Banking the unbanked. Constitutive rules and the institutionalization of mobile payment systems in Nigeria
Economic Research identifies institutional voids as serious roadblocks to economic development. Institutional voids theory remains limited by its exclusive regulative conception of institutions, resulting in gaps of research regarding the social legitimacy of regulations and the actual practices of market actors. Institutional theory addresses these gaps by considering the cultural-cognitive dimension of institutions and studying their role in shaping legitimacy of rules and practices of market actors. This study elaborates the social constitution of institutions as an alternative concept for studying responses to institutional voids, in the context of payment infrastructures of emerging economies. Mobile payments systems constitute institutions to “bank the unbanked” and leapfrog rich-world paths to economic development. The study of Paga, the premier leading mobile payment platform of Nigeria reveals the role of constitutive rules in the constitution of institutions through the interplay of technology development and social action. Major implications are the central role of constitutive rules in institutional development and more generally in institutionalizing service systems by shaping legitimacy and practices to service systems building on technology infrastructures such as the internet or Artificial Intelligence (AI).
Ehret, M. und & Olanyian, R. (2023): Banking the unbanked. Constitutive rules and the institutionalization of mobile payment systems in Nigeria, in: Journal of Business Research, Vol. 163, pp. 1-18, doi: https://doi.org/10.1016/j.jbusres.2023.113845.
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