Are digital payments driven by wealth inequality? Evidence from analysis of the unified payments interface (UPI) adoption in India

IF 8.7 2区经济学 Q1 ECONOMICS

Economic Analysis and Policy Pub Date : 2025-07-10 DOI:10.1016/j.eap.2025.07.014

Rajesh Gupta , Arjun Anand , Tanya Gupta

引用次数: 0

Abstract

Though the manifestation of wealth endowment in digital payments technology adoption ranges can have far-reaching socio-economic implications, it remains an understudied area. The unified payment interface (UPI), a dominant digital payment system in India, is examined in this study for the influence of wealth endowment on digital payments executed via UPI in India. Utilizing the Instrumental Variable Quantile Regression (IVQR) method alongside the smooth IVQR method on district-level data, this study addresses endogeneity and heterogeneous treatment effects. The results indicate that income inequality impacts digital payments with a pronounced effect in regions with higher UPI adoption rates.

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数字支付是由财富不平等驱动的吗？来自印度统一支付接口（UPI）采用分析的证据

尽管财富禀赋在数字支付技术采用范围中的表现可能具有深远的社会经济影响，但它仍然是一个未被充分研究的领域。统一支付接口（UPI）是印度占主导地位的数字支付系统，本研究考察了财富禀赋对印度通过UPI执行的数字支付的影响。本研究利用工具变量分位数回归（IVQR）方法和平滑IVQR方法对地区数据进行分析，分析了治疗效果的内生性和异质性。结果表明，收入不平等对数字支付产生了影响，在UPI采用率较高的地区产生了显著影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Economic Analysis and Policy ECONOMICS-

CiteScore

9.80

自引率

9.20%

发文量

231

审稿时长

93 days

期刊介绍： Economic Analysis and Policy (established 1970) publishes articles from all branches of economics with a particular focus on research, theoretical and applied, which has strong policy relevance. The journal also publishes survey articles and empirical replications on key policy issues. Authors are expected to highlight the main insights in a non-technical introduction and in the conclusion.