Silva, Stéfano de Lima; https://orcid.org/0000-0003-3150-1396; https://lattes.cnpq.br/3646271740582423
Resumo:
This dissertation investigates the impact of the brazilian instant payment system, pix, on
household consumption across brazilian states. The main objective is to assess whether
the adoption of pix has contributed to increasing household spending and promoting
financial inclusion. The relevance of the study lies in establishing a connection between
the introduction of pix and consumption dynamics, contributing to an emerging academic
literature, particularly at the graduate level. To this end, panel data from the 26 brazilian
states and the federal district, organized in annual and biannual frequency for the period
2010–2022, are used, with estimations based on fixed-effects and dynamic models. The
results indicate that pix had a positive impact on aggregate consumption, although this
effect proves to be sensitive to the econometric methodology and the periodicity of the
data. The evidence suggests that pix may have stimulated consumption in the short run,
but that, in the medium term, its net effect is limited, reflecting more a change in the
means of payment than an effective expansion of aggregate demand. Nevertheless, the
ease of use and wide adoption of pix suggest that, in the longer run, its effects may become
more significant as financial digitalization consolidates and new payment tools become
more widespread.