Research Newsletter Online 2/2008

  

2/2008

Editorial

It is often argued that technology drives payment innovations. This statement would seem to be fairly self-evident. However, it remains uncertain whether the resulting payment options will be widely adopted by agents in different corners of society. The introduction of new payment channels presents challenges not only for payment providers but also for merchants and consumers.
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Capital deepening, ability to produce new technologies and economic growth: in search of generalities from data

Differences in growth performance across western industrialized countries are surprisingly large and persistent. Recent growth data suggests, interestingly, that these countries belong to different growth clubs, with the membership of each club being determined by a threshold requirement on a candidate country's growth rate. Differences in the growth rates of countries belonging to different clubs can be striking.
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Is it about being informed? Quantifying the effects of consumer awareness on the use of payment media

Successful technological innovations and the regulatory reforms of past decades have brought payment media to the forefront of business, social and political interest. More extensive use of debit and credit cards and, arguably, decreasing use of cash suggest a thoroughgoing change in methods of payment for goods and services. Innovation has generated new payment instruments, such as smart cards and those embedded in mobile phones, which are entering commercial use and making money more digital and less tangible.
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Russian banking sector evolving differently from those in other transition economies

It is clear that the functioning and efficiency of an economy's financial sector has an impact on economic development. Several studies suggest that a broadly-based and efficient financial sector enhances an economy's long-term growth potential. In a number of poorer countries, the banking system plays a very important role in financial intermediation, which further highlights the importance of banks to economic progress.
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Editor
Jouko Vilmunen

Publisher
Bank of Finland
ISSN 1796-9131
(online)

PO Box 160,
FI–00101 Helsinki

Email:
research@bof.fi

Research Newsletter 2/2008 (PDF)