مائده ارمغان

The growth of information technology as well as developments in payment tools has led to the growth of electronic banking. In line with these developments, people's use of electronic payment tools in banking has increased, and people keep most of their money in bank deposits and use credit cards and electronic payment tools to receive money, buy goods and services, and buy gold، dollars and...

Due to these conditions, people's demand for cash has decreased and the demand for cash substitutes such as gold, dollars and credit cards has increased, and these factors lead to consequences in the economic sector, including money demand and the velocity of money circulation.

In this research, electronic banking variables will be connected to macroeconomic phenomena, one of the most important of which is the velocity of money circulation, and Keynes' statements about the velocity of money circulation have also been used. The velocity of money circulation calculated by Keynes in the speech book about money is different from the velocity of money circulation calculated through the equation of the quantity theory of money. In this research, using Keynes' speech about the velocity of money circulation, the velocity of money circulation has been investigated considering electronic banking.

In this regard, using seasonal time series data from ۲۰۰۹ to ۲۰۱۷ and using the econometric method of generalized moments (GMM), the effect of electronic banking and the growth of modern payment tools including the number of ATMs and pinpad , the number of ATM transactions and the number of electronic cards on The rate of growth of velocity of money circulation has been checked.

The velocity of money circulation is a function of money demand; Therefore, it can be a function of the amount of money hoarding and the interest rate. For this purpose, in addition to electronic payment tools, the relationship between the interest rate and the velocity of money circulation has also been investigated. The findings show that due to the downward velocity of money circulation calculated by the equation of the quantity theory of money, the effect of electronic banking and electronic payment tools on it is negative and according to the inflationary conditions in the Iranian economy, it has no logical justification; But the increasing use of electronic banking and electronic payment tools has a positive and significant effect on the velocity of money circulation calculated by Keynes.