21 Countries | Argentina; Australia; Brazil; Canada; China; France; Germany; India; Indonesia; Italy; Japan; Korea; Mexico; Russia; Saudi Arabia; South Africa; Turkey; United Kingdom; United States; European Union; Vietnam | ||
Variables | Descriptions | Unit of measurement | Source |
Dependent variable | |||
GDP | GDP Real GDP growth rate | Annual % | WDI |
Independent variable-Cashless payment indicators | |||
DEBIT | Debit card transaction value | Logarithm of total value | BIS |
CREDIT | Credit card transaction value | Logarithm of total value | BIS |
EMONEY | E-money transaction value | Logarithm of total value | BIS |
CHECK | Check transaction value | Logarithm of total value | BIS |
Control variables | |||
INF | Inflation rate | Annual % | WDI |
POP | Population growth rate | Annual % | WDI |
SECON | Secondary school enrollment | % | WDI |
TRADE | Trade openness | GDP | WDI |
Additional variables for durability test | |||
FDI | FDI net inflow | % GDP | WDI |
FD | FD Domestic credit to private sector | % GDP | WDI |
GCF | GCF Gross capital formation | % GDP | WDI |
ICT | ICT Broadband subscriptions | Per 100 inhabitants | WDI |
INS | INS Institutional quality | Scaled from 0 to 100 | WGI |