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Payment instruments, finance and development
This paper studies the effects of a payment technology innovation (mobile money) on entrepreneurship and economic development in a quantitative dynamic general equilibrium model. In the model mobile money dominates fiat money as a medium of exchange, since it avoids the risk of theft, but comes with electronic transaction costs. We show that entrepreneurs with higher productivity and access to trade credit are more likely to adopt mobile money as a payment instrument vis-a-vis suppliers. Calibrating the stationary equilibrium of the model to match firm-level data from Kenya, we show significant quantitative implications of mobile money for entrepreneurial growth and macroeconomic development
Public identification with sustainable development : Investigating cultural barriers to participation.
It is increasingly recognized that the success of sustainable development initiatives depends on widespread public identification and support. Indeed, public participation has become a core component of the official discourse of sustainable development, particularly at local level. However to date there has been little research examining the âculturalâ factors governing the potential public uptake of sustainability. This paper reports on a study using focus groups drawn from different sections of the Lancashire public which sought to cast light on public understanding of and identification with sustainable development. Considerable public support was found for the idea that current ways of life are generating problems for the future and that economic activity would have to be held within environmental limits. However there was very little support for the idea that sustainabillty would be achieved through government and business initiatives. Government in particular was deeply mistrusted as part of the âsystemâ which was generating environmental and social problems. The paper argues that this mistrust in government and the lack of a sense of individual agency has serious implications for the political salience of sustainable development. Initiatives to generate public participation, particularly by providing information through sustalnability indicators, are unlikely to succeed unless this is addressed