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on Payment Systems and Financial Technology |
| By: | Wafaa El Gouz (Mohamed V University, Morocco); Azzeddine Allioui (ESCA Ecole de Management, Morocco) |
| Abstract: | The purpose of this study is to evaluate the adoption of Financial Technologies training by family businesses in Morocco and to assess the consequences of this acceptance for the development of the local economy. Traditional business models are being reformulated as a result of technological advancements, which are causing the global financial environment to undergo fast transformation. In this context, family businesses, which make up a significant portion of Morocco's economic fabric, are investigated regarding the degree to which they have committed themselves to the teaching of financial technology. Regulatory frameworks, resource accessibility, and understanding of the possible implications of FinTech tools are some of the important elements that are investigated in this research. The study also provides an analysis of the factors that influence the adoption of FinTech training among family businesses. The objective is to provide insights into the obstacles and possibilities connected with incorporating FinTech into the operations of family companies in Morocco by first gaining an awareness of these issues. In addition to this, the study investigates the practical consequences that the implementation of FinTech has on the operational efficiency, risk management, and decision-making processes of family businesses. Our goal is to shed light on the role that FinTech plays in enhancing the competitiveness and growth prospects of family businesses, thereby contributing to the overall economic development at the local level in Morocco. This will be accomplished through an analysis of case studies and empirical data. It is expected that the outcomes of this study will provide significant insights for policymakers, business executives, and academics interested in the nexus between family businesses, financial technology education, and economic development. |
| Keywords: | family businesses, financial technology, innovation, economic growth |
| Date: | 2024–05 |
| URL: | https://d.repec.org/n?u=RePEc:smo:raiswp:0377 |
| By: | Carlos A. Arango-Arango; Yanneth Rocío Betancourt-García |
| Abstract: | In this paper, we study the coexistence of cash and electronic payments introducing some distortions in the payments markets to understand the widespread use of cash, specially in emerging countries. Following Lagos and Wright (2005) we model explicitly some frictions in the exchange process considering money as essential. We introduce in this theoretical framework, theft and informality (measured by tax evasion), as factors affecting cash usage and, therefore competition with an electronic payment method. In this paper, segmentation in the payments market is considered by introducing heterogeneity in the seller's side, assuming different levels of productivity to explain the preference for cash or for electronic payments. Considering the above, the provision of the electronic payment platform is modeled under three different market structures to identify the effects of the distortions comparing the results with the social planner solution. In the first case, the electronic payment platform is provided by a public firm as a free service; in the second case a private monopoly provides the platform at a positive cost, and in the third case the conditions for the existence of a mixed duopoly are derived. The existence of a public provider in the electronic payments market could lead private networks to provide these services at a lower cost than in the monopoly case, increasing the coverage of digital payments and reducing cash usage, which implies gains in social welfare. This paper gives a theoretical basis and key insights to the discussions regarding public provision of new payment services when the market is already served by private suppliers. **** RESUMEN: Este artículo analiza teóricamente la coexistencia de dos medios de pago, como el efectivo y los pagos electrónicos, considerando algunas distorsiones en el mercado de pagos. Siguiendo a Lagos y Wright (2005), se modelan explícitamente algunas fricciones existentes en el proceso de intercambio. En este marco teórico, que considera al dinero como esencial, se introduce el robo y la informalidad (medida por la evasión fiscal), como factores que afectan el uso de efectivo y, por tanto, la competencia con otro medio de pago. Adicionalmente, se considera la segmentación en el mercado de pagos mediante la heterogeneidad en el lado de los vendedores, suponiendo diferentes niveles de productividad, para explicar la preferencia por el efectivo o por los pagos electrónicos. Los efectos de estas distorsiones se modelan bajo tres estructuras de mercado diferentes en la provisión de los pagos electrónicos, las cuales se comparan con los resultados del planificador social. En el primer caso, la plataforma de pago electrónico es