Comparative Economic Studies

, Volume 43, Issue 1, pp 101–118 | Cite as

E-money in Transitional Economies

  • Aleksandar Stojanovic


This paper analyses opportunities and threats for Countries in Transition (CIT), and for other developing countries, brought about by the electronic money (e-money) and other electronic retail payments systems developments. The strengths and weaknesses of CIT financial systems, in respect of the new payment technologies, are also assessed. The study looks at retail payment systems and importance of cash in CIT, and identifies general business and public policy implications of e-money. It is argued that the new payment instruments, and e-money in particular, can contribute to cash substitution and development of more efficient payment and banking systems practice in CIT, and indeed other developing countries, and inspire competition among financial intermediaries.


electronic money payment systems transitional economies 

JEL Classifications

G29 O39 P29 


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Copyright information

© Palgrave Macmillan Ltd 2001

Authors and Affiliations

  • Aleksandar Stojanovic
    • 1
  1. 1.City University/Bradley Financial

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