Stages of Development of Payment Systems : Leapfrogging across Countries and MENA's Place in the World

This paper studies the relationship between the level of economic development and the incidence of three forms of payments across countries, namely the incidence of bank accounts, digital payments, and mobile money accounts among the adult populati...

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Main Authors:	Gevaudan, Clement, Lederman, Daniel
Format:	Working Paper
Language:	English
Published:	World Bank, Washington, DC 2020
Subjects:	PAYMENT SYSTEM BANKING DIGITAL PAYMENT MOBILE MONEY DIGITAL TECHNOLOGY INNOVATION FINANCIAL DEVELOPMENT
Online Access:	http://documents.worldbank.org/curated/en/284091578403310061/Stages-of-Development-of-Payment-Systems-Leapfrogging-across-Countries-and-MENAs-Place-in-the-World http://hdl.handle.net/10986/33153

id	okr-10986-33153
recordtype	oai_dc
spelling	okr-10986-331532022-09-20T00:13:21Z Stages of Development of Payment Systems : Leapfrogging across Countries and MENA's Place in the World Gevaudan, Clement Lederman, Daniel PAYMENT SYSTEM BANKING DIGITAL PAYMENT MOBILE MONEY DIGITAL TECHNOLOGY INNOVATION FINANCIAL DEVELOPMENT This paper studies the relationship between the level of economic development and the incidence of three forms of payments across countries, namely the incidence of bank accounts, digital payments, and mobile money accounts among the adult populations across countries. It presents simple statistical tests of leapfrogging, the phenomenon by which poor countries surpass rich countries in the provision of payments mechanisms. It contributes to a broader and long-standing literature on stages of development, as well as to the literature on financial development and access to finance. The findings suggest that there is evidence of "absolute" and "relative" leapfrogging, with both terms defined in the paper. In addition, the Middle East and North Africa region, on average, suffers from a notable underperformance gap across all observed stages of payment-systems development. This finding suggests that the region suffers from structural impediments to the development of its financial and banking systems that go well beyond the adoption of digital-technology tools. 2020-01-09T17:56:31Z 2020-01-09T17:56:31Z 2020-01 Working Paper http://documents.worldbank.org/curated/en/284091578403310061/Stages-of-Development-of-Payment-Systems-Leapfrogging-across-Countries-and-MENAs-Place-in-the-World http://hdl.handle.net/10986/33153 English Policy Research Working Paper;No. 9104 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper Middle East and North Africa Middle East North Africa
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	PAYMENT SYSTEM BANKING DIGITAL PAYMENT MOBILE MONEY DIGITAL TECHNOLOGY INNOVATION FINANCIAL DEVELOPMENT
spellingShingle	PAYMENT SYSTEM BANKING DIGITAL PAYMENT MOBILE MONEY DIGITAL TECHNOLOGY INNOVATION FINANCIAL DEVELOPMENT Gevaudan, Clement Lederman, Daniel Stages of Development of Payment Systems : Leapfrogging across Countries and MENA's Place in the World
geographic_facet	Middle East and North Africa Middle East North Africa
relation	Policy Research Working Paper;No. 9104
description	This paper studies the relationship between the level of economic development and the incidence of three forms of payments across countries, namely the incidence of bank accounts, digital payments, and mobile money accounts among the adult populations across countries. It presents simple statistical tests of leapfrogging, the phenomenon by which poor countries surpass rich countries in the provision of payments mechanisms. It contributes to a broader and long-standing literature on stages of development, as well as to the literature on financial development and access to finance. The findings suggest that there is evidence of "absolute" and "relative" leapfrogging, with both terms defined in the paper. In addition, the Middle East and North Africa region, on average, suffers from a notable underperformance gap across all observed stages of payment-systems development. This finding suggests that the region suffers from structural impediments to the development of its financial and banking systems that go well beyond the adoption of digital-technology tools.
format	Working Paper
author	Gevaudan, Clement Lederman, Daniel
author_facet	Gevaudan, Clement Lederman, Daniel
author_sort	Gevaudan, Clement
title	Stages of Development of Payment Systems : Leapfrogging across Countries and MENA's Place in the World
title_short	Stages of Development of Payment Systems : Leapfrogging across Countries and MENA's Place in the World
title_full	Stages of Development of Payment Systems : Leapfrogging across Countries and MENA's Place in the World
title_fullStr	Stages of Development of Payment Systems : Leapfrogging across Countries and MENA's Place in the World
title_full_unstemmed	Stages of Development of Payment Systems : Leapfrogging across Countries and MENA's Place in the World
title_sort	stages of development of payment systems : leapfrogging across countries and mena's place in the world
publisher	World Bank, Washington, DC
publishDate	2020
url	http://documents.worldbank.org/curated/en/284091578403310061/Stages-of-Development-of-Payment-Systems-Leapfrogging-across-Countries-and-MENAs-Place-in-the-World http://hdl.handle.net/10986/33153
_version_	1764478104959451136

Stages of Development of Payment Systems : Leapfrogging across Countries and MENA's Place in the World

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