proporcionada por una empresa pública como un servicio gratuito; en el segundo caso, un monopolio privado proporciona la plataforma a un costo positivo, y en el tercer caso se analiza la existencia de un duopolio mixto en la provisión de estos servicios de pago. Se demuestra teóricamente que la existencia de un proveedor público en el mercado de pagos podría llevar a las redes privadas a proporcionar estos servicios a un costo menor que en el caso de un monopolio privado, aumentando la cobertura de los pagos digitales y reduciendo el uso de efectivo, lo que implica ganancias en el bienestar social. Este artículo proporciona una base teórica que puede ayudar a los debates actuales sobre la provisión pública de nuevos servicios de pago cuando el mercado ya cuenta con proveedores privados. |
| Keywords: | Cash, payment methods, payments services, electronic payments, instant payments, Efectivo, medios de pago, instrumentos de pago, servicios de pago, pagos electrónicos, pagos instantáneos, duopolio mixto. |
| JEL: | E40 E41 E42 E44 |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:bdr:borrec:1280 |
| By: | Lika Chimchiuri (Sokhumi State University, Tbilisi, Georgia) |
| Abstract: | This article discusses the relationship between cyberbullying and freedom of expression, demonstrating how digital harassment damages the fundamental principles of free speech. Cyberbullying, defined as the use of online platforms to frighten or harass others, is directly against the idea of free expression, which seeks to protect open and respectful discourse. Through in-depth research and comparison of legal frameworks, this report identifies substantial loopholes in present legislation that fail to address the rising threat of cyber harassment. It suggests a broad strategy that combines legal reform, technology advances, and educational initiatives to foster an online environment that values empathy and respect. Key proposals include algorithmic changes to detect bullying behavior and the introduction of comprehensive digital citizenship education programs. The article shows the major psychological effects of cyberbullying, underlining the importance of creating safer online environments. The paper argues for cooperation among governments, technical companies, and civil society to restore the balance between supporting free expression and combating cyber abuse. This collaborated plan aims to prevent cyberbullying while simultaneously maintaining the internet as a vibrant space for democratic discourse and free speech. |
| Keywords: | cyberbullying, freedom of expression, digital harassment, online safety, legal framework, technological innovations, educational programs |
| Date: | 2024–07 |
| URL: | https://d.repec.org/n?u=RePEc:smo:raiswp:0389 |
| By: | Zhang, Yi; Tavalaei, Mahdi; Parry, Glenn; Zhou, Peng (Cardiff Business School) |
| Abstract: | To understand the slow adoption of blockchain technology by organisations, we conduct a systematic literature review of adoption factors using a mixed-methods approach. Using thematic analysis, 880 factors are identified and grouped into 29 themes, which offer a comprehensive overview of the literature. Using statistical analysis, the identified factors are dissected into technological (T), organisational (O), and environmental (E) dimensions (the TOE framework). Themes are further classified as barriers (B), enablers (En), and ambiguous (A) to describe a firm’s readiness for blockchain adoption (the BEnA framework). We emphasise the multidimensionality of adoption factors across the TOE dimensions and the conditionality of adoption enablers across the BEnA dimensions. Analysis of research trends shows that recent blockchain adoption literature has focused on elaborating upon existing research themes (involution) rather than on developing new themes (evolution). Based on our analyses, we propose future research directions, including scrutinising the interdependence and multidimensionality of blockchain adoption factors, further examining factors with conditional or unclear effects on adoption, and broadening the contextual, temporal, and theoretical aspects of blockchain adoption research. |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:cdf:wpaper:2024/19 |
| By: | Guoying Deng; Xuyuan Zhang |
| Abstract: | This study examines the impact of offline store expansion by Lianjia, China's leading real estate brokerage, within the framework of platform-mediated consolidation. By analyzing micro-level transactions of second-hand houses from Lianjia in ten major Chinese cities from 2016 to 2022, this research investigates how the transaction patterns of traditional brokerages, characterized by the strategic clustering of offline stores, transition towards platform-mediated consolidation, thereby facilitating the development of an extensive franchise network. Utilizing a regression discontinuity design (RDD), this study quantifies the optimal influence radius of offline stores (410 meters) on housing transactions. this study empirically estimates the effects