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Cashless society: Is there a relationship between innovation and cash circulation in economy?
KTH, School of Industrial Engineering and Management (ITM).
KTH, School of Industrial Engineering and Management (ITM).
2019 (English)Independent thesis Advanced level (degree of Master (One Year)), 10 credits / 15 HE creditsStudent thesisAlternative title
Kontantlöst samhälle: Finns det ett samband mellan innovation och hur mycket kontanter cirkulerar i ett samhälle? (Swedish)
Abstract [en]

Around the globe, countries move away from banknotes and coins in the favor of digitized payments. A number of findings from academic research conclude various benefits associated with decreased cash usage, such as enhanced economic development, less costs for governments and banks, financial transparency as well as lower economic-related crime rates. In a light of various benefits moving towards cashless payments, it is hypothesized that there also could be a relationship between how innovative a country is and how much cash circulates in economy. The relationship could be both-sided like less cash circulation can trigger innovation and, at the same time, adoption of cashless payments could be driven by how innovative a country is. To be able to investigate a potential correlation, a correlation analysis is conducted between the two variables: an innovation level of a country and cash circulation in econom. The Global Innovation Index score will be used to summarize various factors that provide an overview of national innovation performance, and percentage of Gross Domestic Product (GDP) will be used for currency in circulation. According to the findings, the hypothesis that there is a correlation between cash circulation and innovation performance in a country could not be rejected with a 5% significance level. 

Abstract [sv]

Runt om i världen öppnar länder upp för att gå från kontanta betalningsmedel mot digitala betallösningar. Enligt tidigare forskning, leder minskad kontanthantering till flertalet fördelar såsom kraftigare ekonomisk tillväxt, ökad transparens, minskade kostnader samt minskad ekonomiskt brottslighet. De fördelar som kontantlösa betalningar skapar kan vara kopplade till hur innovativt ett land är och hur mycket kontanta medel som cirkulerar i ett lands ekonomi. Ett potentiellt samband mellan mängd kontanter som cirkulerar i ett samhälle och innovation i ett land kan vara tvåsidigt, till exempel att minskade mängder kontanter i ekonomin kan skapa innovation eller så kan kontantlösa betalningar skapas av hög innovationsnivån i ett land. För att kunna undersöka ett potentiellt samband, utförs en korrelationsanalys mellan de två variablerna: nationell innovationsnivå och mängd kontanter i cirkulation i ekonomin. Global Innovation Index används för att sammanfatta olika faktorer som ger en översikt över den nationella innovationsnivå per land och en procentandel av bruttonationalprodukten (BNP) kommer att användas för mängd valuta i omlopp. Enligt framkomna resultat från korrelationsanalysen kunde hypotesen om att det finns ett samband mellan kassaflöde och innovationsnivå i ett land inte förkastas.

Place, publisher, year, edition, pages
2019.
Series
TRITA-ITM-EX ; 2019:214
Keywords [en]
Cashless society, cashless, innovation, cash circulation, currency in circulation, Global Innovation Index, money, digital payments, research and development
National Category
Other Engineering and Technologies
Identifiers
URN: urn:nbn:se:kth:diva-254271OAI: oai:DiVA.org:kth-254271DiVA, id: diva2:1330104
Presentation
2019-05-28, 11:20 (English)
Supervisors
Examiners
Available from: 2019-11-12 Created: 2019-06-25 Last updated: 2019-11-12Bibliographically approved

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