The causality among e-money, manufacturing, services and money supply: an empirical evidence of ASEAN countries | Zendy

Heryadi Heryadi | Zendy; Azwardi Azwardi | Zendy; Sukanto Sukanto | Zendy

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The causality among e-money, manufacturing, services and money supply: an empirical evidence of ASEAN countries

Author(s) -

Heryadi Heryadi,

Azwardi Azwardi,

Sukanto Sukanto

Publication year - 2020

Publication title -

jurnal perspektif pembiayaan dan pembangunan daerah

Language(s) - English

Resource type - Journals

eISSN - 2355-8520

pISSN - 2338-4603

DOI - 10.22437/ppd.v8i3.9518

Subject(s) - causality (physics) , money supply , economics , monetary economics , demand deposit , endogenous money , broad money , tertiary sector of the economy , service (business) , panel data , monetary policy , econometrics , economy , quantum mechanics , physics

The economic transition happened in ASEAN countries caused the increased growth of e-money use. This study was established to discover the causal relation between the growth in manufacturing and service sector and the e-money usage through causality panel approach. Furthermore, this study also focused on finding the causality among the economic growth in manufacturing and service sector, e-money and money supply during 2008-2018 period in the region. The result of the study showed that: (1) there was a one-way causality between the growth in service sector and e-money use, (2) there was no causality between e-money use and the growth in manufacturing sector (3) the growth of money supply provided causal effect on the increase of e-money use.

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