of real estate brokerage's offline store expansion and platform-mediated consolidation on transaction properties. The results indicate that this strategy significantly boosts revenues and attracts more people to housing tours. Additionally, the results suggest that neither the platform-mediated strategy nor offline expansion affects the transaction period, but offline store expansion can reduce the price gap between sellers and buyers. Furthermore, this study introduces a measure of network effect, revealing that Lianjia's offline stores exhibit a local clustering pattern with moderate network strength. The analysis of platform-mediated consolidation indicates a significantly positive effect on network strength. This study provides valuable insights into the synergy between offline store expansion and online platform development, elucidating future trajectories in the evolving real estate brokerage market and analogous sectors. |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2409.04326 |
| By: | Bhatta, Siddha Raj |
| Abstract: | This article attempts to analyze the nexus between financial inclusion, inequality in the distribution of financial services, economic growth and inequality by using a sample of 112 countries. It estimates financial inclusion index for the countries using a number of access and usage indicators and then investigates the linkages of such index with growth, financial inequality, and income inequality. Results show that even though Nepal has progressed a lot in expanding financial inclusion, it ranks 70 out of the 112 countries included in the study in a cross-country context implying that more need to be done in the future to come in the forefront. In addition, results from the growth and inequality regression demonstrate that in the presence of higher inequality in the distribution of financial services, the gains from financial inclusion might not be realized as expected. This calls for the attention of the policymakers to address the inequality in financial services so that financial inclusion can contribute to higher and equitable growth. |
| Keywords: | Financial inclusion, Growth, Inequality |
| JEL: | G2 G21 |
| Date: | 2024–08–19 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121795 |
| By: | Goldbach, Stefan; Nitsch, Volker |
| Abstract: | This paper explores a monetary experiment, the adoption of Bitcoin as legal tender in El Salvador in 2021, to analyze the impact of digital currencies on international capital flows. Using a difference-in-differences approach, we find that, instead of making transfers easier, El Salvador's official cross-border financial activity has decreased after the monetary change. This finding may reflect an increase in uncertainty. However, it is also in line with findings that link digital assets to illegal activity as previously officially recorded financial transfers may have been replaced by unrecorded activities. |
| Keywords: | crypto-assets, digital currency, legal tender, bitcoin |
| JEL: | E42 E58 F21 F32 F38 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:darddp:302552 |
| By: | Bindseil, Ulrich; Senner, Richard |
| Abstract: | Over the last decades, macro-economists have renewed their efforts to reduce the gap between monetary macroeconomics and real-world central banking. This paper reviews how macroeconomics has since 2016 approached the possible introduction of retail central bank digital currencies (CBDC). A review of the literature reveals that macroeconomic models of CBDC often rely on CBDC design features and narratives which are no longer in line with the one of central banks actually working on CBDC. In particular, the literature often (i) does not take into account the nature of central banks’ CBDC issuance plans as a “conservative” reaction to profound technological and preferential shifts in the use of money as a means of payments, (ii) does not start from design features communicated by central banks, such as no-remuneration, quantity limits, access restrictions, and automated sweeping functionality linking CBDC wallets with commercial bank accounts; (iii) does not explain well enough the difference between CBDC and banknotes within their macro-economic models, apart from remuneration (which central banks actually do not foresee); and (iv) assume that CBDC will lead to a significant increase in the total holdings of central bank money in the economy, although (i) and (ii) make this unlikely. JEL Classification: E3, E5, G1 |
| Keywords: | central bank digital currencies, central bank money, financial stability, macroeconomics |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:ecb:ecbwps:20242978 |
| By: | Kingsley K. Arthur (Kumasi, Ghana); Simplice A. Asongu (Johannesburg, South Africa); Peter Darko (Kumasi, Ghana); Marvin O. Ansah (Kumasi, Ghana); Sampson Adom (Kumasi, Ghana); Omega Hlortu (Kumasi, Ghana) |
