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on Payment Systems and Financial Technology |
| By: | Ambler, Kate; Bakhtiar, M. Mehrab; Bloem, Jeffrey R.; Uddin, Mohammad Riad |
| Abstract: | In places such as rural Bangladesh, cash is the dominant medium for payments despite potential benefits of digital payments. We offer survey respondents an incentive-compatible choice for compensation: 200 Taka cash or randomly varied mobile money amounts (200-400 Taka). Only eight percent chose digital payment at parity and respondents exhibit an average willingness-to-pay of 43 percent of the payment value to receive cash payment. This preference persists across demographics, including among mobile money account holders. Within-household analysis reveals that 77 percent of the effect stems from individual-level rather than household-level factors, highlighting the importance of demand-side barriers on digital payments. |
| Keywords: | rural areas; payment agreements; consumer behaviour; smartphones; digital technology; willingness to pay; Bangladesh; Asia; Southern Asia |
| Date: | 2025–12–16 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:gsspwp:178890 |
| By: | Ambler, Kate; Bakhtiar, M. Mehrab; Bloem, Jeffrey R.; Uddin, Mohammad Riad |
| Abstract: | In places such as rural Bangladesh, cash is the dominant medium for payments despite potential benefits of digital payments. We offer survey respondents an incentive-compatible choice for compensation: 200 Taka cash or randomly varied mobile money amounts (200-400 Taka). Only eight percent chose digital payment at parity and respondents exhibit an average willingness-to-pay of 43 percent of the payment value to receive cash payment. This preference persists across demographics, including among mobile money account holders. Within-household analysis reveals that 77 percent of the effect stems from individual-level rather than household-level factors, highlighting the importance of demand-side barriers on digital payments. |
| Keywords: | rural areas; payment agreements; consumer behaviour; smartphones; digital technology; willingness to pay; Bangladesh; Southern Asia |
| Date: | 2025–12–16 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:ifprid:178890 |
| By: | Thomas Ferguson (University of Massachusetts, Boston); Jie Chen (University of Massachusetts, Boston); Matthias Lalisse (Johns Hopkins University); Paul Jorgensen (University of Texas Rio Grande Valley) |
| Abstract: | In November, 2022, the giant cryptocurrency exchange FTX filed for bankruptcy. The financial fallout from that event, including two bank failures, made crypto politically radioactive. Yet less than three years later, crypto, like Donald Trump himself, staged a triumphant Second Coming, as the President signed into law the so-called "GENIUS Act" - short for Guiding and Establishing National Innovation for U.S. Stablecoins. Analysts have traced the industry's phoenix-like resurrection, showing how key crypto billionaires and companies aligned with Trump early in the 2024 campaign, transforming him from a skeptic into a political champion. But the flip side of the story is much less discussed: how support for crypto has grown among Democrats. This paper analyzes voting by House Democrats on the GENIUS and Clarity Acts, in the context of the campaign for sweeping financial deregulation mounted by both crypto and traditional finance. The implications of a growing race to the bottom in financial regulation and emerging challenges in cybersecurity receive attention. |
| Keywords: | crypto, financial deregulation, central bank digital currency, Donald Trump, money, regulation, campaign contributions |
| JEL: | E42 G28 E58 K23 L51 P16 |
| Date: | 2026–01–12 |
| URL: | https://d.repec.org/n?u=RePEc:thk:wpaper:inetwp245 |
| By: | Lwanga Elizabeth Nanziri; Paul Terna Gbahabo; Daniel Ofori-Sasu |
| Abstract: | This study examines the effect of open banking on financial inclusion in South Africa. |
| Date: | 2026–03–16 |
| URL: | https://d.repec.org/n?u=RePEc:rbz:wpaper:11100 |
| By: | Tarek, Abdallah; Abdelhadi, Ali; Karachiwalla, Naureen |
| Abstract: | Digital technologies have rapidly reshaped agricultural systems worldwide, and Egypt is no exception. Over the past decade, the proliferation of smartphones, mobile internet, and low-cost digital tools has opened new channels through which farmers, traders, processors, and aggregators access information and services. Smartphone applications, websites, call centers, and SMS-based platforms now offer advice on crop management, weather and climate alerts, input and output price information, traceability tools, and digital marketplaces. For smallholder farmers—who make up the backbone of Egypt`s agricultural sector—these tools have the potential to reduce information frictions, improve decision-making, and increase productivity and profitability. For larger firms engaged in aggregation, processing, or export, digital platforms can streamline supply chains, enhance coordination, and improve quality assurance. |
