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E-payment & economic growth in Malaysia

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Date
2020
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Abstract
In recent years, the payments and settlements have been settled through the means of electronic and online transactions all around the world particularly in developed and developing countries such as Malaysia. Together with the induction of Financial Sector Masterplan 2011-2020 by Bank Negara Malaysia, it speeds up the assimilation of electronic payments through the banks, business entities, organizations, and individuals. Along with the features of quick payment, ease of use, and less cost, e-payment is gradually accepted and implemented in the majority of the transactions in Malaysia. The study seeks to verify the impact of electronic payments on Malaysia's economic growth. Economic growth is measured by a proxy the real Gross Domestic Product. Meanwhile, electronic payment parameters consist of cheque clearing, card payments, e-money, RENTAS, Interbank GIRO, FPX, and direct debit. Data for electronic payments and real GDP are collected from the period of 2008 to 2020. The analysis was done through the use of Auto-Regressive Distributed Lag (ARDL) co-integration approach and ARDL Bounds test. Finally, from the study conducted, it revealed that electronic payments do influence economic growth significantly in the short run and the long run.
Keywords
Electronic payment , E-payment , Economic growth , Malaysia , Project paper (MSc)
Citation
Nik Hziman, N. N. F. (2020). E-payment & economic growth in Malaysia (Master dissertation). INCEIF, Kuala Lumpur. Retrieved from https://ikr.inceif.org/handle/INCEIF/4001
Publisher
INCEIF

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