| Abstract: | The current review systematically synthesizes existing literature to provide a comprehensive overview of the nature of financial crimes in Africa and their impact on economic growth. We adopted the PRISMA protocol to identify 128 papers from the Scopus database; which were analyzed using MS Excel, VOS Viewer, and R-packages (Bibliometrix). The survey reveals that financial crimes are on the rise in Africa and have gained increasing concern over the years on the part of scholars, governments and NGOs. The survey also demonstrates that most of the financial crime in Africa emanates from illicit activities such as credit card fraud, cybercrime, mobile money fraud, financial statement fraud, Ponzi scheme, bribery and corruption, public fund mismanagement, terror financing, piracy, identity fraud, tax invasion, drug trafficking, product based-fraud, burglary, trade-based money laundering, sex marketing and gambling; with the majority occurring in specific regions like Western Africa, Southern Africa and Eastern Africa. Socio-political marginalization, poverty and unemployment, weak institutional and financial regulatory systems and individual selfish interests were the major causes. Overall, the content analysis of the studies indicates that financial crimes have significant negative impacts on the economic growth of the African continent. Implications for future research and practices have been discussed. |
| Keywords: | Financial crime, financial fraud, Money laundering, Africa, Economic development, Economic growth, and Bibliometric |
| Date: | 2024–01 |
| URL: | https://d.repec.org/n?u=RePEc:agd:wpaper:24/029 |
| By: | Grace Yoon (Choate Rosemary Hall, Wallingford, USA) |
| Abstract: | With the advent of social media and the digital landscape, mainstream activism is a distinguishing feature of young Americans today, referred to as millennials and Generation Z, i.e., those born between 1980 and 2012. However, this perspective overlooks the depth and authenticity of social involvement among these younger individuals, particularly through their embrace of literature and art—particularly spoken word poetry. Spoken word, rooted in oral tradition and championed by previous generations for its social impact, is finding renewed vigor among youth as a genuine means of articulating their societal concerns. This paper will examine the usage of spoken word poetry by contemporary Americans as a means of civic and political engagement. This exploration is contextualized through a modern lens, where digital platforms are amplifying voices traditionally marginalized in mainstream narratives, allowing spoken word poetry to evolve beyond its historical confines into a dynamic form of expression. This study extends the discussion to contemporary poets such as Amanda Gorman, Danez Smith, and Donald Glover who have harnessed the art form to address society’s most pressing issues. This analysis underscores the genre's burgeoning role within popular culture, evidenced by its integration into the music and public personas of artists who have traditionally not been associated with spoken word, thereby marking its reentry into the popular consciousness. At its core, the revival of spoken word among the youth, fueled by social media and digital platforms, represents a recent renovation to an old art form at different levels of pop culture. It is a testament to the enduring power of the spoken word to inspire, challenge, and mobilize. By embracing this tradition, today's generation is not merely participating in an act of revival but is actively redefining civic engagement and artistic expression. |
| Keywords: | spoken word, poetry, activism, social justice, Amanda Gorman, Danez Smith, Donald Glover |
| Date: | 2024–05 |
| URL: | https://d.repec.org/n?u=RePEc:smo:raiswp:0371 |
| By: | Palmira Permata Bachtiar; Jimmy Daniel Berlianto Oley; Lia Amelia |
| Keywords: | digital transformation, Digital economy, Internet Access, Gig Workers, social security |
| URL: | https://d.repec.org/n?u=RePEc:agg:wpaper:3281 |
| By: | Broere, Mark; Christmann, Robin |
| Abstract: | Crowdfunding as a part of micro-finance has received considerable attention from the public and among researchers, both due to its novel form of collecting funds and the emergence of fraud and misconduct to the disadvantage of lay backers. We develop an adverse selection model of reward-based crowdfunding that introduces Bertrand-style competition between campaign owners. We find that the traditional result in the literature about successful separation of high-type and low-type creators does no longer hold when accessible information about quality becomes less reliable and the market for the high-quality product grows. Under certain conditions, we also observe an instability in competition where campaign owners randomize between withdrawing to a certain market niche and price competition. All this gives rise to fraud in equilibrium. In this perspective, crowdfunding scams resemble a bet on market demand and are often able to evade liability. We then discuss specific remedies and provide insights for platform policy and regulation. |
| Keywords: | adverse selection; price competition; reward-based crowdfunding; fixed funding; enforcement |
