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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
Mobile payments: How digital finance is transforming agriculture
Leading up to the 2014 Fin4Ag – Revolutionising finance for agri-value chains international conference, the Technical Centre for Agricultural and Rural Cooperation (CTA) commissioned a study to explore the state of digital/mobile payments in agriculture. CTA is pleased to present the results of the study that it believes will make an important contribution to the body of knowledge on this topic. The study was carried out using three case studies; SmartMoney from Uganda, NWK Agri-Services from Zambia and Rice Mobile Finance (RiMFin) from Ghana