IMF Working Papers

Measurement and Use of Cash by Half the World’s Population

ByTanai Khiaonarong, David Humphrey

March 17, 2023

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Tanai Khiaonarong, and David Humphrey. "Measurement and Use of Cash by Half the World’s Population", IMF Working Papers 2023, 062 (2023), accessed 12/5/2025, https://doi.org/10.5089/9798400237799.001

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Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

The use of cash for payments is not well measured. We view the value of cash withdrawn from ATMs, or as a share of all payments, as a more accurate and timely measure of cash use compared to the standard measure of currency in circulation, or as a ratio to GDP. These two measures are compared for 14 advanced and emerging market economies. When aggregated, the trend in cash use for payments is currently falling for half the world’s population. Such a measure can help inform policy decisions regarding CBDC and regulatory decisions concerning access to and use of cash.

Subject: Currencies, Financial institutions, Financial markets, Foreign exchange, Monetary base, Money, Payment systems, Purchasing power parity, Stocks

Keywords: access to cash, aggregate Currency value, ATM cash, Cash, cash use, central bank digital currency, Currencies, Monetary base, Payment systems, payments, Purchasing power parity, Stocks, use of cash, value of cash

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