.org/n?u=RePEc:pri:econom:2022-18&r= |
| By: | Federico D'Amario; Milos Ciganovic |
| Abstract: | Cryptocurrencies have become a trendy topic recently, primarily due to their disruptive potential and reports of unprecedented returns. In addition, academics increasingly acknowledge the predictive power of Social Media in many fields and, more specifically, for financial markets and economics. In this paper, we leverage the predictive power of Twitter and Reddit sentiment together with Google Trends indexes and volume to forecast the log returns of ten cryptocurrencies. Specifically, we consider $Bitcoin$, $Ethereum$, $Tether$, $Binance Coin$, $Litecoin$, $Enjin Coin$, $Horizen$, $Namecoin$, $Peercoin$, and $Feathercoin$. We evaluate the performance of LASSO-VAR using daily data from January 2018 to January 2022. In a 30 days recursive forecast, we can retrieve the correct direction of the actual series more than 50% of the time. We compare this result with the main benchmarks, and we see a 10% improvement in Mean Directional Accuracy (MDA). The use of sentiment and attention variables as predictors increase significantly the forecast accuracy in terms of MDA but not in terms of Root Mean Squared Errors. We perform a Granger causality test using a post-double LASSO selection for high-dimensional VARs. Results show no "causality" from Social Media sentiment to cryptocurrencies returns |
| Date: | 2022–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2210.00883&r= |
| By: | Hiroaki Kuwahara (Deposit Insurance Corporation of Japan); Kazuaki Hara (Deposit Insurance Corporation of Japan) |
| Abstract: | Prepaid cards have a relatively long history compared to other Fintech products. Over the last half a century, prepaid cards have been issued as telephone cards, cards substituting for subway tickets, etc. Prepaid cards may broadly cover cards through which value is stored, and for which the holder has paid the issuer in advance. While this concept of prepaid cards is broader than IADI's definition of e-money, it is essential to note that respective jurisdictions/regions may have their own definitions, scope and/or concepts of e-money and/or prepaid cards. The objective of this brief is to present a case study in Japan on prepaid payment instruments stipulated in the Payment Services Act. The brief also looks into prepaid-type payment instruments issued under the legal frameworks of the U.S. and the EU. Prepaid cards have evolved together with their legal frameworks in the respective jurisdictions/regions. Differences among jurisdictions/regions are observed not only in their legal frameworks for prepaid cards, but also in the scope and concepts, similarities to deposits, impacts on depositors, functions and risks of issuing institutions, and other relevant elements concerning prepaid cards. It can be said that there is no single approach that could be applied universally for supervision and protection of prepaid cards, nor for the appropriate relationships with deposit insurance. Respective jurisdictions/regions have been developing their own approaches as appropriate in accordance with their legal frameworks and other relevant elements, including social needs. It is considered essential that a one-size-fits-all approach is not taken in considering measures for supervising and protecting prepaid cards and their appropriate relationships with deposit insurance. With all of the variations in the treatment of prepaid cards, one should begin by understanding the legal frameworks in the respective jurisdiction/regions, including their development stages and historical backgrounds, and then carefully analyse and sort out relevant elements of prepaid cards. It may also be useful to apply this approach in assessing new Fintech products that may be developed in the future. |
| Keywords: | deposit insurance, bank resolution |
| JEL: | G21 G33 |
| Date: | 2022–10 |
| URL: | http://d.repec.org/n?u=RePEc:awl:finbri:10&r= |
| By: | Javier Gil-Bazo; Juan F. Imbet |
| Abstract: | We investigate whether asset management firms use social media to persuade investors. Combining a database of almost 1.6 million Twitter posts by U.S. mutual fund families with textual analysis, we find that flows of money to mutual funds respond positively to tweets with a positive tone. Consistently with the persuasion hypothesis, positive tweets work best when they convey advice or views on the market and when investor sentiment is higher. Using a high-frequency approach, we are able to identify a short-lived impact of families' tweets on ETF share prices. Finally, we reject the alternative hypothesis that asset management companies use social media to alleviate information asymmetries by either lowering search costs or disclosing privately observed information. |
| Keywords: | Social media, Twitter, persuasion, mutual funds, mutual fund, flows, machine learning, textual analysis |
| JEL: | G11 G23 D83 |
| Date: | 2022–10 |
| URL: | http://d.repec.org/n?u=RePEc:upf:upfgen:1846&r= |
| By: | Ulrich Matter; Roland Hodler; Johannes Ladwig |
| Abstract: | Search engines play a central role in routing political information to citizens. The algorithmic personalization of search results by large search engines like Google implies that different users may be offered systematically different information. However, measuring the causal effect of user characteristics and behavior on search results in a politically relevant context is challenging. We set up a population of 150 synthetic internet users ("bots") who are randomly located across 25 US cities and are active for several months during the 2020 US Elections and their aftermath. These users differ in their browsing preferences and political ideology, and they build up realistic browsing and search histories. We run daily experiments in which all users enter the same election-related queries. Search results to these queries differ substantially across users. Google prioritizes previously visited websites and local news sites. Yet, it does not generally prioritize websites featuring the user's ideology. |
| Date: | 2022–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2209.14000&r= |
| By: | Feyen,Erik H.B.; Kawashima,Yusaku; Mittal,Raunak |
