Lifestyles of today’s civilizations are mostly dominated by technology usages no matter where they reside in the globe. As a result, human-services are mostly carried out in competitive manner where Banking-services are not different. It is carried-out with business mentality that has presented digital-banking, i.e. Bank-led and Mobile-led digitals in today’s human society. However, COVID-19 has interrupted the entire human-system. It puts strains on markets, governments, businesses and individuals. But COVID-19 has escalated usages of digital-banking, a product in bank-sector, country-wise such as Bangladesh. This study undertakes interpreting the episode COVID-19 vs. Digital-banking-usages under Demand - Supply Model in market economics. In digital-services-market of world-economy country-wise, customers are identified in two categories and their efficiency-costs or prices are measured and utilized for analysis purposes in this study. The findings show that digital-banking customers where adverse-user faces lower efficiency-price than equilibrium-price and the advantageous-user faces least expected cost. Thus the progression of usages digital-banking is an outcome of market-economics, not something else. Despites the fact that the study uses a basic Microeconomics tools such as Consumer Choice Theory in completion the analysis, it is one of a kind in literature based on the approaches utilized interpreting customers behaviors in terms of economics. Findings of this study can be instrumental to digital-banking service-providers in market economy as well as to readers, especially, to classroom-students who are enthusiastic learning how to use tools of economics in application.
| Published in | Journal of Business and Economic Development (Volume 6, Issue 2) |
| DOI | 10.11648/j.jbed.20210602.12 |
| Page(s) | 65-72 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2024. Published by Science Publishing Group |
Digital-Banking Usages, Corona-virus Consequences, Market Economics and Market Supply-demand
| [1] | Bangladesh Bank (2020), Financial Inclusion and Digital Financial Statistics, e-Banking and e-commerce Statistics Unit, Statistics Department, https://www.bb.org.bd/econdata/index.php. |
| [2] | BTRC (2020), The Progression of Internet Users in Bangladesh, http://www.btrc.gov.bd/telco/internet?page=9. |
| [3] | Hasan O. Muhammad (2020), Expanding digital financial inclusion. The Financial Express, Friday, 16 October 2020. |
| [4] | Mora, A. G. (2020), Patterns—and some implications—of Covid-19 financial sector policy interventions, Retrieved from World Bank Blogs. |
| [5] | Nesa Jebun (2020), COVID-19 brings blessing for digital transformation, The Business Standard, August 19, 2020, https://tbsnews.net/economy/banking/covid-19-brings-blessings- digital-transformation-121708. |
| [6] | Ozili, P. K. (2019). 100 Quotes from the Global Financial Crisis: Lessons for the future. Available at SSRN 3500921. |
| [7] | Rahman, Akim (2019), Microeconomics Basics – New Way Learning Microeconomics in the 21st Century Era, ISBN: 978-0-9557163-0-0, Academic Textbook, Print Your Book Academic Publishing Company, Dhaka, Bangladesh. |
| [8] | Rahman, Akim (2020), bKash vs. Bank-led Option: Factors Influencing Customer’s Choices–Does it Warrant Voluntary Insurance-policy for Rapid Growth Digital-banking in Bangladesh- economy? The Journal of Banking and Financial Economics, Vol. 1 (13), pp. 44-62, University of Warsaw, Poland. |
| [9] | Rahman, Akim (2018), Voluntary Insurance for Ensuring Risk-free On-the-Go Banking Services in Market Competition for Bangladesh, The Journal of Asian Finance, Economics and Business, Vol. 5, No. 1, ISSN: 2288-4637, Boston University (USA). |
| [10] | Samuelson, Paul A. (2009), Microeconomics, 9th Edition, Publisher: Tata McGraw-Hill Education, Published Date 2020. |
| [11] | Sarker, B., P. Podder and R. Alam (2020), Progression of Internet Banking System in Bangladesh and its Challenges, International Journal of Computer Applications (0975–8887) Volume 177 – No. 29, January 2020. |
| [12] | The Daily Star (2020), Covid-19: Bangladesh 15th worst-affected country as total cases near 2.5 lakh, August 06 https://www.thedailystar.net/coronavirus-deadly-new-threat/news/covid-19- total-cases-almost-25-lakh-1940649. |
| [13] | The Financial Express (2020), COVID proves a boon to digital transactions, Source: https://thefinancialexpress.com.bd/trade/covid-proves-a-boon-to-digital-transactions1598671912. |
| [14] | The Business Standard (2020), COVID-19 and its impacts on Bangladesh Economy, https://www.tbsnews.net/thoughts/covid-19-and-its-impact-bangladesh-economy-69541. |
| [15] | World Bank (2017), The Global Findex Database-2017, https://globalfindex.worldbank.org. |
| [16] | WHO (2020), COVID-19 Pandemic, https://www.who.int/emergencies/diseases/novel-coronavirus-2019? |
APA Style
Akim Mahbubur Rahman, Saadi Islam. (2021). COVID-19 Brings Blessing for Digital-Banking in World-Economy Country-Wise: An Analysis Under Demand-Supply Model of Market Economics. Journal of Business and Economic Development, 6(2), 65-72. https://doi.org/10.11648/j.jbed.20210602.12