| Keywords: | digital agriculture; digital technology; software development; computer applications; Egypt; Africa; Northern Africa; Middle East |
| Date: | 2025–12–05 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:prnote:178598 |
| By: | Alfred Michel Nandnaba (UCA - Université Clermont Auvergne) |
| Abstract: | While armed conflict remains a major impediment to economic and political stability in developing countries, the potential role of digital financial inclusion, particularly mobile money, in mitigating violent conflict remains largely unexplored. This article examines the impact of mobile money adoption on armed conflict across 103 developing countries from 2000 to 2020, using the Entropy Balancing method to address selection bias. The findings show that mobile money significantly reduces violent conflicts, with an average decrease of 282 conflict-related deaths. These results remain robust across various sensitivity checks, including alternative model specifications, instrumental variable techniques to account for the reverse causality, and analyses of dynamic and spillover effects. The study also highlights important heterogeneity in the impact depending on the type of mobile money service, the country's level of development, the duration of the conflict, financial sector development, and geographic region. Moreover, it identifies key economic channels, including income, unemployment, inequality, and consumption volatility, through which mobile money contributes to the reduction of violent conflict. These findings underscore the strategic importance of digital financial services for promoting peace and fostering economic development in low- and middle- income countries. |
| Keywords: | Developing countries, Entropy Balancing, Mobile Money, Violent conflicts |
| Date: | 2026–03–05 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04566893 |
| By: | Born, Alexandra; Gati, Zakaria; Lambert, Claudia; Naeem, Mahvish; Pellicani, Antonella |
| Abstract: | Decentralised Finance (DeFi) emerged in 2021 as a fast-growing crypto segment, attracting policymakers’ attention due to its innovative approach of delivering financial services without relying on centralised intermediaries. This paper assesses DeFi governance arrangements for regulating and supervising DeFi using a comprehensive dataset. We find that governance token holders of four protocols (Aave, MakerDAO, Ampleforth, Uniswap) are highly concentrated with around half or more holdings linked to the protocols themselves or exchanges. Top voters are mostly delegates, who, in many cases, could not be identified nor linked to token holders. The study offers insights for policymakers regarding the implementation of policy measures aimed at bringing relevant entities under the regulatory umbrella. The difficulty in identifying holders and voters using public data may make it hard to rely on some of the regulatory anchor points often put forward in the policy debate such as governance token holders, developers or centralised exchanges. JEL Classification: G18, G23, G28, O33 |
| Keywords: | decentralised finance, financial stability risks, governance, regulation |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:ecb:ecbwps:20263208 |
| By: | Radosław Kotkowski; Piotr Dybka; Anna Iwona Piotrowska; Leo Van Hove |
| Abstract: | This paper examines the relationship between cash usage in consumer transactions and corruption perception for a panel of 29 developed countries from 2012 to 2024. We construct a unique dataset based on payment diary studies conducted in these countries to gauge the share of cash transactions in the total volume of consumer payments. Using Bayesian Model Averaging, we find strong evidence that cash prevalence affects the corruption perception. Notably, traditional macroeconomic variables show minimal impact on corruption perception, indicating that payment habits may be more influential than broader economic conditions. These findings suggest that policies promoting electronic payments could enhance transparency and reduce perceived corruption by creating traceable transaction records that limit opportunities for corrupt practices. |
| Keywords: | Cash Usage, Corruption, Bayesian Model Averaging, Electronic Payments |
| JEL: | C11 C33 D73 O17 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:sgh:kaewps:2025114 |
| By: | Falk Bräuning; Joanna Stavins |
| Abstract: | The response of credit card spending to interest rate changes has significant implications for how monetary policy affects consumer spending and therefore the broader economy because credit cards have become a dominant payment method in the United States. However, the aggregate effect masks important differences across types of cardholders. As the authors show, the impact of interest rate changes on individual consumers depends critically on whether they carry a balance on their card, and it depends on their credit score, indicating that different segments of the population respond differently to monetary policy. |