| Abstract: | On-chain crypto-assets transaction volumes have grown rapidly, particularly during the COVID-19pandemic. Crypto-assets activity appears to be a global phenomenon, although it still remains modest relative togross domestic product for most countries. Panel regressions across more than 130 countries show that the variation incountries’ monthly crypto volumes is mostly driven by globally relevant factors such as real U.S. longer-terminflation expectations, U.S. real Treasury yields, and gold and crypto-asset prices, rather than recent country-levelmacroeconomic developments. Cross-sectional regressions offer tentative evidence that crypto activity is higher incountries with higher information and communications technology adoption and higher reliance on remittances.Taken together, the findings shed new light on the drivers behind crypto activity and offer support to the notions thatcrypto-assets are perceived as a risk asset, a potential macro hedge, and a potential tool to support cross-bordertransactions. However, the results come with caveats: a significant portion of the sample period includesextraordinarily loose global financial conditions; the crypto volume data have a short history, rely on importantlimiting assumptions, and do not represent all crypto activity; and crypto-assets represent a fast-evolving,increasingly diverse asset class and industry. |
| Keywords: | Inflation,Financial Sector Policy,International Trade and Trade Rules,Public Finance Decentralization and Poverty Reduction,Public Sector Economics |
| Date: | 2022–03–08 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:9962&r= |
| By: | Calderon,Cesar; Cantu,Catalina |
| Abstract: | This paper estimates the impact of digital infrastructure on economic growth and its sources.The analysis uses system generalized method of moments and finds evidence of a causal impact from the digitalinfrastructure variables to economic growth, its sources, income inequality, and poverty. The findings show thatmobile connections have an impact on economic growth through the total factor productivity growth channel, while internetusers drive it by the capital accumulation channel. Connections have a negative effect on the Gini coefficient,and internet users have a negative effect on the poverty headcount. The analysis also finds that human capital andaccess to electricity are important complementarities for digital infrastructure to reap benefits. There would belarge economic gains if Africa were to close the digital infrastructure gap relative to other regions, yet there aresome issues of affordability and skills that need to be addressed to reduce the usage gap and the digital divideacross gender, rural-urban, and firm size. |
| Keywords: | Economic Growth,Industrial Economics,Economic Theory & Research,Inequality,Information Technology,Telecommunications Infrastructure |
| Date: | 2021–11–18 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:9853&r= |
| By: | Arai,Ayumi; Knippenberg,Erwin Willem Yvonnick Leon; Meyer,Moritz; Witayangkurn,Apichon |
| Abstract: | Aggregated data from mobile network operators can provide snapshots of population mobility patterns in real time, generating valuable insights when other more traditional data sources are unavailable or out of date. The COVID-19 pandemic has highlighted the value of remotely collected, high-frequency, localized data in inferring the economic impact of shocks to inform decision making. However, proper protocols must be put in place to ensure end-to-end user confidentiality and compliance with international best practice. This paper demonstrates how to build such a data pipeline, for the case of The Gambia, channeling data from mobile network operators through the national regulator to the analytical users, who in turn produce policy relevant insights. The aggregated indicators analyzed offer a detailed snapshot of the decrease in mobility and increased out-migration from urban to rural areas during the COVID-19 lockdown. Recommendations based on lessons learned from this process can inform engagements with other regulators in creating data pipelines to inform policy making. |
| Keywords: | ICT Applications,Inequality,Telecommunications Infrastructure |
| Date: | 2021–05–21 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:9667&r= |
| By: | Karina Harjanto (Universitas Multimedia Nusantara, Gading Serpong, 15810, Tangerang, Indonesia Author-2-Name: Maria Stefani Osesoga Author-2-Workplace-Name: Universitas Multimedia Nusantara, Gading Serpong, 15810, Tangerang, Indonesia Author-3-Name: Elisa Tjhoa Author-3-Workplace-Name: Universitas Multimedia Nusantara, Gading Serpong, 15810, Tangerang, Indonesia Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:) |
| Abstract: | " Objective - This study aims to obtain empirical evidence of the effect of economic incentives, financial technology, and financial literacy on financial planning. Methodology – The data used in this study came from a questionnaire with 113 millennial respondents who live throughout Indonesia. Questionnaires were distributed in 2020 to understand millennial financial planning and the factors influencing it during the Covid-19 pandemic. Findings – This research found that economic incentives did not affect financial planning, while financial literacy and financial planning had a positive and significant effect on financial planning. Novelty – This study is among the first to learn the effect of the Covid-19 pandemic on millennials' finance. Type of Paper - Empirical" |
| Keywords: | Economic Incentive, Financial Literacy, Financial Planning, Financial Technology, Millennials |
| JEL: | D01 D14 |
| Date: | 2022–09–30 |
| URL: | http://d.repec.org/n?u=RePEc:gtr:gatrjs:jfbr202&r= |
| By: | Okunogbe,Oyebola Motunrayo; Santoro,Fabrizio |
| Abstract: | Tax revenue in many low- and middle-income countries is inadequate for fundinginvestments in public goods and human capital. With high levels of informality and limited state capacity, many taxauthorities have difficulty determining the true tax base and collecting taxes efficiently and equitably. Taxauthorities are increasingly adopting new technologies to improve administrative processes, reduce taxpayer compliancecosts, and enhance their overall effectiveness. This paper reviews the recent literature on the use of technology fortax administration. It highlights the potential of technology to improve tax collection by helping to identifythe tax base, monitor compliance and facilitate compliance. It also identifies possible limitations to the use oftechnology arising from inadequate infrastructure and connectivity, lack of adoption or resistance by taxpayersand tax collectors, lack of institutional mainstreaming, and an unsupportive regulatory environment. |
| Keywords: | Economic Adjustment and Lending,Taxation & Subsidies,Macro-Fiscal Policy,Public Finance Decentralization and Poverty Reduction,Public Sector Economics,Tax Administration,Tax Law,Financial Structures,Information Technology |
| Date: | 2021–11–15 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:9848&r= |