How Billionaires Become Valuable Millionaires? Psychological Impact of Redenomination on Economy

Volume 3, Issue 2, Article 2 - 2017

Authors: Muhammad Rizwan Ullah;Safdar Husain Tahir;Ayesha Ateeque;Iqra Shehzadi

Copyright © 2017 . This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

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Abstract

The study aims to investigate the psychological impact of deleting zeroes from the value of national currency. The data were collected from five countries: Israel, Argentina, Poland, Turkey and Brazil to investigate the impact of deleting zeroes. Line graphs and simple percentages were used to analyze the impact of redenomination on inflation. The results revealed almost positive impact of redenomination on economy in all cases. Negative impacts were found only in two events of the countries i.e. Argentina and Brazil in 1983 and 1996 respectively. It was concluded that the redenomination can be used to create value and to control inflation

How To Cite This Article

Muhammad Rizwan Ullah;Safdar Husain Tahir;Ayesha Ateeque;Iqra Shehzadi (2017) How Billionaires Become Valuable Millionaires? Psychological Impact of Redenomination on Economy
Global Journal of economic and Business Vol 3 (2) 217-228