| Keywords: | credit cards; interest rates; consumer spending |
| JEL: | D12 D14 E43 G21 |
| Date: | 2026–03–25 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fedbcq:102937 |
| By: | Chung-Hoo Poon; James Kwok; Calvin Chow; Jang-Hyeon Choi |
| Abstract: | Anti-money laundering (AML) systems are important for protecting the global economy. However, conventional rule-based methods rely on domain knowledge, leading to suboptimal accuracy and a lack of scalability. Graph neural networks (GNNs) for digraphs (directed graphs) can be applied to transaction graphs and capture suspicious transactions or accounts. However, most spectral GNNs do not naturally support multi-dimensional edge features, lack interpretability due to edge modifications, and have limited scalability owing to their spectral nature. Conversely, most spatial methods may not capture the money flow well. Therefore, in this work, we propose LineMVGNN (Line-Graph-Assisted Multi-View Graph Neural Network), a novel spatial method that considers payment and receipt transactions. Specifically, the LineMVGNN model extends a lightweight MVGNN module, which performs two-way message passing between nodes in a transaction graph. Additionally, LineMVGNN incorporates a line graph view of the original transaction graph to enhance the propagation of transaction information. We conduct experiments on two real-world account-based transaction datasets: the Ethereum phishing transaction network dataset and a financial payment transaction dataset from one of our industry partners. The results show that our proposed method outperforms state-of-the-art methods, reflecting the effectiveness of money laundering detection with line-graph-assisted multi-view graph learning. We also discuss scalability, adversarial robustness, and regulatory considerations of our proposed method. |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2603.23584 |
| By: | Ferrari Minesso, Massimo; Lebastard, Laura; Bagur, Olga Triay |
| Abstract: | This paper provides the first causal estimate of the economic impact of interlinking payment systems across countries. We exploit a new dataset of payment systems interlinking initiatives, which identifies over 2, 000 connections, and employ standard gravity methods to estimate their impact on trade flows. Consistent with trade costs theory, we find that inter-connected countries have around 4% higher trade volumes, roughly half the effect of a trade agreement and a quarter of the effect of a common currency area. Our results isolate the average effect on trade, of directly connecting fast payment systems, net of country pairs already accessing the correspondent banking network. The estimated impact is larger for payment systems that allow wholesale transactions, those that link small countries, which, typically, are less connected to the correspondent banking network, and for geographical areas that face high cross-border payment costs. This suggests that the benefits from interlinking are derived from reduced cross-border trade costs. Our findings are causal – proved by parametric and semi-parametric estimators – and robust to numerous additional controls, including exclusion of the largest interlinked country group, the euro area. JEL Classification: E42, F15, F30 |
| Keywords: | fast payment systems, interlinking, trade |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:ecb:ecbwps:20263202 |
| By: | Budnik, Katarzyna |
| Abstract: | This paper maps the euro-area digital-banking segment and assesses how digital banks transmit monetary policy relative to brick-and-mortar peers. I compile a hand-checked universe of over 170 digital banks (2016–2025) from supervisory data, classifying institutions by business model (e-retail, e-service, e-wholesale). Digital banks are small on average yet growing fast, rely more on household deposits—predominantly overnight—and hold larger cash buffers and intangibles than traditional banks. Using a difference-in-differences design around the ECB tightening cycle that began in July 2022 and the initial 2024 easing. Three results stand out. (i) The funding channel is stronger and faster at digital banks in tightening: household deposit rates rise more and retail-funding spreads compress less, especially at overnight maturities and for stand-alone digital banks. Corporate-funding results are directionally similar but weaker and less robust. (ii) Loan-rate pass-through is not stronger, implying margin compression and a later slowdown in lending growth at digital banks despite continued retail inflows. Household deposits are markedly more rate-sensitive than corporate or unsecured funding. (iii) In early easing, digital banks cut new funding rates relatively quickly —particularly at longer maturities — yet effective deposit premia persist and retail inflows soften while margins begin to normalise. Policy implications concern the interaction of market digital adoption and banks’ capacity to adjust balance-sheet duration through the monetary cycle, along with financial stability. JEL Classification: E52, G21, E51, E43, E58, O3 |
