Assessing the relationship between non-cash payments and various economic indicators

Kredina A. Nurymova S. Satybaldin A. Kireyeva A.
10 February 2022 LLC CPC Business Perspectives

Banks and Bank Systems
2022 #17 Issue 1 67 - 79 pp.

This study is aimed at evaluating the correlation between determinants of non-cash payments (ATMs, number of bank branches, and number of mobile phone users) and various economic indicators (broad money, inflation, consumer prices) as well as further studying which of the factors and to what extent influence each other in different periods. Non-cash payments are provided by ATMs. The sample considers panel data on nine developing countries. The data for calculation were taken from The World Bank, for Kazakhstan - from the Bureau of National Statistics of the Republic of Kazakhstan. The data collected during the study were analyzed using the SPSS software. Spearmans correlation analysis was used. The results obtained in the empirical study briefly showed that the alternative hypothesis is confirmed for the period 2004-2009 (that the existing relationships are significant), at the same time, the null hypothesis was confirmed in terms of the level of significance for the period 2019-2020. Accordingly, this study showed that modern developments differ from those provided earlier and financial technology transformation is still in the process. The results of this study also indicated the need for further studies of non-traditional measures of financial development, which can lead to sustainable economic growth in the post-crisis period.

ATMs , Bank , Bank services , Financial technologies , Non-cash payment

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Finance and Accounting Department, University of International Business, Kazakhstan
Economics Department, Al-Farabi Kazakh National University, Kazakhstan
Institute of Economics MES RK, Kazakhstan
Institute of Economics MES RK, University of International Business, Kazakhstan

Finance and Accounting Department
Economics Department
Institute of Economics MES RK
Institute of Economics MES RK

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