DIGITAL PAYMENT VELOCITY OF MONEY RESEARCH: A BIBLIOMETRIC ANALYSIS AND FUTURE RESEARCH

Abstract

The velocity of money has long occupied a central position in monetary economics because it links money prices output transaction technology and monetary policy transmission. Yet the literature has become increasingly dispersed across classical money demand theory, shadow economy measurement, financial innovation, e-money, cryptocurrencies, central bank digital currencies, and emerging market payment system. This study provides a bibliometric analysis of Scopus indexed research on the velocity of money over the period 2010-2026. Using 139 documents and combining performance analysis with science mapping in VOSviewer, the paper examines publication trends, citation structure, productive countries and institutions, co-authorship patterns, co-citation foundations, author-keywords, co-occurrence and title abstract term co-occurrence. The results show that the field remains relatively specialized, with 139 documents and 873 citations, but has developed around several intersecting streams, monetary theory and money demand, currency demand approaches to shadow an economy, digital payment and financial innovation cryptocurrency and CBDC implications and inflation growth dynamics. The United States is the most visible country in publication output, while the intellectual structure remains anchored in monetarist and money demand traditions. Collaboration networks are fragmented, indicating substantial room for cross country and interdisciplinary work. The thematic maps suggest that next research frontier lies in connecting money velocity with digital payment infrastructure, transaction cost, financial inclusion, monetary stability and the changing structure of the financial industry. The study contributes a systematic knowledge map and a future research agenda for scholars and policymakers working at the intersection of monetary economics and digital finance.