| JEL: | G14 G18 K42 |
| Date: | 2024–08–21 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121784 |
| By: | The SMERU Research Institute; Digital Pathways at the Blavatnik School of Government at the University of Oxford; United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) |
| Keywords: | digital inclusion, digital literacy, digital skill development |
| URL: | https://d.repec.org/n?u=RePEc:agg:wpaper:2831 |
| By: | Patrick Joel Turkson (Methodist University Ghana); Felix Amoah (Nelson Mandela University, South Africa); Joseph Gyamfi Yeboah (Methodist University Ghana); Elizabeth Afia Primang Turkson (Elitek International School, Ghana); Laura Novienyo Abla Amoah (Nelson Mandela University, South Africa) |
| Abstract: | This study examined online shopping by highlighting the variations in consumer profiles using selected variables such as gender, age, highest educational level, and marital status. Data was collected through an online survey sent via email to respondents. The online survey was conducted within four months in 2023. A convenience sampling technique was employed to select the total respondents of 437, which constituted the sample size of the study. A 100% response rate was attained. Descriptive statistics, comparing means, and the ANOVA test were employed to analyze the data collected. SPSS version 26 was the statistical tool used for the analysis of the collected data. The study revealed that males aged between 31 and 40, post-graduates, and single mothers mostly shop online frequently. Differences in gender, age, and marital status influence online shopping, however, the highest educational level does not influence online shopping. |
| Keywords: | Online shopping, gender, age, marital status and highest educational level |
| Date: | 2024–07 |
| URL: | https://d.repec.org/n?u=RePEc:smo:raiswp:0417 |
| By: | Augustin Junior Mbam (Université de Lille); Amira Berriche (Université de Lille); Claude Bekolo (Université de Douala) |
| Abstract: | The technological innovation has become essential in the banking industry and has redefined the relationship between banks and their customers. The aim of this communication is to present a synthesis on the major theories and current trends of this innovation. Indeed, the literature shows tensions and shortcomings regarding the theoretical and conceptual perspectives of this innovation. In addition to these perspectives, we propose a new approach called Worm hole to allow banks to go beyond existing innovations by integrating emerging technologies such as the metaverse, AI, crypto-assets, and blockchain. This new approach offers banks the possibility to push the boundaries of banking innovation to reach new horizons of growth and untapped opportunities in an ever-evolving industry. |
| Abstract: | L'innovation technologique est devenue incontournable dans l'industrie bancaire et a redéfini la relation entre la banque et sa clientèle. L'objectif de cette communication est de présenter une synthèse sur les grandes théories et les tendances actuelles de cette innovation. La littérature présente en effet des tensions et insuffisances concernant les perspectives théoriques et conceptuelles de cette innovation. En complément à ces perspectives, nous proposons une nouvelle approche appelée Trou de ver pour permettre aux banques d'aller au-delà des innovations existantes en intégrant les technologies émergentes telles que les métavers, l'IA, les Cryptoactifs et la blockchain. Cette nouvelle approche offre la possibilité aux banques de repousser les limites de l'innovation bancaire pour atteindre de nouveaux horizons de croissance et d'opportunités encore inexploitées dans une industrie en perpétuelle évolution. |
| Keywords: | Technological innovation, Banking sector, Strategic ocean, Black hole, Worm hole, Innovation technologique, Secteur bancaire, Océan stratégique, Trou noir, Trou de ver |
| Date: | 2024–01–18 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04668551 |
| By: | Koharu Nakao (Graduate School of Economics, Kwansei Gakuin University) |
| Abstract: | This study focuses on the e-commerce market and analyzes the pricing behavior of a peer-to-peer platform that intermediates transactions between consumers (individuals). We consider two types of fee rates charged by a platform to consumers. Each consumer type is represented by two vectors, and consumers act depending on the values of these vectors. We investigate how the platform's profit, price of goods, and fee rate are affected by whether the platform charges the fee rate to sellers or buyers. The results indicate that, first, the platform's equilibrium profit is equivalent regardless of whether a fee rate is imposed on sellers or buyers. Second, consumer surplus and social welfare are also equivalent. Finally, the equilibrium price and equilibrium fee rate result in contrasting ones depending on whether sellers or buyers pay the fee. Specifically, when the cost of supply on the seller side increases, the fee rate falls in both cases; however, the price of goods increases more if a platform charges a fee rate to the buyers rather than the sellers. |
