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Trends And Determinants Of Cash Usage In Non-Eurozone Eu Member States

Author

Listed:
  • Martina Mate

    (University of Zadar, Department of Economics)

  • Zvonimir Brizar

    (University of Zagreb, Faculty of Economics and Business)

Abstract

Technological progress and digital innovations changes consumer payment habits worldwide. Although cash payments are still predominant payment method in European countries, a decreasing trend is observed. Simplicity and accessibility of non-cash ways of payments, along with decreasing availability and restrictions on the use of cash, threaten to push cash from circulation. On the other hand, European Central Bank expressed the importance of cash as a store of value and reliable payment instrument that should be available to all eurozone citizens. The aim of this paper is to analyse the trends and determinants of cash usage in 8 non-euro zone European union countries over the 2013 – 2021 period, based on set of selected indicators. The result show heterogeneity within the group, but with a common downward trend, and the significant influence of technological and sociocultural indicators on cash usage.

Suggested Citation

  • Martina Mate & Zvonimir Brizar, 2024. "Trends And Determinants Of Cash Usage In Non-Eurozone Eu Member States," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 33(1), pages 25-40, june.
    • Handle: RePEc:avo:emipdu:v:33:y:2024:i:1:p:25-40
    DOI: 10.17818/EMIP/2024/1.2
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Non-euro zone member states; payment habits; demand for cash; determinants of cash usage;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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