Cashless Policy and Economic Growth: Beyond Theories, Empiricism to Realism
Journal Title: International Journal of Financial Economics - Year 2014, Vol 3, Issue 4
Abstract
This paper focuses on reforms in the payment system in Nigeria in what is popularly referred to as the cashless policy and the inherent advantages of the policy with a background knowledge and reference to studies on other economies that have embraced the policy. An attempt was made to establish a probable relationship between economic growth and cashless policy via other variables like the doing business index, foreign direct investment that are influenced by the policy. Sequel to the review of the impact of the policy on several economies with conflicting outcomes, the need to ask questions on how the supply and demand for money will be influenced by the policy, what will happen to inflation, how will real sector productivity be enhanced and how will investment inflow be impacted are major issues that must be addressed. Also the problems of infrastructure deficit, ignorance and apathy, insufficient skilled manpower, erratic power supply and insufficient identity management framework must be overcome. Adequate regulatory legislation that will be globally acceptable was also recommended.
Authors and Affiliations
Obademi Olalekan Emmanuel
Keywords
Related Articles
- EP ID EP27287
- DOI -
- Views 307
- Downloads 8
The Bank Credit Transmission Channel of Monetary Policy in Australia
This paper intends to test for the existence of credit channel of monetary policy in Australia using aggregate seasonal data from 1994.1 to 2011.4. Based upon Johansen trace test, two co integrating relationships are f...
On Asset Allocation’ Studies for Sovereign Wealth Funds
The objective of this work is to analyze, after a review of the economic literature reference, the role of Sovereign Wealth Funds in the economy and in particular in asset allocation choices. In fact, after presenting...
Stock Market Price Behavior and Macroeconomic Variables in Nigeria: An Error Correction Analysis
This study examines stock market price behavior and selected key macroeconomic variables in Nigeria within the period (1986-2011.) The co-integration and error correction technique (ECM), impulse response function(IRF)...
An Explanatory Study of Women Entrepreneurs: The Key Success Factors to Start-up a Micro Business
The purpose of this paper is to examine the key success factors to start-up a micro business. This study has been limited for women entrepreneurs in micro business, who graduated from Entrepreneurship Short Courses (ES...
Empirical Research on China’s Corporate Income Tax and Corporate Capital Structure
In 2008, the domestic and foreign corporate income tax systems were unified in China. Based on data of the listed companies in China from 2006 to 2012 and the established model, we find that income tax rates significan...