| Keywords: | sharing economy, peer-to-peer, e-commerce, fee, platform |
| JEL: | L81 L11 D21 |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:kgu:wpaper:277 |
| By: | Andersen, Christoffer Koch |
| Abstract: | What does it imply to digitalise a state, who stands to benefit and at the expense of whom? Zooming in on the digital Danish state, what if digitalisation made life easier and effortless for cisgender people while making life more difficult and hostile for trans people by hindering their liveability and citizenship through deleting their medical journals, inviting them for the wrong medical tests, blocking them from their bank accounts, denying them access to digital state welfare services and digitally excluding their identities? Despite these ramifications for trans people, existing scholarship only meagerly analyses the complex entangled relationship between transness, colonial and cisnormative legacies, algorithmic systems and nation states with none of them investigating and mapping the digital case of Denmark. In this paper, I assess the state of algorithmic violence and trans (un)liveability underlying and produced by the digitalisation of Denmark, where I argue that Denmark acts as a state extension of algorithmic violence that forces trans people to exist in a precarious state of digital and material unliveability. Based on this, I present three aspects of my preliminary findings which include (1) Healthcare: Digital medical erasure, (2) Bank & Payments: Digital blocking, and (3) MitID & Data: Digital exclusion and glitches, that uncover the concerningly violent, oppressive and ominous conditions of living for trans people in digital Denmark. |
| Date: | 2024–08–27 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:986dc |
| By: | Gualdi, Francesco; Cordella, Antonio; Zavolokina, Liudmila; Bannister, Frank |
| JEL: | J50 |
| Date: | 2024–01–03 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:124563 |
| By: | Hening Wikan Sawiji; Adinda Angelica; Faiq Yahya; Paul Vanderberg; Palmira Permata Bachtiar |
| Keywords: | tech startup, tech startup ecosystem, digital talent development, incubator/accelerator, financial institution |
| URL: | https://d.repec.org/n?u=RePEc:agg:wpaper:3864 |
| By: | Peter Bofinger |
| Abstract: | The paper discusses central digital currencies (CBDCs) with an analytical focus on the European Central Bank's Digital Euro (D€) project, which provides a unique lens for assessing the potential and challenges of CBDCs. The paper differs from the literature on CBDCs and the D€ by adopting a systemic perspective that distinguishes between the role of CBDCs as a new payment object and as a new payment system based on CBDC accounts. In a worst-case scenario, the D€ project could be a total flop, with people not opening accounts and the system failing to compete with existing platforms. This would be in line with the dismal experience of countries that have already introduced CBDCs. In a more positive scenario, many households would open D€ accounts alongside commercial bank accounts, potentially reducing the dominance of US platforms. However, even in this scenario, it is unlikely that there will be significant holdings of D€ deposits as a means of payment, making the D€ payment system an inefficient and costly detour between existing commercial bank accounts. The offline version remains difficult to justify. Our CBDC tracker shows that the ECB's strong commitment to the D€ is unique among central banks in advanced economies. Many of them, including the Federal Reserve, currently rule out the option of a retail CBDC. Thus, the ECB's unconditional commitment to the D€ carries a high risk of failure. It is therefore unclear why the ECB is not considering a scheme based on the existing SEPA infrastructures. |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:imk:studie:95-2024 |
| By: | Maarten R.C. van Oordt (Vrije Universiteit Amsterdam) |
| Abstract: | This paper investigates how cryptocurrencies relate to concepts such as bubbles, Ponzi-schemes and digital gold in a tractable model for cryptocurrency prices. Investors in the baseline equilibrium hold coins to sell them at a profit to future users if they anticipate in increase in transactional demand per coin. Investors in a bubble equilibrium hold the cryptocurrency because they expect its price to appreciate merely due to future investment inflows. Investors who participate in a bubble equilibrium for a cryptocurrency with non-negative money growth experience Ponzi-scheme equivalent payoffs in the aggregate. The net investment inflows required to sustain a bubble equilibrium are smaller for cryptocurrencies with less new issuance, a lower level of transactional demand and higher growth in transactional demand. Cryptocurrencies with negative issuance (e.g., that burn transaction fees) may generate positive aggregate cash flows to investors even if their price path follows a bubble trajectory. |
