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Using Fixed Effects with Driscoll-Kraay Panel Corrected Estimators, it finds digital payments raise economic growth. Interaction effects with other variables do not promote growth. To capture country differences and enhance robustness, countries are classified into GDP per capita quantiles using BPQR, which confirms positive links involving payments, institutional quality, and consumption expenditure while credit relates negatively. 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The mediating role of institutional quality, consumption expenditure, and bank credit  \nBiswajit Patra & Narayan Sethi  \nTo cite this article: Biswajit Patra & Narayan Sethi (2024) Does digital payment induce economic growth in emerging economies? The mediating role of institutional quality, consumption expenditure, and bank credit, Information Technology for Development, 30: 1, 57-75, DOI: 10. 1080/02681102 .2023.2244465  \nTo link to this article: [https://doi.org/10.1080/02681](https://doi.org/10.1080/02681)102.2023.2244465  \n Published online: 01 Sep 2023.  \n\n|  Submit your article to this journal  |  |\n| --- | --- |\n| | Article views: 964 |\n| | View related articles  |\n|  View Crossmark data |  |\n|  Citing articles: 21 View citing articles  |  |\n\nFull Terms & Conditions of access and use can be found at [https://www.tandfonline.com/action/journalInformation?journalCode=titd20](https://www.tandfonline.com/action/journalInformation?journalCode=titd20)  \nDoes digital payment induce economic growth in emerging economies? The mediating role of institutional quality, consumption expenditure, and bank credit  \nBiswajit Patra  a and Narayan Sethib  \naDepartment of Economic Sciences, Indian Institute of Science Education and Research (IISER) Bhopal, Bhopal, India; bDepartment of Humanities and Social Sciences, National Institute of Technology Rourkela, Rourkela, India  \nABSTRACT  \nThis paper analyzes the direct and interactive effect of digital payments through institutional quality, consumption expenditure, and bank crediton economic growth for 25-member countries of the Committee on Payments and Market Infrastructures (CPMI) for 2012–2020 . Using the Fixed Effect with Driscoll-Kraay Panel Corrected Estimators, it finds that a rise in digital payments positively impacts economic growth. The interaction effect of digital payments with other variables does not promote economic growth. To address differences among the selected countries and to have a robust analysis, the paper classified the selected countries into quantiles based on the GDP per capita level using the Bootstrapped Panel-Quantile Regression (BPQR) method. The BPQR confirms the positive relationship among digital payments, institutional quality, and consumption expenditure with economic growth, whereas credit impacts it negatively. Control variables, such as  \ninflation, exchange rate, health, and unemployment, behave as per economic theories related to economic growth.  \nKEYWORDS  \nDigital payment; economic growth; institutional quality; consumption expenditure; bank credit  \nSubject classification codes: G21; O43; E21; E51  \n1. Introduction  \nThe world is experiencing developments in digital space. There are many recent trends in the digital space, such as automation, digital banking, artificial intelligence, 5G, and mobile payment systems. The integrations ofthis bring the digital economy. The financial markets are the great beneficiaries of this digital evolution. The world has experienced a continuous rise in the use of digital technology in the payment systems of the financial markets (Hartmann, 2006; Rahman et al., 2020) . There is a continuous thrust by the governments of many parts of the world to enhance the cashless economy from the use of physical cash one. As per the latest data published by the Bank for International Settlements (BIS), Sweden has the lowest banknotes and coins in circulation (around 1%) among the member countries of the Committee on Payments and Market Infrastructures (CPMI) as a percentage of their gross domestic product (CPMI Brief No 1, 2023) . Many other countries, such as Norway, Canada, Australia, France, Finland, Denmark, the US, and the UK, are","cbCaij2xItBh9TpJ","https://ap.wps.com/l/cbCaij2xItBh9TpJ","pdf",2194700,"English","# Abstract\n# Keywords\n# 1. Introduction","[{\"question\":\"What is the main question addressed in the paper?\",\"answer\":\"Whether digital payments induce economic growth in emerging economies, and how institutional quality, consumption expenditure, and bank credit mediate that relationship.\"},{\"question\":\"What does the Fixed Effects with Driscoll-Kraay Panel Corrected Estimators show?\",\"answer\":\"A rise in digital payments positively impacts economic growth, while the interaction effects with other variables do not promote growth.\"},{\"question\":\"How does the BPQR method contribute to the analysis?\",\"answer\":\"It classifies countries into GDP per capita quantiles and confirms the positive relationships among digital payments, institutional quality, and consumption expenditure, while bank credit impacts growth negatively.\"}]","Does digital payment induce economic growth in emerging economies? - The mediating role of institutional quality, consumption expenditure, and bank credit - paper analysis | PDF"]