Can an Electronic Money Transaction Raise the Inflation Rate? (Indonesian Pre-Pandemic)

Q3 Economics, Econometrics and Finance Finance: Theory and Practice Pub Date : 2023-10-23 DOI:10.26794/2587-5671-2023-27-5-205-218
F. Fadli, V. Devia
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Abstract

Along with the rapid growth of technology, payment instruments are also changing. Electronic money is slowly but surely replacing the role of paper money and coins. The emergence of electronic money can provide convenience for consumers, it can lead to an increase in the demand for goods and services that ultimately leads to demand-pull inflation. The purpose of this study is to determine the impact of electronic money transactions (both in natural and in value terms) on inflation growth. By using the Chow Breakpoint Test, Difference-in-Differences and Propensity Score Matching shows that the inflation trend has tended to decline since the Bank of Indonesia launched its national non-cash campaign. By using the ordinary least squares (OLS) method was revealed that an increase in the volume of electronic money transactions in the long-term may affect a decrease in inflation, but not in the short-term. The rate of interest of the Bank of Indonesia, the growth of lending and GDP led to the decline in inflation. It was concluded that the Bank of Indonesia could expand the use of electronic money to manipulate inflation levels in the long-term. The policy that can be implemented by Bank Indonesia is to distribute electronic money infrastructure services more evenly and increase the socialization of the use of electronic money, especially in remote areas.
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电子货币交易会提高通货膨胀率吗?电视台(印尼)
随着科技的快速发展,支付手段也在发生变化。电子货币正在缓慢但肯定地取代纸币和硬币的角色。电子货币的出现可以为消费者提供便利,它可以导致对商品和服务需求的增加,最终导致需求拉动的通货膨胀。本研究的目的是确定电子货币交易(在自然和价值方面)对通货膨胀增长的影响。通过使用Chow断点检验,差异中的差异和倾向得分匹配表明,自印度尼西亚银行启动全国非现金运动以来,通货膨胀趋势趋于下降。通过使用普通最小二乘(OLS)方法揭示了电子货币交易量的增加在长期内可能会影响通货膨胀的下降,但在短期内不会。印度尼西亚银行的利率,贷款和GDP的增长导致通货膨胀率下降。结论是,印尼央行可以扩大电子货币的使用,以长期操纵通货膨胀水平。印度尼西亚银行可以实施的政策是更均匀地分配电子货币基础设施服务,增加电子货币使用的社会化,特别是在偏远地区。
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来源期刊
Finance: Theory and Practice
Finance: Theory and Practice Economics, Econometrics and Finance-Economics, Econometrics and Finance (miscellaneous)
CiteScore
1.30
自引率
0.00%
发文量
84
审稿时长
8 weeks
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