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Autor:innen: 
Erscheinungsjahr: 
2005
Schriftenreihe/Nr.: 
Bank of Finland Research Discussion Papers No. 16/2005
Verlag: 
Bank of Finland, Helsinki
Zusammenfassung: 
The developed world exhibits substantial but poorly understood differences in the efficiency and quality of low-value payment services.This paper compares payments arrangements in the UK, Norway, Sweden, and Finland, and discusses the impact of network effects on incentives to adopt new payments technology.A model is presented, in which private benefits for investment in shared inter-bank payments infrastructure are weak.In contrast, due to 'account externalities', there are strong incentives for investment in intra-bank payment systems.These two features, distinguishing bank payments from other network industries, can help explain some of the observed cross country differences in payments arrangements.
Schlagwörter: 
network effects
incentives
payment technology
externalities
JEL: 
G21
L14
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
952-462-223-8
Dokumentart: 
Working Paper

Datei(en):
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