The classical and neoclassical perspectives: A theoretical framework for studying the advent and growth of mobile money—The Tanzanian experience

Deogratius Joseph Mhella

Review of Development Economics, 2025, vol. 29, issue 1, 105-144

Abstract: The article addresses the need for comprehensive analytical frameworks or perspectives in mobile money research. It also proposes and develops a conceptual framework utilizing classical and neoclassical perspectives. The interdisciplinary nature of mobile money studies and the need for robust analytical frameworks or perspectives pose a significant challenge to researchers, creating a political‐economic gap in analyzing mobile money. In this case, classical and neoclassical mindsets bridge this gap in mobile money analysis. Moreover, the article also addresses the following research question: How have classical and neoclassical perspectives influenced the emergence and growth of mobile money in Tanzania throughout the past 15 years? The argument posits that implementing and dismantling neoliberal policies have facilitated the introduction and advancement of mobile money, drawing upon classical and neoclassical principles. In‐depth, unstructured interviews and content analysis from relevant and scholarly sources have been used as data collection methods. Thematic analysis has also been used for data analysis. The findings indicate that researchers can rely on classical and neoclassical perspectives to analyze mobile money's advent, growth, and consolidation. The implications are that classical and neoclassical perspectives provide a context and a unit of analysis that can be used to study the political‐economic issues of mobile money and other digital financial innovations.

Date: 2025
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