What Factors Keep Cash Alive in the European Union?

Yulia Titova (), Delia Cornea and Sebastien Lemeunier
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Yulia Titova: IÉSEG School of Management
Delia Cornea: EBS Paris/INSEEC U. Research Center

De Economist, 2021, vol. 169, issue 3, No 2, 317 pages

Abstract: Abstract This paper aims to analyze the determinants of cash usage in a selection of European Union (EU) countries over the 2003–2016 period, based on a set of technological, socioeconomic, and socio-cultural indicators and cost components. Our results reveal the existence of both common and region-specific determinants for the EU advanced and Central and Eastern European (CEE) countries. In both groups cash usage is determined by payment system characteristics. Additionally, in the EU advanced countries cash usage can also be explained by the level of economic development and income inequalities and proliferation of Internet. In contrast, cash usage in CEE countries is negatively associated with consumer confidence and is inversely related to the technological progress, expressed in terms of mobile users.

Keywords: Cash usage; Payment instruments; European Union; CEE countries; Panel data; C23; E41; E42 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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DOI: 10.1007/s10645-021-09384-3

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