ACS Style
Akim Mahbubur Rahman; Saadi Islam. COVID-19 Brings Blessing for Digital-Banking in World-Economy Country-Wise: An Analysis Under Demand-Supply Model of Market Economics. J. Bus. Econ. Dev. 2021, 6(2), 65-72. doi: 10.11648/j.jbed.20210602.12
AMA Style
Akim Mahbubur Rahman, Saadi Islam. COVID-19 Brings Blessing for Digital-Banking in World-Economy Country-Wise: An Analysis Under Demand-Supply Model of Market Economics. J Bus Econ Dev. 2021;6(2):65-72. doi: 10.11648/j.jbed.20210602.12
Share This Article
Twitter
Linked In
Facebook
Copy
Download@article{10.11648/j.jbed.20210602.12,
author = {Akim Mahbubur Rahman and Saadi Islam},
title = {COVID-19 Brings Blessing for Digital-Banking in World-Economy Country-Wise: An Analysis Under Demand-Supply Model of Market Economics},
journal = {Journal of Business and Economic Development},
volume = {6},
number = {2},
pages = {65-72},
doi = {10.11648/j.jbed.20210602.12},
url = {https://doi.org/10.11648/j.jbed.20210602.12},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jbed.20210602.12},
abstract = {Lifestyles of today’s civilizations are mostly dominated by technology usages no matter where they reside in the globe. As a result, human-services are mostly carried out in competitive manner where Banking-services are not different. It is carried-out with business mentality that has presented digital-banking, i.e. Bank-led and Mobile-led digitals in today’s human society. However, COVID-19 has interrupted the entire human-system. It puts strains on markets, governments, businesses and individuals. But COVID-19 has escalated usages of digital-banking, a product in bank-sector, country-wise such as Bangladesh. This study undertakes interpreting the episode COVID-19 vs. Digital-banking-usages under Demand - Supply Model in market economics. In digital-services-market of world-economy country-wise, customers are identified in two categories and their efficiency-costs or prices are measured and utilized for analysis purposes in this study. The findings show that digital-banking customers where adverse-user faces lower efficiency-price than equilibrium-price and the advantageous-user faces least expected cost. Thus the progression of usages digital-banking is an outcome of market-economics, not something else. Despites the fact that the study uses a basic Microeconomics tools such as Consumer Choice Theory in completion the analysis, it is one of a kind in literature based on the approaches utilized interpreting customers behaviors in terms of economics. Findings of this study can be instrumental to digital-banking service-providers in market economy as well as to readers, especially, to classroom-students who are enthusiastic learning how to use tools of economics in application.},
year = {2021}
}
TY - JOUR T1 - COVID-19 Brings Blessing for Digital-Banking in World-Economy Country-Wise: An Analysis Under Demand-Supply Model of Market Economics AU - Akim Mahbubur Rahman AU - Saadi Islam Y1 - 2021/05/08 PY - 2021 N1 - https://doi.org/10.11648/j.jbed.20210602.12 DO - 10.11648/j.jbed.20210602.12 T2 - Journal of Business and Economic Development JF - Journal of Business and Economic Development JO - Journal of Business and Economic Development SP - 65 EP - 72 PB - Science Publishing Group SN - 2637-3874 UR - https://doi.org/10.11648/j.jbed.20210602.12 AB - Lifestyles of today’s civilizations are mostly dominated by technology usages no matter where they reside in the globe. As a result, human-services are mostly carried out in competitive manner where Banking-services are not different. It is carried-out with business mentality that has presented digital-banking, i.e. Bank-led and Mobile-led digitals in today’s human society. However, COVID-19 has interrupted the entire human-system. It puts strains on markets, governments, businesses and individuals. But COVID-19 has escalated usages of digital-banking, a product in bank-sector, country-wise such as Bangladesh. This study undertakes interpreting the episode COVID-19 vs. Digital-banking-usages under Demand - Supply Model in market economics. In digital-services-market of world-economy country-wise, customers are identified in two categories and their efficiency-costs or prices are measured and utilized for analysis purposes in this study. The findings show that digital-banking customers where adverse-user faces lower efficiency-price than equilibrium-price and the advantageous-user faces least expected cost. Thus the progression of usages digital-banking is an outcome of market-economics, not something else. Despites the fact that the study uses a basic Microeconomics tools such as Consumer Choice Theory in completion the analysis, it is one of a kind in literature based on the approaches utilized interpreting customers behaviors in terms of economics. Findings of this study can be instrumental to digital-banking service-providers in market economy as well as to readers, especially, to classroom-students who are enthusiastic learning how to use tools of economics in application. VL - 6 IS - 2 ER -
Information
Email: