Measuring Central Bank’s Policy Effectiveness in Affecting Intention to Use New Payment Platform During The COVID-19 Pandemic

International Journal of Economics and Management Pub Date : 2022-12-27 DOI:10.47836/ijeam.16.3.04

Wishnu. Badrawani

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引用次数: 0

Abstract

This study evaluates the effectiveness of central bank policy in influencing intention to use a new payment platform, QRIS (Quick Response code Indonesian Standard). The evaluation is hindered by the contemporaneous emergence of the COVID-19 pandemic, which acts as a confounding factor in adopting the new payment instrument. To disentangle the effect of those variables, we collected data from 617 respondents consisting of customers and merchants, employed a structural equation model with SmartPLS, asses fourteen hypotheses with demographic factors included as moderating factors. The result of the study successfully disentangles the policy impact from the pandemic impact and separates the risk of a pandemic from common risks. We verify that the pandemic and government intervention had significant direct and indirect effects on the intention to use QRIS, with the habit being the most influential component, outperforming other technology adoption determinants. This study, therefore, contributes to the advancement of the literature on the topic of technology adoption and government intervention and suggests that this measuring approach can be used as a complementary instrument to assess the impact of central bank policy on the public.

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衡量央行在COVID-19大流行期间影响使用新支付平台意愿的政策有效性

本研究评估了央行政策在影响使用新支付平台QRIS(印尼标准快速响应码)意愿方面的有效性。同时出现的新冠肺炎大流行阻碍了评估，这是采用新支付工具的一个混杂因素。为了理清这些变量的影响，我们收集了617名由顾客和商家组成的受访者的数据，采用了SmartPLS的结构方程模型，评估了14个假设，其中包括人口因素作为调节因素。研究结果成功地将政策影响与大流行影响区分开来，并将大流行风险与常见风险区分开来。我们证实，流行病和政府干预对使用QRIS的意愿有显著的直接和间接影响，习惯是最具影响力的组成部分，优于其他技术采用决定因素。因此，本研究有助于推进关于技术采用和政府干预这一主题的文献，并建议这种测量方法可以用作评估中央银行政策对公众影响的补充工具。

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

International Journal of Economics and Management Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)

CiteScore

1.80

自引率

0.00%

发文量

期刊介绍： The journal focuses on economics and management issues. The main subjects for economics cover national macroeconomic issues, international economic issues, interactions of national and regional economies, microeconomics and macroeconomics policies. The journal also considers thought-leading substantive research in the finance discipline. The main subjects for management include management decisions, Small Medium Enterprises (SME) practices, corporate social policies, digital marketing strategies and strategic management. The journal emphasises empirical studies with practical applications; examinations of theoretical and methodological developments. The journal is committed to publishing the high quality articles from economics and management perspectives. It is a triannual journal published in April, August and December and all articles submitted are in English. IJEM follows a double-blind peer-review process, whereby authors do not know reviewers and vice versa. Peer review is fundamental to the scientific publication process and the dissemination of sound science.