Payment systems efficiency , policy approaches , and the role of the central bank

  title={Payment systems efficiency , policy approaches , and the role of the central bank},
  author={Tanai Khiaonarong},
Central bank spending on the operation of inter-bank funds transfer systems may range from below one million to nearly a billion US dollars annually. This paper examines how such costs are incurred and recovered to pursue payment systems efficiency in different countries and under alternative policy approaches. The key findings are as follows. First, strong scale economy effects were found, with unit costs comparatively lower in retail than large-value payment services, while subsidisation was… CONTINUE READING


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