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on Payment Systems and Financial Technology |
| By: | Milne, Alistair |
| Abstract: | Alistair Milne argues in this ECRI Commentary that ‘FinTech’ (newly emerging Financial Technologies) can play a crucial role in achieving European policy objectives in the area of financial markets. These notably include increasing access by smaller firms to trade credit and other forms of external finance and completing the banking and capital markets unions. He points out, however, that accomplishing these objectives will require a coordinated European policy response, focused especially on promoting common business processes and the adoption of shared technology and data standards. |
| Date: | 2015–11 |
| URL: | http://d.repec.org/n?u=RePEc:eps:ecriwp:11104&r=pay |
| By: | Krupkina, Anna; Ponomarenko, Alexey |
| Abstract: | We apply empirical modelling set-ups developed to capture the hysteresis effect in the data on deposit dollarization in a cross-section of emerging market economies. Specifically, we estimate a nonlinear relationship that determines two equilibrium levels of deposit dollarization depending on the current value of dollarization and previous episodes of sharp depreciation of the national currency over the past five years. When exchange rates are stable, convergence to a higher equilibrium level of dollarization begins when the 45–50% thresh-old of deposit dollarization is exceeded. We estimate the model for short-run dynamics of dollarization and find that the speed of convergence to the higher equilibrium implies quarterly increases of 1.2–3 percentage points in the ratio of foreign currency deposits to total deposits. |
| Keywords: | dollarization, hysteresis, nonlinear model, emerging markets |
| JEL: | E41 F31 |
| Date: | 2015–11–10 |
| URL: | http://d.repec.org/n?u=RePEc:bof:bofitp:2015_032&r=pay |
| By: | Tadesse, Getaw; Bahiigwa, Godfrey |
| Abstract: | This paper examines the impact of mobile phones on farmers’ marketing decisions (spatial arbitrage, buyer’s choice, frequency of selling, and size of transaction) and prices they receive based on household and village level information collected from rural Ethiopia. It explains the reason for the weak impact of mobile phones observed in this study as well as in previous studies in Africa. We argue that even though many farmers participate in information searching, the number of farmers who use mobile phones for information searching is very small. The reason for such low use of mobile phones for information searching seems lack of quality information that can be accessed through mobile phones. |
| Keywords: | mobile phones, agricultural marketing, producer prices, smallholder farmers, Ethiopia, Farm Management, International Development, Marketing, Research and Development/Tech Change/Emerging Technologies, |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae15:212685&r=pay |
| By: | Zepeda, Lydia; Reznickova, Anna |
| Abstract: | We conducted 59 interviews at six sites across the US to assess the impact of mobile markets that had received Farmers Market Promotion Program (FMPP) grants. We found that while mobile markets can be important outlets for producers and improve access to fresh produce for consumers, they are often costly to operate and dwarfed by the distribution of free produce by mobile food pantries operated by food banks. Several of the sites provide innovative partnerships that enhanced the sustainability of the mobile markets and complemented mobile pantries. The interviews highlight the need for coordinated efforts by non-profits and policy makers in addressing markets for producers, especially beginning or small producers, and access to healthy food by the food insecure. |
| Keywords: | mobile markets, local food, food access, Food Security and Poverty, |
| Date: | 2016–05–25 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea16:235892&r=pay |
| By: | Simplice Asongu (Yaoundé/Cameroun); Jacinta C. Nwachukwu (Coventry University) |
| Abstract: | The success of inclusive development strategies in the post-2015 sustainable development agenda depends substantially on the adoption of common inclusive development policies among nations. Building on the relevance of a knowledge economy in the post-2015 development agenda, this study models the feasibility of common policies for inclusive human development in Sub-Saharan Africa (SSA). More specifically, we investigate the complementary role of knowledge diffusion in the inclusive benefits of mobile phone penetration in SSA from 2000 to 2012 by employing the Generalised Method of Moments. Knowledge diffusion variables include educational quality, innovation and internet penetration. The main finding is that inclusive human development is persistently conditional on mobile phones in knowledge diffusion. Moreover, countries with low levels of inclusive human development are catching-up their counterparts with higher development. Policy implications are discussed with particular emphasis on how to leverage common knowledge economy initiatives for inclusive development. |
| Keywords: | Mobile phones; catch-up; inclusive human development; Africa |
| JEL: | G20 I10 I32 O40 O55 |
