TY - JOUR
T1 - Fintech development and savings, borrowing, and remittances
T2 - A comparative study of emerging economies
AU - Lyons, Angela C.
AU - Kass-Hanna, Josephine
AU - Fava, Ana
N1 - Publisher Copyright:
© 2021 Elsevier B.V.
PY - 2022/6
Y1 - 2022/6
N2 - Fintech is rapidly changing the financial landscape, especially in the post-COVID era. This study uses data from the world's first global ranking of fintech ecosystems, the Global Fintech Index (GFI), to investigate the linkages between fintech development and demand for savings, borrowing, and remittances for 16 of the world's largest emerging economies. Our results find a consistently strong and positive relationship between fintech development and financial inclusion. However, considerable heterogeneities persist across population groups and regions. Evidence also suggests that access may not translate to greater usage of financial services. The findings have important implications for future models of financial inclusion looking to harness the power of fintech.
AB - Fintech is rapidly changing the financial landscape, especially in the post-COVID era. This study uses data from the world's first global ranking of fintech ecosystems, the Global Fintech Index (GFI), to investigate the linkages between fintech development and demand for savings, borrowing, and remittances for 16 of the world's largest emerging economies. Our results find a consistently strong and positive relationship between fintech development and financial inclusion. However, considerable heterogeneities persist across population groups and regions. Evidence also suggests that access may not translate to greater usage of financial services. The findings have important implications for future models of financial inclusion looking to harness the power of fintech.
KW - Digital financial services
KW - Emerging economies
KW - Financial inclusion
KW - Financial security
KW - Fintech
KW - Vulnerable populations
UR - http://www.scopus.com/inward/record.url?scp=85114258546&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85114258546&partnerID=8YFLogxK
U2 - 10.1016/j.ememar.2021.100842
DO - 10.1016/j.ememar.2021.100842
M3 - Article
AN - SCOPUS:85114258546
SN - 1566-0141
VL - 51
JO - Emerging Markets Review
JF - Emerging Markets Review
M1 - 100842
ER -