Transformation of payment systems: The case of European Union enlargement

Francisco J. Callado-Muñoz, Jana Hromcová, Natalia Utrero-González

    Research output: Contribution to journalArticleResearchpeer-review

    2 Citations (Scopus)


    In this article, we analyse how the accession to an economic and monetary union and the influence of new institutions may shape consumers' payment decisions in newly acceded countries. Our analysis focuses on the 2004 European Union (EU) enlargement process. Results confirm the prediction of theoretical models about the relevance of economic development, institutional environment and payment infrastructure in retail payment system decisions. © 2012 Copyright Taylor and Francis Group, LLC.
    Original languageEnglish
    Pages (from-to)1787-1791
    JournalApplied Economics Letters
    Issue number18
    Publication statusPublished - 1 Dec 2012


    • cash
    • European Union enlargement
    • payments


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