| Keywords: | deposit competition, deposit rate pass-through, digital banks, ECB tightening cycle, household deposits, monetary policy transmission, neobanks, overnight deposits, retail funding |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:ecb:ecbwps:20263206 |
| By: | Berrayhane, Hana; El Ferktaji, Riadh |
| Abstract: | This study examines the combined impact of financial openness and digital transformation on economic growth, distinguishing between developed and emerging countries. Although these two factors have been widely studied separately, their interaction has not been explicitly addressed in existing literature. This study aims to fill this research gap by analyzing their joint effects on economic growth. Our study covers a sample of 37 countries, including 17 emerging and 20 developed economies, over the period 2010–2023. The main finding of this study highlights that the interaction between financial openness and digital transformation produces differentiated effects depending on the level of development. For emerging economies, the negative and statistically significant effect suggests that, without strong institutions or mature digital infrastructures, this interaction may exacerbate economic vulnerabilities. For developed countries, the absence of significance indicates that, despite a slight negative tendency, their robust systems help absorb the potential adverse effects of this interaction. |
| Keywords: | Financial openness, Digital transformation and Economic growth. |
| JEL: | F36 O43 O47 |
| Date: | 2026–01–09 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:127658 |
| By: | Alexander Kropiunig; Svetlana Kremer; Bernhard Haslhofer |
| Abstract: | Crypto Key Opinion Leaders (KOLs) shape Web3 narratives and retail investment behaviour. In volatile, high-risk markets, their credibility becomes a key determinant of their influence on followers. Yet prior research has focused on lifestyle influencers or generic financial commentary, leaving crypto KOLs' understandings of motivation, credibility, and responsibility underexplored. Drawing on interviews with 13 KOLs and self-determination theory (SDT), we examine how psychological needs are negotiated alongside monetisation and community expectations. Whereas prior work treats finfluencer credibility as a set of static credentials, our findings reveal it to be a self-determined, ethically enacted practice. We identify four community-recognised markers of credibility: self-regulation, bounded epistemic competence, accountability, and reflexive self-correction. This reframes credibility as socio-technical performance, extending SDT into high-risk crypto ecosystems. Methodologically, we employ a hybrid human-LLM thematic analysis. The study surfaces implications for designing credibility signals that prioritise transparency over hype. |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2603.12000 |
| By: | Maxime Malafosse (COACTIS - COnception de l'ACTIon en Situation - UL2 - Université Lumière - Lyon 2 - UJM - Université Jean Monnet - Saint-Étienne, FAYOL-ENSMSE - Institut Henri Fayol - Mines Saint-Étienne MSE - École des Mines de Saint-Étienne - IMT - Institut Mines-Télécom [Paris], Mines Saint-Étienne MSE - École des Mines de Saint-Étienne - IMT - Institut Mines-Télécom [Paris]); Amandine Pascal (LEST - Laboratoire d'Economie et de Sociologie du Travail - AMU - Aix Marseille Université - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | After the 2008 financial crisis, the role of money and the structure of modern monetary systems have become subject to renewed scrutiny. The existing system, marked by extensive financialisation, power concentration, and rising social inequality, is considered incompatible with social justice and ecological sustainability goals. Consequently, decentralised monetary initiatives have emerged as alternatives reshaping and rethinking the nature and governance of money. Of these initiatives, locally managed community currencies (CCs) have risen to prominence, as they view money as a commons designed to serve community needs rather than generate profit. However, the design and governance of CCs remain underdeveloped due to either too broad design principles or empirical insights lacking a theoretical foundation. This study proposes a structured set of design principles, which link theoretical insights