| Date: | 2016–03 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:16/009&r=pay |
| By: | Kabanda,Patrick |
| Abstract: | Digital technologies have permeated modern life, and their impact on creative work has been revolutionary. This revolution, as widely noted, has disrupted the making, distribution, and consumption of creative output. On the downside, key concerns include Internet-induced piracy and inequality. Yet digital technologies also accelerate opportunities. So, how can these opportunities be reaped to promote creative work for development? Suggestions here include closing the digital gender gap, promoting appropriate intellectual property rights, and providing digital literacy. More needs to be done to understand the benefits and limitations of digital technologies on creative work for human development. |
| Keywords: | E-Business,Cultural Policy,Technology Industry,Arts&Music,Cultural Heritage&Preservation |
| Date: | 2016–05–24 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:7683&r=pay |
| By: | De Groen, Willem Pieter; Maselli, Ilaria; Fabo, Brian |
| Abstract: | This case study provides a snapshot of the dynamics in the digital market for locally provided personal services. Based on a case study for a Belgium platform with 14,113 identified workers and 9,459 posted tasks, the findings suggest that the current intermediation is inefficient. Only a limited share of the tasks posted on the platform are being completed, whereas the characteristics of the not-completed tasks are fairly limited. Moreover, just a small share of the workers participating in the platform is actually performing the completed tasks. Their average earnings per hour are in most cases above the minimum wage and even above the median wage in the offline market. At the present time, however, the limited earnings for individual workers prevent this mode of working from becoming an alternative to a conventional job. In addition to the standard determinants of workers’ earnings (e.g. gender, age, occupation, etc.), the characteristics and evaluation mechanism of the platform have a large influence on the distribution of tasks and earnings. |
| Date: | 2016–04 |
| URL: | http://d.repec.org/n?u=RePEc:eps:cepswp:11438&r=pay |
| By: | Laura-Lucia Richter; Michael G. Pollitt |
| Abstract: | This paper considers the heterogeneity of household consumer preferences for electricity service contracts in a smart grid context. The analysis is based on original data from a discrete choice experiment on smart electricity service contracts that was designed and conducted in collaboration with Accent and 1,892 UK electricity consumers in 2015. The results suggest that while customers are willing to pay for technical support services, they are likely to demand significant compensation to share their usage and personally identifying data and to participate in automated demand response programs. Based on these findings potential platform pricing strategies that could incentivise consumers to participate in a smart electricity platform market are discussed. By combining appropriate participation payments with sharing of bill savings, service providers could attract the number of customers required to provide the optimal level of demand response. We also examine the significant heterogeneity among customers to suggest how, by targeting customers with specific characteristics, smart electricity service providers could significantly reduce their customer acquisition costs. |
| Keywords: | Discrete Choice Experiment, smart energy, Willingness-to-Accept, platform markets |
| JEL: | C18 C38 D12 L94 Q42 Q55 |
| Date: | 2016–05–16 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:1632&r=pay |
| By: | Benigno, Pierpaolo; Robatto, Roberto |
| Abstract: | Can creation of private money fulfill the liquidity needs of the economy? The answer is no if the market of private money is run only by forces of perfect competition. Multiple equilibria are possible: there exist good equilibria with complete satiation of liquidity and absence of default on private money, and bad equilibria characterized by shortage of liquidity and partial default. In this framework, capital requirements, distortions to the demand or supply of private money, and the role of public liquidity in substituting private liquidity or in offsetting liquidity crises are investigated. |
| Date: | 2016–04 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:11242&r=pay |
| By: | Alberto Di Minin (Scuola Superiore Sant'Anna); Chiara Eleonora De Marco (Scuola Superiore Sant'Anna); Cristina Marullo (Scuola Superiore Sant'Anna); Andrea Piccaluga (Scuola Superiore Sant'Anna); Elena Casprini (Scuola Superiore Sant'Anna); Maral Mahdad (Scuola Superiore Sant'Anna); Andrea Paraboschi (Scuola Superiore Sant'Anna) |
| Abstract: | This report synthesizes the results of 13 case studies on innovative ICT and ICT-enabled companies across Europe. It aims to assess the impact of Open Innovation strategies (OISs) on their innovation processes and to highlight the role played by ICT. |
| Keywords: | Open Innovation, ICT, Innovation Ecosystem, SMEs, LE |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc100823&r=pay |