| Keywords: | Asset pricing, Bitcoin, crypto-asset, exchange rates, rational bubble |
| JEL: | E51 F31 G1 |
| Date: | 2024–08–06 |
| URL: | https://d.repec.org/n?u=RePEc:tin:wpaper:20240050 |
| By: | The SMERU Research Institute; Digital Pathways at the Blavatnik School of Government at the University of Oxford; United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) |
| Keywords: | digital skills development, digital literacy, digital skills |
| URL: | https://d.repec.org/n?u=RePEc:agg:wpaper:2832 |
| By: | Yuqi Chen; Yifan Li; Kyrie Zhixuan Zhou; Xiaokang Fu; Lingbo Liu; Shuming Bao; Daniel Sui; Luyao Zhang |
| Abstract: | In the digital era, blockchain technology, cryptocurrencies, and non-fungible tokens (NFTs) have transformed financial and decentralized systems. However, existing research often neglects the spatiotemporal variations in public sentiment toward these technologies, limiting macro-level insights into their global impact. This study leverages Twitter data to explore public attention and sentiment across 150 countries, analyzing over 150 million geotagged tweets from 2012 to 2022. Sentiment scores were derived using a BERT-based multilingual sentiment model trained on 7.4 billion tweets. The analysis integrates global cryptocurrency regulations and economic indicators from the World Development Indicators database. Results reveal significant global sentiment variations influenced by economic factors, with more developed nations engaging more in discussions, while less developed countries show higher sentiment levels. Geographically weighted regression indicates that GDP-tweet engagement correlation intensifies following Bitcoin price surges. Topic modeling shows that countries within similar economic clusters share discussion trends, while different clusters focus on distinct topics. This study highlights global disparities in sentiment toward decentralized finance, shaped by economic and regional factors, with implications for poverty alleviation, cryptocurrency crime, and sustainable development. The dataset and code are publicly available on GitHub. |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2409.00843 |
| By: | Prabaharan M (Madurai Kamaraj University); M Selvalakshmi (TSM - Thiagarajar School of Management); R Christina Jeya Nithilia (St. Xavier's College, Palayamkottai) |
| Abstract: | Objectives: The present research aims to study how digital touchpoints impact the exploration of purchase opportunities for customers in car purchases. Another purpose is to explore how customers use digital touchpoints to gather information and how it influences their purchase decisions. It also aims to explore the potential mediation effect of "exciting pursuit" on the relationship between using digital touchpoints and exploring purchase opportunities. Methods: The study employed a descriptive approach. A structured online questionnaire was framed that encompassed digital touchpoint usage, information search experience, and purchase opportunities. Stratified and purposive sampling techniques were used to collect data from 605 car owners and prospective buyers across five high-selling states in India. Data analysis via SPSS & SMART-PLS confirmed construct validity, revealed the direct and indirect effects of the model. Findings: Websites and non-official websites emerged as preferred digital touchpoints for information search. Most customers were male (61.4%), aged between 30 and 35 (35.4%). Customers' age is associated with the official websites (p=0.001, χ =14.21) and YouTube (p=0.007, χ =18.698) usage. Enabling digital content search (EDCS; β=0.311, t =7.331), appropriateness of digital information (AOI; β=0.594, t =11.556) positively impact Exciting Pursuit (EP; β=0.629, t =27.610) and the customer's interest in exploring various purchase opportunities (EPO). EP (t=28.525) significantly influences EPO and act as a mediator between EDCS/AOI (t=11.834/t = 7.399) and EPO. Novelty: This research focuses on the role of digital touchpoints in the car purchase journey in India. It focuses on the customer's emotional response to the digital touchpoints, which are used to gather information for their purchase, and it is creating a mediating effect of exciting pursuit in the relationship between digital touchpoints and purchase opportunities. By leveraging the S-O-R model, this study contributes to the current discussion regarding the changing role of digital touchpoints in the automobile industry. Keywords: Digital Touchpoints, Digital Marketing, StimuliOrganismResponse Model, Car Buyer Behaviour, Automobile Industry, Structural Equation Modelling |
| Keywords: | Digital Touchpoints Digital Marketing StimuliOrganismResponse Model Car Buyer Behaviour Automobile Industry Structural Equation Modelling, Digital Touchpoints, Digital Marketing, StimuliOrganismResponse Model, Car Buyer Behaviour, Automobile Industry, Structural Equation Modelling |
| Date: | 2024–07–31 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04668727 |