to practical guidance. Drawing on a design science approach in a European project, we develop four actionable design principles that guide local communities in creating and adapting CCs to their respective socioeconomic contexts. By integrating insights from contemporary CC literature and practitioners' guidance research, this study offers a flexible yet structured toolkit for designing, deploying, and maintaining CCs. The framework emphasises the importance of balancing technological opportunities with community needs, ensuring the association of CCs with local realities and collective goals. This study helps redefine and design money as a democratic, socially embedded institution capable of fostering equity, resilience, and ecological transition. As such, it contributes to design science knowledge about solving the problem of societal and ecological transformation. |
| Keywords: | Community currencies, Commons, Design Science, Design principles, Blockchain technology, Local Complementray Currencies |
| Date: | 2026–04 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:emse-05520945 |
| By: | Takagi, Shinji |
| Abstract: | We explore a phenomenon observed during the Second Sino-Japanese War in which the value of the Japanese yen in Shanghai fell below the official rate. Shanghai provided a parallel market in which yen could be traded indirectly against British pounds through the intermediation of the Chinese yuan. The implied yen-pound rate was broadly approximated by purchasing power parity (PPP) before a significant divergence from PPP emerged in favour of the pound. This likely reflected negative news that signalled, among other things, a prospective withdrawal of Japanese yen as occupation money, which meant that the parallel market would close. |
| Keywords: | China during the Second Sino-Japanese War, parallel foreign exchange market, occupation currency, Japanese occupation currency in China, Sino-Japanese War |
| JEL: | F31 F33 E42 N25 |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:agi:wpaper:02000262 |
| By: | Luis Araujo (Michigan State University and Sao Paulo School of Economics); Ryuichiro Izumi (Department of Economics, Wesleyan University); Fabrizio Mattesini (Universita di Roma, Tor Vergata, Italy) |
| Abstract: | We study how debt tradability in secondary markets affects efficiency and fragility. Motivated by fiat-backed stablecoins, we extend the Diamond-Dybvig framework by allowing a fraction of the issuer’s liabilities to be transferred to outside investors before the investment matures, while holders retain the option of redeeming with the issuer. Tradability improves efficiency by allowing the issuer to invest in less liquid, more productive investments. However, tradability has a non-monotone effect on fragility. When secondary markets are thin, tradability introduces self-fulfilling debt runs as an additional source of coordination failure, increasing fragility. Yet when secondary markets are sufficiently liquid, this additional source of coordination failure instead eliminates fragility altogether, as the issuer can meet all early redemptions from liquidation alone regardless of investor behavior. Thus, tokenizing demandable debts can decrease fragility although it in principle adds another source of coordination failure. Our results suggest that the designs of stablecoins, tokenized deposits, and tokenized MMFs should focus on ensuring sufficient depth in secondary markets. |
| Keywords: | bank runs, debt runs, tradable debts, stablecoins |
| JEL: | G21 G28 E42 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:wes:weswpa:2026-006 |
| By: | Aerts, Senne; Bindseil, Ulrich; Born, Alexandra; Brandi, Marco; Coste, Charles-Enguerrand; Deflorio, Anita; Delić, Eldin; Della Gatta, Daniela; Derviz, Alexis; Ferrari Minesso, Massimo; Fessler, Pirmin; Gati, Zakaria; Giammusso, Sara; Haslhofer, Bernhard; Kasimati, Agapi; Kochanska, Urszula; Koutrouli, Eleni; Lambert, Claudia; Manousopoulos, Polychronis; Marchi, Edoardo; Blazquez, María Cristina Molero; Nardelli, Matteo; Neugebauer, Katja; Nobili, Andrea; Painelli, Laura; Pantelopoulos, George; Paula, Georg; Raunig, Burkhard; Reinhold, Elisa; Rocco, Giorgia; Rubera, Eugenio; Saggese, Pietro; Schuster, Wagner Eduardo; Segalla, Esther; Siena, Daniele; Sigmund, Michael; Soemer, Nicolas; Zitan, Salim Talout; Theal, John; van der Kraaij, Anton; Weber, Beat; Abbassi, Maha; AlAsadi, Lala; Basilico, Eleonora; De Dhaem, Pauline Bégasse; Bewaji, Oluwasegun; Biancotti, Claudia; Gallardo, Carles Cerqueda; Cheliout, Sarah; Corio, Michele; Di Iorio, Alberto; Dziwok, Agata Magdalena; Feder, Marek; Ferraris, Giulia; Filippetta, Alice; Grau, Paul; Gugnani, Aayush; Gupta, Tarush; Heijmans, Ronald; Helal, Yosra; Iachini, Eleonora; Karanikolas, Georgios; Kelly, Conor; Kroon, Mauritia; Lauba, Andres; Määttä, Ilari; Makridis, Christos; Mastropietro, Ferdinando; Moscatelli, Mirko; Nogueira, Laura; Pinto, Diogo; Porubcanová, Petra; Rosset, Héloïse; Rossi, Teele; Salemans, Nico; Søndergaard, Rasmus Bobek; Teyssedre, Jean; Vassallo, Pietro; Wolff, Olivier; Ziaka, Lamprini |
