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Los Angeles, CA
March 31, 2009 to April 2, 2009
ISBN: 978-0-7695-3507-4
pp: 126-130
ABSTRACT
From 1990’s, e-money has developed very quickly. Many economists proposed their view by theory. They think that e-money, designed to substitute central bank currency, could take impact on money supply, especially on the narrowly defined stock of money, M1.In modern economy, money has played a very important role, so e-money has a big potential to affect GDP.   The paper discusses how e-money has impact on M1 and GDP based on the data from 1990’s to now. In the analysis, we can get following conclusions: (1) as a payment media, the development of e-money has increased rapidly, we can see e-money has very strong potential in economy. (2) Now, the volume of e-money is still very little. And e-money has little impact on M1 and GDP. (3) In a short time, e-money can hardly replace currency in circulation, and they will exist simultaneously for a long time.(4) Now it is unnecessary to carry out any policy to restrict the development of e-money. Such as e-money issue mechanism, but it is necessary to build an e-money balance report mechanism.
INDEX TERMS
e-money, development, strategy
CITATION
Zhou Hong, "The Impact of E-money on the Economy", CSIE, 2009, 2009 WRI World Congress on Computer Science and Information Engineering, CSIE, 2009 WRI World Congress on Computer Science and Information Engineering, CSIE 2009, pp. 126-130, doi:10.1109/CSIE.2009.194
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