چکیده:
payment systems play a major part in the conduct of a country's monetary policy, financial sector and economic development. The use of technology in mature payment systems has also gained great importance. Electronic banking, mobile phones, smart cards and related technologies has introduced the new instruments for payment. So payment could be in different forms, from the most initial ways to the most advanced electronic one. In this paper, we have studied the economic effects of a new technology of payments in banking industry by using Iranian bank level panel data. Electronic payment in banking industry leads to decrease average costs, increase the economic of scale in the attraction deposits more than in the giving loans and finally will affect input demand asymmetric. By using this new technology, the ratio of labour and both materials and physical capital have been decreased
خلاصه ماشینی:
"In this paper, we have investigated the effects of new technology in payment services of banks on the average costs, scale of properties and input demand in the production of deposits and loans.
(1971, 1973) for the first time used translog cost function for investigating the effects of technical changes in payment services on economic indices.
Lindquist (2001) studied the effects of new technology in payment services on banks’ intermediation within a multiple-output framework using Norwegian bank level panel data.
Humphrey, Willesson and Lindblom (2005) used an "output characteristics" cost function to identify payment sources of technical change in European banking and estimate associated benefits.
For studying the effects of technical change in payment services on the economic indices, we can use translog cost function as a quadratic approach of a continuous function which satisfied linear homogeneity in price.
(1) Inputs Labour Physical capital Materials Funds Total operating costs plus interest expenses of bank The bank specific price of inputs Volume of deposits in bank Volume of loans in bank Share of electronic payments in total non-cash payments Deterministic trend variable to illustrate the part of changes isn’t related to technical change from paper-based to electronic payments.
The results show that Mechanism change toward electronic payment in banking industry leads to decrease average costs, increase the economic of scale in the attraction deposits more than in the giving loans and finally to affect input demand asymmetric."