Banking technology and cashless economy in selected Sub-Saharan African countries: does education matter?

Urhie, Ese S and Amonu, Ogechi Chiagozie and Mbah, Chiderah and Ewetan, O. O. and Matthew, Oluwatoyin and Adediran, Oluwasogo and Adesanya, Oreoluwa and Adekeye, Adeleke (2021) Banking technology and cashless economy in selected Sub-Saharan African countries: does education matter? Journal of Money Laundering Control, 24 (1). pp. 584-595.

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Abstract

Purpose This study aims to analyze the effect of banking technology [automated teller machine (ATM) and mobile cellular devices (MOBs)] and other traditional factors on the level of currency in circulation for a sample of 21 selected sub-Saharan African (SSA) countries. It also assessed the mitigating effect of education on the relationship between banking technology and the cashless economy. Design/methodology/approach The study used a panel data approach to design a cashless economy model with banking technology – ATM and MOBs – as well as their interaction with education as regressors. Findings This study finds that MOB is significant for promoting a cashless economy, whereas ATM is insignificant in sample SSA countries. The level of education and the number of bank branches were also found to be significant in promoting a cashless economy. The interaction between education and ATM was insignificant but negatively signed, whereas that between education and MOB was significant but had a positive sign.

Item Type:	Article
Uncontrolled Keywords:	Education  Automated teller machine  Mobile phone  Banking technology  Cashless economy
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HB Economic Theory
Divisions:	Faculty of Law, Arts and Social Sciences > School of Management Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User:	Mrs Patricia Nwokealisi
Date Deposited:	06 Jul 2022 11:09
Last Modified:	06 Jul 2022 11:09
URI:	http://eprints.covenantuniversity.edu.ng/id/eprint/16061

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