The causality among e-money, manufacturing, services and money supply: an empirical evidence of ASEAN countries
DOI:
https://doi.org/10.22437/ppd.v8i3.9518Keywords:
E-money, Manufacturing sector, Money supply, Service sectorAbstract
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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Copyright (c) 2020 Heryadi Heryadi, Azwardi Azwardi, Sukanto Sukanto
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