Has Demonetisation Pushed Digitalisation in India? Some Counter Evidences
Authors
-
Research Scholar, School of Economics, University of Hyderabad, Telengana – 500046 ,IN
M. Nithin -
Research Scholar, School of Economics, University of Hyderabad, Telengana – 500046 ,INP. Jijin
-
Research Scholar, Department of Humanities and Sciences, National Institute of Technology – Goa (NIT), Farmagudi, Ponda – 403401, Goa ,INP. Baiju
DOI:
https://doi.org/10.18311/jbt/2018/21170Keywords:
Demonetisation, Digitalisation, Intervention Analysis, Pulse-Function, Step-FunctionAbstract
India witnessed demonetisation in November 2016, when high value denomination notes of Rs. 500 and Rs. 1000 were withdrawn at a single stroke which extinguished about 86 percent of the total currency value in circulation. Demonetisation which aimed to curb black money, terror funding and counterfeiting at the first place, was later projected as the government's push for digitalisation drive. In this paper, we analyse the effect of demonetisation on digital payments viz. debit card, point of sale transactions, and mobile transactions using an intervention analysis of time series. The findings of the Study negate the impact of demonetisation on digitalisation of the Indian economy.
Downloads
Metrics
Downloads
Published
How to Cite
Issue
Section
License
All the articles published in JBT are distributed under a creative commons license. The journal allows the author(s) to hold the copyright of their work (all usages allowed except for commercial purpose).
Accepted 2018-05-15
Published 2018-08-02
References
Sood and Baruah. The new moral economy. Economic & Political Weekly, 2017; 52(1): 31.
Box GE, Tiao GC. Intervention analysis with applications to economic and environmental problems. Journal of the American Statistical Association; 1975; 70(349):70–9. https://doi.org/10.1080/01621459.1975.10480264
Montgomery DC, Weatherby G. Modeling and forecasting time series using transfer function and intervention methods. AIIE Transactions. 1980;12(4):289-307.
Huitema BE, Mckean JW. Design specification issues in time-series intervention models. Educational and Psychological Measurement. 2000; 60(1), 38-58.
Linden A, Adams JL. Applying a propensity score-based weighting model to interrupted time series data: improving causal inference in programme evaluation. Journal of evaluation in clinical practice, 2011; 17(6): 1231-8.
Simonton DK. Creative productivity, age, and stress: A biographical time-series analysis of 10 classical composers. Journal of Personality and Social Psychology. 1977; 35(11):791-804.
Simonton DK. Eminence, creativity, and geographical marginality: A recursive structural equation model. Journal of Personality and Social Psychology. 1977: 35(11), 805-16.
RBI. Macroeconomic Impact of demonetisation-A preliminary assessment. Occasional Publication; 2017a.
Paramahamsa R. Demonetisation: To deify or demonize? Economic Survey; 2017. p. 17.
Kawadia G, Gupta, N. Demonetisation: A step for revitalizing Indian economy. Jharkhand Journal of Development and Management Studies. 2017; 15(2):7297–309.
Bhattacharya K, Mitra S, Pal S, Saha B. Reviving the informal sector from the throes of demonetisation. South Asia@ LSE; 2017.
Agyeman CM, Amoah-Binfoh, K. The Aftermath of a Demonetisation Exercise: A Comparative Evaluation of the Retail Sector, International Journal of Advanced Research in Management and Social Sciences. 2017; 6 (7).
Ghosh AN. Impact of demonetisation on India: A macrotheoretic analysis. Trade and Development Review. 2017; 9(1); 57–73.
Ali SMS, Akhtar MW, Safiuddin SK. Digital Payments for Rural India–Challenges and Opportunities. International Journal of Applied Economics. 2017; 7(1):31–8.
Masiero S. New routes to cashlessness? ICTs, demonetisation, and the Indian informal economy, Development Studies Association Conference: Sustainability interrogated: societies, growth, and social justice (DSA 2017); Bradford. 2017; Sep 6–8;
Gaur AD, Padiya J. From Demonetisation to Digitization of Indian Economy: The Road Ahead, Proceedings of International Conference on Strategies in Volatile and Uncertain Environment for Emerging Markets, Indian Institute of Technology Delhi, New Delhi; 2017. p. 598–607.
Kawadia G, Gupta N. Demonetisation: A Step for Revitalizing Indian Economy, Jharkhand Journal of Development and Management Studies. 2017; 15(2):7297– 309.
Balaji KC, Balaji K. A study on demonetization and its impact on cashless transactions. International Journal of Advanced Scientific Research and Development; 2017. p. 58–64.
RBI. Impact of Demonetisation on the Financial Sector, RBI Bulletin; 2017b.
Deshpande R. India's demonetisation: Modi's ‘nudge' to change economic and social behaviour. Asian Affairs. 2017; 48(2):222–35. https://doi.org/10.1080/03068374.2017.1313 592
Jayakumar T. Behavioural economics perspective of ‘demonetisation'. Economic and Political Weekly. 2017; 52(41):41.
Swaminathan S. Technology enabled banking facilities and satisfaction-customers' view. Namex International Journal of Management Research; 2016. p. 139–43.
Varsha R, Thulasiram M. Acceptance of e-wallet services: A study of consumer behavior. International Journal of Innovative Research in Management Studies. 2016; 1(4):2455–7188.
Banaji S. India: digitising an unequal world. Parenting for a Digital Future. LSE Blog; 2017.
Mridha MF, Nur K, Saha AK, Adnan MA. A new approach to enhance internet banking security. International Journal of Computer Applications. 2017; 160(8).
Singh P, Sawhney RS, Kahlon KS. Sentiment analysis of demonetization of 500 & 1000 rupee banknotes by Indian government. ICT Express; 2017. https://doi.org/10.1016/j.icte.2017.03.001
Manazir SH. Union Budget 2017-18: leading India towards a digital economy. South Asia@ LSE; 2017.
Rajakumar JD, Shetty SL. Demonetisation: 1978, the Present and the Aftermath. Economic & Political Weekly. 2016; 51(48):13–17.
Leong C, Tan B, Xiao X, Tan FTC, Sun Y. Nurturing a FinTech ecosystem: The case of a youth microloan startup in China. International Journal of Information Management. 2017; 37(2), 92-97. https://doi.org/10.1016/j.ijinfomgt.2016.11.006
Linden A. Conducting interrupted time-series analysis for single-and multiple-group comparisons. Stata Journal. 2015; 15(2):480–500.
Madureira A. Factors that hinder the success of SIMbased mobile NFC service deployments. Telematics and Informatics. 2017; 34(1):133–50. https://doi.org/10.1016/j.tele.2016.05.003
Rani G. Effects of Demonetization on Retail Outlets. International Journal of Applied Research. 2016; 2(12):400–1.
Wei WW. Time series analysis: univariate and multivariate methods. Pearson Addison Wesley; 2006.