| Abstract: | This paper provides an overview of analytical work conducted largely in 2025, under their own aegis, by experts from various European central banks and authorities in the field of crypto-asset monitoring and presented at the Crypto-Asset Monitoring Expert Group (CAMEG) 2025 Conference. Currently, risks stemming from crypto-assets and the potential implications for central banking and relevant authorities’ domains remain limited and/or manageable, also given the existing regulatory and oversight frameworks. Nevertheless, the importance of monitoring developments in crypto-assets, raising awareness of the potential risks and fostering analytical preparedness cannot be overstated. This paper offers a brief background of the 2025 activities of CAMEG, which brings together experts from the European System of Central Banks and the European Banking Authority. It also provides abstracts from various CAMEG and non-CAMEG papers and other analytical works presented at the conference held on 30 and 31 October 2025. The conference aimed to take stock of analytical work and data issues in the area of crypto-assets, while fostering European collaboration and monitoring in this field. Finally, this paper outlines the prospective way forward for CAMEG, focusing on gaining greater insight into data and deepening analytical work on interlinkages, crypto-asset adoption and the latest trends. JEL Classification: E42, G21, G23, O33 |
| Keywords: | crypto-asset data, crypto-asset risks, crypto-assets, monitoring |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:ecb:ecbops:2026382 |
| By: | Khaled Saadaoui (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School); Patrice Rivas (EDF [E.D.F.] - EDF – Électricité de France) |
| Abstract: | This article examines how major French companies integrate digital vulnerability into their corporate social responsibility (CSR) strategies. Based on a qualitative study conducted with five organizations (SFR, Bouygues, La Poste, EDF, SNCF), it analyzes the perceptions, mechanisms, and limitations of their engagement in this domain. The findings reveal often fragmented approaches, largely outsourced to nonprofit partners. Building on the frameworks of Selwyn (2004), Van Dijk (2005), and Gond et al. (2009), the article highlights the tensions between image management, authenticity, and transformative impact. From a managerial perspective, it advocates for a more integrated governance of digital inclusion and the strategic evaluation of einclusion within CSR policies. |
| Abstract: | Cet article interroge la manière dont les grandes entreprises françaises intègrent la précarité numérique dans leur stratégie RSE. À partir d'une enquête qualitative menée auprès de cinq groupes (SFR, Bouygues, La Poste, EDF, SNCF), il analyse les perceptions, dispositifs et limites de ces engagements. Les résultats mettent en évidence des démarches souvent fragmentées et en grande partie confiées à des partenaires associatifs. S'inspirant de Selwyn (2004), Van Dijk (2005) et Gond et al. (2009), l'article met en lumière les tensions entre image, sincérité et transformation. Sur le plan managérial, il plaide pour une gouvernance plus intégrée de l'inclusion numérique et pour l'évaluation stratégique de l'e-inclusion au sein des politiques RSE. |
| Keywords: | Digital Inclusion, Collaborative Governance, Digital Illiteracy, Corporate Social Responsibility (CSR), Digital Divide, Précarité numérique, Responsabilité sociale de l’entreprise (RSE), Illectronisme, Inclusion numérique, Gouvernance partenariale |
| Date: | 2026–01–27 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05543767 |
| By: | Florian Ballier (CREOGN - Centre de recherche de l'École des officiers de la gendarmerie nationale) |
| Abstract: | "Financial crimes, complex and transnational, don't just threaten the economy—they also make people lose trust in the system and impact financial stability. In 2012, these crimes cost France an estimated €20 billion1. This growing and constantly evolving threat has led France to strengthen its law enforcement arsenal, providing its investigative services with the necessary resources and skills. However, experts such as economist Jean-François Gayraud argue that capitalism has created an environment conducive to large-scale fraud. Money made from illegal activities, such as drug trafficking, infiltrates and corrupts the legitimate economy, blurring the lines between white-collar and organized crime. In other words, these two forms of crime, which were once perceived as distinct, are more connected than ever. (...)" |
| Date: | 2026–01 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05453372 |